American Research & Management Co. Acquires 1,590 Shares of Calavo Growers, Inc. (NASDAQ:CVGW)

American Research & Management Co. lifted its holdings in shares of Calavo Growers, Inc. (NASDAQ:CVGW) by 32.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,550 shares of the company’s stock after purchasing an additional 1,590 shares during the quarter. American Research & Management Co.’s holdings in Calavo Growers were worth $509,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in CVGW. Norges Bank bought a new stake in shares of Calavo Growers in the fourth quarter valued at approximately $17,835,000. Bank of New York Mellon Corp lifted its position in Calavo Growers by 10.7% during the fourth quarter. Bank of New York Mellon Corp now owns 549,958 shares of the company’s stock worth $38,183,000 after purchasing an additional 53,187 shares during the period. Ceredex Value Advisors LLC grew its stake in Calavo Growers by 16.8% during the fourth quarter. Ceredex Value Advisors LLC now owns 329,397 shares of the company’s stock worth $22,870,000 after buying an additional 47,397 shares in the last quarter. Copeland Capital Management LLC raised its position in shares of Calavo Growers by 8.4% in the 4th quarter. Copeland Capital Management LLC now owns 526,168 shares of the company’s stock valued at $36,532,000 after buying an additional 40,600 shares in the last quarter. Finally, Riverbridge Partners LLC lifted its holdings in shares of Calavo Growers by 12.1% during the 4th quarter. Riverbridge Partners LLC now owns 352,036 shares of the company’s stock worth $24,442,000 after acquiring an additional 38,093 shares during the period. 81.23% of the stock is currently owned by institutional investors.

In related news, VP Robert J. Wedin sold 2,335 shares of the firm’s stock in a transaction on Wednesday, March 17th. The stock was sold at an average price of $80.21, for a total transaction of $187,290.35. Following the completion of the transaction, the vice president now directly owns 9,035 shares of the company’s stock, valued at approximately $724,697.35. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 6.30% of the company’s stock.

Several equities research analysts have weighed in on CVGW shares. Zacks Investment Research upgraded Calavo Growers from a “strong sell” rating to a “hold” rating in a research note on Monday, March 8th. Lake Street Capital raised their price objective on Calavo Growers from $62.00 to $73.00 in a research note on Thursday, March 11th. DA Davidson assumed coverage on Calavo Growers in a research note on Friday, March 5th. They set a “neutral” rating and a $84.00 target price for the company. Seaport Global Securities initiated coverage on shares of Calavo Growers in a report on Thursday, February 25th. They issued a “neutral” rating for the company. Finally, Jefferies Financial Group raised their price target on shares of Calavo Growers from $65.00 to $75.00 in a research note on Tuesday, January 12th. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Calavo Growers has an average rating of “Hold” and an average price target of $79.25.

Shares of Calavo Growers stock traded up $0.03 on Thursday, hitting $78.33. The stock had a trading volume of 131 shares, compared to its average volume of 92,682. The stock has a 50 day moving average of $78.34 and a 200 day moving average of $73.12. The firm has a market capitalization of $1.39 billion, a P/E ratio of -100.38 and a beta of 0.85. Calavo Growers, Inc. has a twelve month low of $52.42 and a twelve month high of $85.40. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.89 and a current ratio of 1.28.

Calavo Growers (NASDAQ:CVGW) last announced its quarterly earnings results on Tuesday, March 9th. The company reported $0.17 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.21 by ($0.04). The business had revenue of $220.60 million during the quarter, compared to analyst estimates of $222.49 million. Calavo Growers had a negative net margin of 1.29% and a positive return on equity of 9.86%. The company’s revenue was down 19.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.07 earnings per share. Equities analysts expect that Calavo Growers, Inc. will post 2.6 earnings per share for the current year.

Calavo Growers Profile

Calavo Growers, Inc engages in marketing and distribution of avocados, prepared avocados, and other perishable foods. It operates through the following segments: Fresh Products, Calavo Foods, and Renaissance Food Group. The Fresh Products segment includes operations that involve the distribution of avocados and other fresh produce products.

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Institutional Ownership by Quarter for Calavo Growers (NASDAQ:CVGW)

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