Calavo Growers (NASDAQ:CVGW) Shares Cross Above 200-Day Moving Average of $26.92

Calavo Growers, Inc. (NASDAQ:CVGW) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $26.92 and traded as high as $27.67. Calavo Growers shares last traded at $27.03, with a volume of 176,028 shares.

Wall Street Analyst Weigh In

Separately, Stephens reissued an “equal weight” rating and issued a $32.00 target price on shares of Calavo Growers in a research note on Wednesday, January 17th.

Calavo Growers Stock Down 1.4 %

The company’s fifty day moving average price is $27.63 and its 200-day moving average price is $26.93. The company has a current ratio of 2.03, a quick ratio of 1.70 and a debt-to-equity ratio of 0.24.

Calavo Growers (NASDAQ:CVGW) last released its earnings results on Monday, March 11th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by ($0.18). Calavo Growers had a negative net margin of 1.32% and a positive return on equity of 0.49%. The business had revenue of $127.60 million for the quarter, compared to analysts’ expectations of $254.25 million. During the same quarter in the previous year, the business posted ($0.08) earnings per share. Calavo Growers’s revenue for the quarter was down 3.9% on a year-over-year basis. Sell-side analysts predict that Calavo Growers, Inc. will post 1.04 EPS for the current year.

Calavo Growers Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 29th. Stockholders of record on Monday, April 1st will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, March 28th. This represents a $0.40 annualized dividend and a dividend yield of 1.48%. Calavo Growers’s payout ratio is -60.61%.

Hedge Funds Weigh In On Calavo Growers

Several large investors have recently made changes to their positions in CVGW. Kent Lake Capital LLC raised its holdings in Calavo Growers by 200.0% in the 4th quarter. Kent Lake Capital LLC now owns 300,000 shares of the company’s stock worth $8,823,000 after acquiring an additional 200,000 shares during the last quarter. First Dallas Securities Inc. purchased a new position in Calavo Growers in the 3rd quarter worth approximately $555,000. Thompson Siegel & Walmsley LLC raised its holdings in Calavo Growers by 693.2% in the 3rd quarter. Thompson Siegel & Walmsley LLC now owns 61,611 shares of the company’s stock worth $1,554,000 after acquiring an additional 53,844 shares during the last quarter. Jacobs Levy Equity Management Inc. raised its holdings in Calavo Growers by 18.8% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 197,202 shares of the company’s stock worth $4,975,000 after acquiring an additional 31,272 shares during the last quarter. Finally, International Assets Investment Management LLC purchased a new position in Calavo Growers in the 4th quarter worth approximately $5,190,000. 81.30% of the stock is currently owned by hedge funds and other institutional investors.

About Calavo Growers

Calavo Growers, Inc markets and distributes avocados, prepared avocados, and other perishable foods to retail grocery and foodservice customers, club stores, mass merchandisers, food distributors, and wholesale customers worldwide. It operates through Grown and Prepared segments. The Grown segment distributes tomatoes and papayas; and procures avocados grown in California, Mexico, Peru, and Colombia.