Calavo Growers (NASDAQ:CVGW) Announces Earnings Results, Beats Estimates By $0.11 EPS

Calavo Growers (NASDAQ:CVGWGet Rating) posted its quarterly earnings results on Thursday. The company reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.11, MarketWatch Earnings reports. Calavo Growers had a positive return on equity of 1.16% and a negative net margin of 1.91%. The company had revenue of $331.42 million for the quarter, compared to analyst estimates of $316.85 million. During the same quarter last year, the company earned $0.43 EPS. Calavo Growers’s revenue for the quarter was up 19.7% compared to the same quarter last year.

CVGW stock traded down $0.43 during trading on Thursday, hitting $33.19. 104,381 shares of the company’s stock were exchanged, compared to its average volume of 118,786. The business has a 50-day moving average price of $35.02 and a two-hundred day moving average price of $39.14. Calavo Growers has a 52-week low of $28.76 and a 52-week high of $74.87. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.54 and a quick ratio of 1.09.

A number of hedge funds have recently bought and sold shares of the stock. Morgan Stanley lifted its stake in Calavo Growers by 17.2% in the second quarter. Morgan Stanley now owns 240,977 shares of the company’s stock valued at $15,283,000 after buying an additional 35,411 shares during the last quarter. Two Sigma Investments LP purchased a new stake in Calavo Growers in the third quarter valued at approximately $374,000. Bank of New York Mellon Corp lifted its stake in Calavo Growers by 2.5% in the third quarter. Bank of New York Mellon Corp now owns 256,514 shares of the company’s stock valued at $9,809,000 after buying an additional 6,151 shares during the last quarter. Citigroup Inc. lifted its stake in Calavo Growers by 44.2% in the fourth quarter. Citigroup Inc. now owns 13,392 shares of the company’s stock valued at $568,000 after buying an additional 4,105 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in Calavo Growers by 1.7% in the fourth quarter. JPMorgan Chase & Co. now owns 28,039 shares of the company’s stock valued at $1,189,000 after buying an additional 462 shares during the last quarter. Hedge funds and other institutional investors own 77.43% of the company’s stock.

CVGW has been the subject of a number of analyst reports. StockNews.com initiated coverage on Calavo Growers in a research report on Thursday, March 31st. They set a “sell” rating for the company. Zacks Investment Research downgraded Calavo Growers from a “buy” rating to a “hold” rating in a research report on Thursday, March 17th.

About Calavo Growers (Get Rating)

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 in three segments: Fresh Products, Calavo Foods, and Renaissance Food Group (RFG).

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Earnings History for Calavo Growers (NASDAQ:CVGW)

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