Calavo Growers (NASDAQ:CVGW) Rating Lowered to Sell at StockNews.com

StockNews.com downgraded shares of Calavo Growers (NASDAQ:CVGW) from a hold rating to a sell rating in a research report report published on Friday.

Calavo Growers Stock Down 0.7 %

Shares of CVGW stock opened at $23.43 on Friday. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.97 and a quick ratio of 1.66. Calavo Growers has a one year low of $20.90 and a one year high of $38.50. The company’s fifty day moving average price is $24.23 and its 200-day moving average price is $26.42. The company has a market capitalization of $417.05 million, a price-to-earnings ratio of -260.33 and a beta of 0.56.

Calavo Growers (NASDAQ:CVGW) last posted its quarterly earnings results on Monday, June 10th. The company reported $0.50 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.19. The business had revenue of $184.38 million for the quarter, compared to analysts’ expectations of $157.00 million. Calavo Growers had a positive return on equity of 4.84% and a negative net margin of 0.18%. Sell-side analysts expect that Calavo Growers will post 1.15 EPS for the current fiscal year.

Calavo Growers Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 30th. Stockholders of record on Tuesday, July 2nd will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 1.71%. The ex-dividend date is Tuesday, July 2nd. Calavo Growers’s dividend payout ratio (DPR) is presently -444.44%.

Hedge Funds Weigh In On Calavo Growers

Several institutional investors have recently bought and sold shares of CVGW. Summit Securities Group LLC purchased a new stake in Calavo Growers in the 2nd quarter worth $56,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Calavo Growers by 40.3% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,831 shares of the company’s stock worth $87,000 after buying an additional 1,100 shares in the last quarter. Garner Asset Management Corp bought a new position in Calavo Growers during the fourth quarter valued at approximately $90,000. EntryPoint Capital LLC grew its holdings in Calavo Growers by 318.4% during the 1st quarter. EntryPoint Capital LLC now owns 5,380 shares of the company’s stock valued at $150,000 after buying an additional 4,094 shares in the last quarter. Finally, Louisiana State Employees Retirement System purchased a new stake in shares of Calavo Growers during the 4th quarter worth approximately $262,000. 81.30% of the stock is owned by hedge funds and other institutional investors.

Calavo Growers Company Profile

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.