Several other research analysts also recently issued reports on the stock. Zacks Investment Research upgraded shares of Calavo Growers from a sell rating to a hold rating in a research note on Tuesday, November 20th. Lake Street Capital set a $94.00 target price on shares of Calavo Growers and gave the stock a buy rating in a research note on Friday, December 21st. Finally, BidaskClub downgraded shares of Calavo Growers from a buy rating to a hold rating in a research note on Friday, November 2nd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company’s stock. Calavo Growers presently has an average rating of Hold and a consensus target price of $97.75.
NASDAQ:CVGW opened at $74.23 on Thursday. Calavo Growers has a one year low of $67.52 and a one year high of $108.00. The stock has a market cap of $1.28 billion, a P/E ratio of 29.81 and a beta of 0.88.
In other news, Director Marc Laurence Brown sold 343 shares of the business’s stock in a transaction that occurred on Tuesday, October 16th. The shares were sold at an average price of $95.74, for a total transaction of $32,838.82. Following the completion of the transaction, the director now directly owns 11,343 shares of the company’s stock, valued at $1,085,978.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 8.40% of the stock is owned by insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Advisors Asset Management Inc. raised its holdings in shares of 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 during the last quarter. Itau Unibanco Holding S.A. purchased a new position in shares of Calavo Growers during the second quarter valued at approximately $144,000. Dorsey & Whitney Trust CO LLC purchased a new position in shares of Calavo Growers during the third quarter valued at approximately $206,000. Penobscot Investment Management Company Inc. purchased a new position in shares of Calavo Growers during the third quarter valued at approximately $208,000. Finally, Atria Investments LLC purchased a new position in shares of Calavo Growers during the third quarter valued at approximately $219,000. 88.94% of the stock is 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. 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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