Short Interest in Calavo Growers, Inc. (NASDAQ:CVGW) Drops By 6.7%

Calavo Growers, Inc. (NASDAQ:CVGWGet Free Report) was the target of a significant drop in short interest in the month of February. As of February 29th, there was short interest totalling 961,300 shares, a drop of 6.7% from the February 14th total of 1,030,000 shares. Approximately 5.8% of the shares of the stock are short sold. Based on an average trading volume of 172,300 shares, the days-to-cover ratio is currently 5.6 days.

Wall Street Analyst Weigh In

Separately, Stephens restated an “equal weight” rating and issued a $32.00 price objective on shares of Calavo Growers in a report on Wednesday, January 17th.

View Our Latest Stock Analysis on CVGW

Institutional Investors Weigh In On Calavo Growers

Hedge funds have recently bought and sold shares of the business. BlackRock Inc. increased its position in Calavo Growers by 0.6% in the 1st quarter. BlackRock Inc. now owns 2,753,941 shares of the company’s stock worth $100,382,000 after purchasing an additional 15,751 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Calavo Growers by 12.5% in the 1st quarter. Vanguard Group Inc. now owns 1,445,222 shares of the company’s stock valued at $52,678,000 after buying an additional 160,709 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Calavo Growers by 9.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 688,845 shares of the company’s stock worth $20,259,000 after buying an additional 60,803 shares during the last quarter. State Street Corp raised its position in Calavo Growers by 1.8% during the second quarter. State Street Corp now owns 640,518 shares of the company’s stock valued at $26,722,000 after acquiring an additional 11,488 shares in the last quarter. Finally, Clearbridge Investments LLC grew its position in Calavo Growers by 0.4% in the second quarter. Clearbridge Investments LLC now owns 640,505 shares of the company’s stock worth $18,587,000 after acquiring an additional 2,590 shares in the last quarter. 81.40% of the stock is owned by hedge funds and other institutional investors.

Calavo Growers Price Performance

Shares of NASDAQ CVGW opened at $29.01 on Wednesday. The business has a fifty day simple moving average of $28.03 and a 200-day simple moving average of $27.03. Calavo Growers has a 12 month low of $21.42 and a 12 month high of $38.97. The company has a quick ratio of 1.70, a current ratio of 2.03 and a debt-to-equity ratio of 0.24.

Calavo Growers (NASDAQ:CVGWGet Free Report) last announced its earnings results on Monday, March 11th. The company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.17 by ($0.18). The firm had revenue of $127.60 million during the quarter, compared to analyst estimates of $254.25 million. Calavo Growers had a positive return on equity of 0.49% and a negative net margin of 1.32%. The business’s quarterly revenue was down 3.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.08) earnings per share. On average, research analysts predict that Calavo Growers will post 1.04 earnings per share for the current fiscal year.

Calavo Growers Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 29th. Investors of record on Monday, April 1st will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 1.38%. The ex-dividend date is Thursday, March 28th. Calavo Growers’s payout ratio is -60.61%.

Calavo Growers Company Profile

(Get Free Report)

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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