Calavo Growers, Inc. (NASDAQ:CVGW) insider James E. Gibson sold 10,924 shares of Calavo Growers stock in a transaction on Monday, July 15th. The shares were sold at an average price of $94.28, for a total value of $1,029,914.72. Following the sale, the insider now directly owns 12,171 shares of the company’s stock, valued at approximately $1,147,481.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.
Shares of NASDAQ:CVGW opened at $91.91 on Friday. Calavo Growers, Inc. has a fifty-two week low of $67.52 and a fifty-two week high of $108.00. The business has a 50-day moving average of $94.47. The firm has a market capitalization of $1.65 billion, a PE ratio of 36.91 and a beta of 1.04. The company has a quick ratio of 0.94, a current ratio of 1.39 and a debt-to-equity ratio of 0.01.
Calavo Growers (NASDAQ:CVGW) last announced its quarterly earnings results on Thursday, June 6th. The company reported $0.92 earnings per share for the quarter, topping analysts’ consensus estimates of $0.77 by $0.15. Calavo Growers had a return on equity of 17.76% and a net margin of 2.84%. The company had revenue of $286.00 million during the quarter, compared to analysts’ expectations of $281.37 million. During the same quarter in the previous year, the firm earned $0.80 earnings per share. The business’s quarterly revenue was up 8.3% compared to the same quarter last year. As a group, equities analysts forecast that Calavo Growers, Inc. will post 3.35 earnings per share for the current fiscal year.
Several large investors have recently made changes to their positions in the business. BlackRock Inc. lifted its position in shares of Calavo Growers by 2.2% in the fourth quarter. BlackRock Inc. now owns 2,435,811 shares of the company’s stock worth $177,716,000 after buying an additional 52,059 shares during the last quarter. Stephens Investment Management Group LLC lifted its position in shares of Calavo Growers by 5.5% in the first quarter. Stephens Investment Management Group LLC now owns 684,592 shares of the company’s stock worth $57,403,000 after buying an additional 35,576 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Calavo Growers by 1.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 667,196 shares of the company’s stock worth $48,679,000 after buying an additional 9,782 shares during the last quarter. Clearbridge Investments LLC lifted its position in shares of Calavo Growers by 192.7% in the first quarter. Clearbridge Investments LLC now owns 535,428 shares of the company’s stock worth $44,896,000 after buying an additional 352,526 shares during the last quarter. Finally, Copeland Capital Management LLC lifted its position in shares of Calavo Growers by 8.1% in the first quarter. Copeland Capital Management LLC now owns 301,450 shares of the company’s stock worth $25,276,000 after buying an additional 22,465 shares during the last quarter. 87.60% of the stock is owned by institutional investors.
A number of research firms recently issued reports on CVGW. Zacks Investment Research raised Investar from a “hold” rating to a “buy” rating and set a $27.00 price objective for the company in a research report on Tuesday, June 4th. BidaskClub raised Zai Lab from a “buy” rating to a “strong-buy” rating in a research report on Friday, June 28th. Vertical Group raised Calavo Growers from a “hold” rating to a “buy” rating and set a $96.00 price objective for the company in a research report on Thursday, April 4th. Lake Street Capital lifted their price objective on Calavo Growers from $94.00 to $104.00 in a research report on Friday, June 7th. Finally, ValuEngine cut Viewray from a “buy” rating to a “hold” rating in a research report on Wednesday, April 24th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $96.80.
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. 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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