Connors Investor Services Inc. Cuts Stake in Calavo Growers, Inc. (NASDAQ:CVGW)

Connors Investor Services Inc. lessened its position in Calavo Growers, Inc. (NASDAQ:CVGW) by 30.7% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 106,890 shares of the company’s stock after selling 47,394 shares during the period. Connors Investor Services Inc.’s holdings in Calavo Growers were worth $2,973,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in CVGW. Principal Financial Group Inc. raised its holdings in Calavo Growers by 0.4% during the first quarter. Principal Financial Group Inc. now owns 92,696 shares of the company’s stock worth $2,578,000 after purchasing an additional 392 shares in the last quarter. Illinois Municipal Retirement Fund raised its stake in shares of Calavo Growers by 13.8% during the 1st quarter. Illinois Municipal Retirement Fund now owns 9,841 shares of the company’s stock worth $274,000 after buying an additional 1,192 shares in the last quarter. BNP Paribas Financial Markets raised its stake in shares of Calavo Growers by 9.8% during the 1st quarter. BNP Paribas Financial Markets now owns 15,594 shares of the company’s stock worth $434,000 after buying an additional 1,388 shares in the last quarter. Garner Asset Management Corp acquired a new stake in shares of Calavo Growers in the 4th quarter valued at approximately $90,000. Finally, Vanguard Group Inc. boosted its stake in shares of Calavo Growers by 0.3% in the first quarter. Vanguard Group Inc. now owns 1,384,884 shares of the company’s stock valued at $38,514,000 after buying an additional 4,107 shares in the last quarter. Hedge funds and other institutional investors own 81.30% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com upgraded Calavo Growers from a “sell” rating to a “hold” rating in a research report on Tuesday, June 11th.

Calavo Growers Price Performance

Shares of NASDAQ:CVGW traded down $0.14 during trading on Friday, hitting $24.15. 135,784 shares of the stock were exchanged, compared to its average volume of 246,293. Calavo Growers, Inc. has a 12-month low of $20.90 and a 12-month high of $38.97. The company has a market cap of $429.87 million, a PE ratio of -268.33 and a beta of 0.56. The company has a fifty day moving average price of $24.70 and a two-hundred day moving average price of $26.61. The company has a current ratio of 1.97, a quick ratio of 1.66 and a debt-to-equity ratio of 0.24.

Calavo Growers (NASDAQ:CVGW) last announced its quarterly earnings results on Monday, June 10th. The company reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.19. The business had revenue of $184.38 million during 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%. On average, analysts forecast that Calavo Growers, Inc. will post 1.15 EPS for the current year.

Calavo Growers Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 30th. Stockholders of record on Tuesday, July 2nd will be paid a dividend of $0.10 per share. The ex-dividend date is Tuesday, July 2nd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.66%. Calavo Growers’s dividend payout ratio (DPR) is -444.44%.

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.