Calavo Growers, Inc. (NASDAQ:CVGW – Get Free Report) was the target of a significant decrease in short interest in September. As of September 30th, there was short interest totalling 445,300 shares, a decrease of 62.3% from the September 15th total of 1,180,000 shares. Based on an average daily volume of 293,000 shares, the days-to-cover ratio is currently 1.5 days. Approximately 2.7% of the shares of the company are short sold.
Analyst Upgrades and Downgrades
Separately, StockNews.com upgraded Calavo Growers from a “sell” rating to a “hold” rating in a research note on Saturday, August 3rd.
Check Out Our Latest Analysis on CVGW
Institutional Investors Weigh In On Calavo Growers
Calavo Growers Price Performance
Calavo Growers stock opened at $27.60 on Friday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.77 and a current ratio of 2.04. The firm has a 50-day moving average of $25.62 and a 200-day moving average of $25.51. Calavo Growers has a one year low of $20.30 and a one year high of $31.26.
Calavo Growers (NASDAQ:CVGW – Get Free Report) last posted its quarterly earnings data on Monday, September 9th. The company reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.21. The business had revenue of $179.60 million during the quarter, compared to analysts’ expectations of $175.00 million. Calavo Growers had a negative net margin of 1.21% and a positive return on equity of 6.35%. On average, equities analysts anticipate that Calavo Growers will post 1.15 earnings per share for the current year.
Calavo Growers Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 30th. Investors of record on Wednesday, October 2nd will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.90%. This is an increase from Calavo Growers’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend is Wednesday, October 2nd. Calavo Growers’s dividend payout ratio (DPR) is presently -160.00%.
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.
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