Strs Ohio Buys New Position in Calavo Growers, Inc. (NASDAQ:CVGW)

Strs Ohio bought a new stake in shares of Calavo Growers, Inc. (NASDAQ:CVGW – Get Rating) during the 3rd quarter, according to its most recent filing with the SEC. The firm bought 13,000 shares of the company’s stock, valued at approximately $412,000.

Several other hedge funds have also modified their holdings of CVGW. Point72 Hong Kong Ltd purchased a new stake in shares of Calavo Growers during the 1st quarter valued at about $37,000. FMR LLC raised its holdings in shares of Calavo Growers by 102.2% during the 2nd quarter. FMR LLC now owns 910 shares of the company’s stock valued at $38,000 after buying an additional 460 shares during the period. Van ECK Associates Corp purchased a new stake in shares of Calavo Growers during the 2nd quarter valued at about $60,000. KBC Group NV purchased a new stake in Calavo Growers during the 2nd quarter worth approximately $62,000. Finally, Captrust Financial Advisors increased its holdings in Calavo Growers by 17.0% during the 2nd quarter. Captrust Financial Advisors now owns 2,089 shares of the company’s stock worth $87,000 after purchasing an additional 303 shares during the last quarter. 73.96% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on CVGW shares. Lake Street Capital dropped their price objective on Calavo Growers from $60.00 to $50.00 and set a “buy” rating on the stock in a report on Wednesday, December 21st. StockNews.com started coverage on Calavo Growers in a report on Wednesday, October 12th. They set a “hold” rating on the stock.

Calavo Growers Price Performance

CVGW stock opened at $31.79 on Friday. The company has a quick ratio of 0.85, a current ratio of 1.23 and a debt-to-equity ratio of 0.03. Calavo Growers, Inc. has a 52-week low of $27.29 and a 52-week high of $45.50. The stock’s 50 day moving average is $33.22 and its two-hundred day moving average is $36.26. The company has a market capitalization of $563.70 million, a PE ratio of -88.30 and a beta of 0.68.

Calavo Growers Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 14th. Stockholders of record on Wednesday, November 16th were issued a $0.287 dividend. The ex-dividend date of this dividend was Tuesday, November 15th. This represents a $1.15 dividend on an annualized basis and a dividend yield of 3.61%. Calavo Growers’s dividend payout ratio (DPR) is -319.44%.

About Calavo Growers

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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 two segments, Grown and Prepared. The Grown segment distributes tomatoes and papayas; and procures avocados grown in California, Mexico, Peru, and Colombia.