Calavo Growers (NASDAQ:CVGW) Stock Price Crosses Above 200-Day Moving Average of $26.92

Calavo Growers, Inc. (NASDAQ:CVGW)’s stock price passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $26.92 and traded as high as $27.67. Calavo Growers shares last traded at $27.03, with a volume of 176,028 shares changing hands.

Analyst Upgrades and Downgrades

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

Calavo Growers Stock Performance

The company has a quick ratio of 1.70, a current ratio of 2.03 and a debt-to-equity ratio of 0.24. The stock has a 50 day simple moving average of $27.63 and a two-hundred day simple moving average of $26.92. The stock has a market capitalization of $481.13 million, a P/E ratio of -40.95 and a beta of 0.65.

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

Calavo Growers Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, April 29th. Investors of record on Monday, April 1st will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, March 28th. This represents a $0.40 annualized dividend and a yield of 1.48%. Calavo Growers’s payout ratio is currently -60.61%.

Institutional Trading of Calavo Growers

Several hedge funds have recently added to or reduced their stakes in CVGW. GSA Capital Partners LLP raised its holdings in Calavo Growers by 4.9% in the 4th quarter. GSA Capital Partners LLP now owns 128,056 shares of the company’s stock valued at $3,766,000 after acquiring an additional 6,030 shares in the last quarter. Garner Asset Management Corp acquired a new position in Calavo Growers in the 4th quarter valued at $90,000. Kent Lake Capital LLC raised its holdings in Calavo Growers by 200.0% in the 4th quarter. Kent Lake Capital LLC now owns 300,000 shares of the company’s stock valued at $8,823,000 after acquiring an additional 200,000 shares in the last quarter. SG Capital Management LLC acquired a new position in Calavo Growers in the 4th quarter valued at $7,851,000. Finally, Boston Partners acquired a new position in Calavo Growers in the 4th quarter valued at $351,000. 81.30% of the stock is owned by institutional investors and hedge funds.

About Calavo Growers

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.