Garner Asset Management Corp grew its holdings in Calavo Growers, Inc. (NASDAQ:CVGW) by 2.7% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 6,406 shares of the company’s stock after buying an additional 170 shares during the quarter. Garner Asset Management Corp’s holdings in Calavo Growers were worth $537,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Calavo Growers by 26.7% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 969 shares of the company’s stock valued at $71,000 after buying an additional 204 shares in the last quarter. We Are One Seven LLC purchased a new position in Calavo Growers during the fourth quarter valued at $95,000. Advisors Asset Management Inc. lifted its position in Calavo Growers by 797.7% during the third quarter. Advisors Asset Management Inc. now owns 1,149 shares of the company’s stock valued at $111,000 after purchasing an additional 1,021 shares in the last quarter. Nisa Investment Advisors LLC lifted its position in Calavo Growers by 1,071.4% during the fourth quarter. Nisa Investment Advisors LLC now owns 1,640 shares of the company’s stock valued at $120,000 after purchasing an additional 1,500 shares in the last quarter. Finally, Paloma Partners Management Co purchased a new position in shares of Calavo Growers in the fourth quarter valued at about $224,000. Institutional investors own 88.80% of the company’s stock.
Calavo Growers stock traded up $0.01 during midday trading on Tuesday, reaching $93.60. The company had a trading volume of 70,301 shares, compared to its average volume of 161,735. The firm has a market capitalization of $1.65 billion, a PE ratio of 37.59 and a beta of 0.94. Calavo Growers, Inc. has a 12-month low of $67.52 and a 12-month high of $108.00.
Calavo Growers (NASDAQ:CVGW) last announced its quarterly earnings results on Thursday, March 7th. The company reported $0.74 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.50 by $0.24. The business had revenue of $258.00 million during the quarter, compared to the consensus estimate of $257.86 million. Calavo Growers had a net margin of 2.70% and a return on equity of 17.32%. The business’s revenue was up 4.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.54 EPS. On average, equities analysts anticipate that Calavo Growers, Inc. will post 3.17 EPS for the current fiscal year.
Several equities research analysts have recently issued reports on CVGW shares. Zacks Investment Research raised Calavo Growers from a “hold” rating to a “buy” rating and set a $101.00 target price on the stock in a report on Tuesday, April 9th. BidaskClub raised Calavo Growers from a “hold” rating to a “buy” rating in a research note on Thursday, April 18th. Vertical Group raised Calavo Growers from a “hold” rating to a “buy” rating and set a $96.00 target price on the stock in a research note on Thursday, April 4th. TheStreet raised Calavo Growers from a “c” rating to a “b-” rating in a research note on Monday, March 11th. Finally, Stephens assumed coverage on Calavo Growers in a report on Tuesday, January 8th. They issued an “overweight” rating and a $88.00 price target for the company. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Calavo Growers currently has a consensus rating of “Buy” and an average price target of $95.40.
In other news, insider James E. Snyder sold 1,240 shares of Calavo Growers stock in a transaction on Monday, April 1st. The shares were sold at an average price of $84.60, for a total transaction of $104,904.00. Following the completion of the sale, the insider now directly owns 8,319 shares of the company’s stock, valued at approximately $703,787.40. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Marc Laurence Brown sold 1,000 shares of Calavo Growers stock in a transaction on Monday, March 18th. The stock was sold at an average price of $85.07, for a total transaction of $85,070.00. Following the sale, the director now directly owns 14,750 shares of the company’s stock, valued at $1,254,782.50. The disclosure for this sale can be found here. Insiders sold a total of 33,437 shares of company stock valued at $2,806,922 in the last quarter. 7.30% of the stock is owned by insiders.
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Calavo Growers Company Profile
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. It operates in three segments: Fresh Products, Calavo Foods, and RFG. The Fresh products segment distributes avocados and other fresh produce products; and procures avocados grown in California, Mexico, and Peru, as well as various other commodities, including tomatoes and papayas.
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