Calavo Growers, Inc. (NASDAQ:CVGW) Shares Sold by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund lessened its stake in Calavo Growers, Inc. (NASDAQ:CVGW) by 20.1% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,649 shares of the company’s stock after selling 2,172 shares during the period. Illinois Municipal Retirement Fund’s holdings in Calavo Growers were worth $254,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Kennedy Capital Management LLC increased its position in Calavo Growers by 12.7% in the 3rd quarter. Kennedy Capital Management LLC now owns 531,689 shares of the company’s stock valued at $13,415,000 after acquiring an additional 59,797 shares during the period. Charles Schwab Investment Management Inc. increased its position in Calavo Growers by 2.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 321,664 shares of the company’s stock valued at $8,116,000 after acquiring an additional 8,915 shares during the period. Jacobs Levy Equity Management Inc. increased its position in Calavo Growers by 18.8% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 197,202 shares of the company’s stock valued at $4,975,000 after acquiring an additional 31,272 shares during the period. Crown Advisors Management Inc. increased its position in Calavo Growers by 21.4% in the 3rd quarter. Crown Advisors Management Inc. now owns 170,000 shares of the company’s stock valued at $4,289,000 after acquiring an additional 30,000 shares during the period. Finally, Connors Investor Services Inc. increased its position in Calavo Growers by 15.8% in the 3rd quarter. Connors Investor Services Inc. now owns 158,601 shares of the company’s stock valued at $3,995,000 after acquiring an additional 21,694 shares during the period. Institutional investors and hedge funds own 81.30% of the company’s stock.

Analysts Set New Price Targets

Separately, Stephens restated an “equal weight” rating and issued a $32.00 price target on shares of Calavo Growers in a research report on Wednesday, January 17th.

Calavo Growers Stock Performance

NASDAQ CVGW opened at $28.47 on Thursday. The company has a current ratio of 2.03, a quick ratio of 1.70 and a debt-to-equity ratio of 0.24. The business’s 50 day moving average is $27.55 and its two-hundred day moving average is $26.96. Calavo Growers, Inc. has a 12-month low of $21.42 and a 12-month high of $38.97. The stock has a market capitalization of $506.77 million, a price-to-earnings ratio of -43.14 and a beta of 0.65.

Calavo Growers (NASDAQ:CVGW) last released its earnings results on Monday, March 11th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by ($0.18). Calavo Growers had a positive return on equity of 0.49% and a negative net margin of 1.32%. The business had revenue of $127.60 million for the quarter, compared to analyst estimates of $254.25 million. During the same quarter in the previous year, the firm posted ($0.08) EPS. The business’s revenue for the quarter was down 3.9% on a year-over-year basis. Research analysts expect that Calavo Growers, Inc. will post 1.04 EPS for the current year.

Calavo Growers Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 29th. Shareholders of record on Monday, April 1st were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 1.40%. The ex-dividend date was Thursday, March 28th. Calavo Growers’s payout ratio is -60.61%.

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 worldwide. It operates through Grown and Prepared segments. The Grown segment distributes tomatoes and papayas; and procures avocados grown in California, Mexico, Peru, and Colombia.