Riverbridge Partners LLC Sells 6,818 Shares of Calavo Growers, Inc. (NASDAQ:CVGW)

Riverbridge Partners LLC lessened its position in shares of Calavo Growers, Inc. (NASDAQ:CVGW) by 2.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 334,334 shares of the company’s stock after selling 6,818 shares during the quarter. Riverbridge Partners LLC’s holdings in Calavo Growers were worth $30,287,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Bank of Montreal Can increased its position in Calavo Growers by 59.7% in the second quarter. Bank of Montreal Can now owns 4,442 shares of the company’s stock worth $430,000 after purchasing an additional 1,661 shares during the period. Charles Schwab Investment Management Inc. lifted its position in Calavo Growers by 2.5% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 125,647 shares of the company’s stock valued at $12,156,000 after purchasing an additional 3,045 shares during the period. LPL Financial LLC boosted its stake in shares of Calavo Growers by 6.6% in the 2nd quarter. LPL Financial LLC now owns 10,789 shares of the company’s stock valued at $1,044,000 after purchasing an additional 669 shares during the last quarter. Northern Trust Corp boosted its stake in shares of Calavo Growers by 0.9% in the 2nd quarter. Northern Trust Corp now owns 248,599 shares of the company’s stock valued at $24,050,000 after purchasing an additional 2,177 shares during the last quarter. Finally, MML Investors Services LLC acquired a new stake in shares of Calavo Growers during the 2nd quarter worth approximately $209,000. 90.96% of the stock is currently owned by institutional investors and hedge funds.

NASDAQ:CVGW traded down $1.33 during mid-day trading on Tuesday, hitting $79.69. The company had a trading volume of 406,682 shares, compared to its average volume of 218,976. Calavo Growers, Inc. has a fifty-two week low of $75.78 and a fifty-two week high of $100.58. The business’s fifty day moving average is $88.59 and its two-hundred day moving average is $90.52. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.00 and a current ratio of 1.41. The firm has a market cap of $1.46 billion, a P/E ratio of 26.39 and a beta of 1.07.

Calavo Growers (NASDAQ:CVGW) last issued its earnings results on Thursday, December 19th. The company reported $0.45 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.43 by $0.02. The firm had revenue of $292.20 million for the quarter, compared to analysts’ expectations of $297.45 million. Calavo Growers had a return on equity of 18.59% and a net margin of 3.06%. The company’s revenue was up 4.4% compared to the same quarter last year. During the same quarter last year, the business earned $0.29 earnings per share. Equities analysts forecast that Calavo Growers, Inc. will post 3.64 earnings per share for the current year.

A number of research firms recently weighed in on CVGW. BidaskClub downgraded shares of Calavo Growers from a “hold” rating to a “sell” rating in a research note on Thursday, November 7th. Zacks Investment Research raised Calavo Growers from a “sell” rating to a “hold” rating and set a $95.00 price target on the stock in a research note on Monday, January 6th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $98.33.

In related news, CFO Bruce John Lindeman sold 2,500 shares of Calavo Growers stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $85.25, for a total transaction of $213,125.00. Following the transaction, the chief financial officer now owns 13,800 shares of the company’s stock, valued at approximately $1,176,450. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Lecil E. Cole sold 41,052 shares of the business’s stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $83.53, for a total transaction of $3,429,073.56. Following the transaction, the chief executive officer now owns 344,878 shares of the company’s stock, valued at approximately $28,807,659.34. The disclosure for this sale can be found here. Insiders sold a total of 60,733 shares of company stock worth $5,124,575 over the last quarter. 7.30% of the stock is currently owned by corporate insiders.

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

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