Lake Street Capital Issues Pessimistic Forecast for Calavo Growers (NASDAQ:CVGW) Stock Price

Calavo Growers (NASDAQ:CVGW) had its price objective reduced by Lake Street Capital from $40.00 to $35.00 in a report issued on Wednesday morning,Benzinga reports. They currently have a buy rating on the stock.

Calavo Growers Price Performance

NASDAQ CVGW opened at $22.52 on Wednesday. The firm has a market capitalization of $400.86 million, a P/E ratio of -45.04 and a beta of 0.59. The company has a current ratio of 2.04, a quick ratio of 1.77 and a debt-to-equity ratio of 0.18. Calavo Growers has a 12-month low of $20.30 and a 12-month high of $31.26. The firm’s fifty day simple moving average is $26.18 and its two-hundred day simple moving average is $25.65.

Calavo Growers (NASDAQ:CVGW) last announced its quarterly earnings data on Tuesday, January 14th. The company reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.25). The company had revenue of $169.96 million for the quarter, compared to analysts’ expectations of $161.99 million. Calavo Growers had a negative net margin of 1.21% and a positive return on equity of 6.35%. Calavo Growers’s quarterly revenue was up 19.5% compared to the same quarter last year. During the same period last year, the firm earned ($0.33) earnings per share. Analysts forecast that Calavo Growers will post 1.31 EPS for the current fiscal year.

Calavo Growers Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Friday, January 10th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.55%. The ex-dividend date is Friday, January 10th. Calavo Growers’s dividend payout ratio (DPR) is presently -160.00%.

Institutional Investors Weigh In On Calavo Growers

A number of large investors have recently made changes to their positions in CVGW. Nuance Investments LLC grew its holdings in shares of Calavo Growers by 25.1% during the third quarter. Nuance Investments LLC now owns 1,636,969 shares of the company’s stock valued at $46,703,000 after buying an additional 328,820 shares during the last quarter. American Century Companies Inc. lifted its position in Calavo Growers by 246.7% during the second quarter. American Century Companies Inc. now owns 261,316 shares of the company’s stock valued at $5,932,000 after purchasing an additional 185,946 shares during the period. Jane Street Group LLC lifted its position in Calavo Growers by 215.5% during the third quarter. Jane Street Group LLC now owns 262,626 shares of the company’s stock valued at $7,493,000 after purchasing an additional 179,395 shares during the period. Deprince Race & Zollo Inc. lifted its position in Calavo Growers by 40.7% during the second quarter. Deprince Race & Zollo Inc. now owns 356,319 shares of the company’s stock valued at $8,088,000 after purchasing an additional 103,024 shares during the period. Finally, JPMorgan Chase & Co. lifted its position in Calavo Growers by 221.1% during the third quarter. JPMorgan Chase & Co. now owns 123,841 shares of the company’s stock valued at $3,533,000 after purchasing an additional 85,272 shares during the period. 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.