Quantamental Technologies LLC cut its holdings in Calavo Growers, Inc. (NASDAQ:CVGW) by 38.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 718 shares of the company’s stock after selling 452 shares during the period. Quantamental Technologies LLC’s holdings in Calavo Growers were worth $69,000 at the end of the most recent quarter.
Several other hedge funds have also added to or reduced their stakes in CVGW. BNP Paribas Arbitrage SA grew its holdings in Calavo Growers by 956.1% during the first quarter. BNP Paribas Arbitrage SA now owns 3,612 shares of the company’s stock valued at $303,000 after purchasing an additional 3,270 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Calavo Growers by 16.3% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,127 shares of the company’s stock valued at $94,000 after purchasing an additional 158 shares during the period. First Republic Investment Management Inc. bought a new position in Calavo Growers during the first quarter valued at $290,000. Janus Henderson Group PLC bought a new position in Calavo Growers during the first quarter valued at $297,000. Finally, Comerica Bank boosted its holdings in shares of Calavo Growers by 1.5% in the first quarter. Comerica Bank now owns 17,424 shares of the company’s stock worth $1,577,000 after acquiring an additional 258 shares during the period. 88.31% of the stock is owned by institutional investors.
In other Calavo Growers news, CFO Bruce John Lindeman sold 3,000 shares of Calavo Growers stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $97.90, for a total transaction of $293,700.00. Following the completion of the sale, the chief financial officer now owns 11,449 shares of the company’s stock, valued at $1,120,857.10. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Robert J. Wedin sold 1,966 shares of Calavo Growers stock in a transaction dated Tuesday, June 18th. The stock was sold at an average price of $97.82, for a total value of $192,314.12. Following the sale, the vice president now directly owns 8,478 shares of the company’s stock, valued at approximately $829,317.96. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 130,290 shares of company stock valued at $12,553,004. Corporate insiders own 7.30% of the company’s stock.
Calavo Growers stock traded up $0.73 during midday trading on Friday, hitting $94.03. 3,222 shares of the company’s stock were exchanged, compared to its average volume of 177,305. Calavo Growers, Inc. has a 52-week low of $67.52 and a 52-week high of $105.55. The stock has a 50-day moving average price of $90.17 and a two-hundred day moving average price of $90.94. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.06 and a current ratio of 1.53. The company has a market cap of $1.64 billion, a P/E ratio of 37.76 and a beta of 1.00.
Calavo Growers (NASDAQ:CVGW) last posted its earnings results on Thursday, September 5th. The company reported $0.91 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.91. Calavo Growers had a return on equity of 17.89% and a net margin of 2.54%. The business had revenue of $359.30 million during the quarter, compared to analysts’ expectations of $327.83 million. During the same period in the previous year, the business earned $0.86 earnings per share. The firm’s revenue was up 21.2% on a year-over-year basis. As a group, sell-side analysts expect that Calavo Growers, Inc. will post 2.99 earnings per share for the current year.
CVGW has been the subject of a number of analyst reports. Lake Street Capital raised their price target on Calavo Growers from $94.00 to $104.00 in a report on Friday, June 7th. BidaskClub raised Calavo Growers from a “sell” rating to a “hold” rating in a report on Tuesday, August 6th. Finally, Zacks Investment Research lowered Calavo Growers from a “buy” rating to a “hold” rating in a report on Wednesday, September 4th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $96.50.
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. It operates in three segments: Fresh Products, Calavo Foods, and RFG. The Fresh products segment distributes avocados and other fresh produce products; and procures avocados grown in California, Mexico, and Peru, as well as various other commodities, including tomatoes and papayas.
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