Calavo Growers, Inc. (NASDAQ:CVGW) Shares Bought by American Century Companies Inc.

American Century Companies Inc. grew its holdings in Calavo Growers, Inc. (NASDAQ:CVGW) by 26.8% during the 4th quarter, Holdings Channel reports. The firm owned 445,817 shares of the company’s stock after buying an additional 94,221 shares during the period. American Century Companies Inc.’s holdings in Calavo Growers were worth $11,368,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. R Squared Ltd purchased a new stake in Calavo Growers in the 4th quarter valued at approximately $26,000. Van ECK Associates Corp increased its position in Calavo Growers by 69.1% during the fourth quarter. Van ECK Associates Corp now owns 2,542 shares of the company’s stock worth $65,000 after buying an additional 1,039 shares in the last quarter. Point72 DIFC Ltd raised its holdings in shares of Calavo Growers by 42.3% in the third quarter. Point72 DIFC Ltd now owns 3,272 shares of the company’s stock worth $93,000 after acquiring an additional 973 shares during the last quarter. Janus Henderson Group PLC purchased a new stake in shares of Calavo Growers in the third quarter valued at $219,000. Finally, Kingswood Wealth Advisors LLC acquired a new stake in shares of Calavo Growers during the fourth quarter valued at $247,000. 81.30% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CVGW has been the subject of several analyst reports. Lake Street Capital cut their target price on shares of Calavo Growers from $40.00 to $35.00 and set a “buy” rating for the company in a research note on Wednesday, January 15th. StockNews.com upgraded shares of Calavo Growers from a “hold” rating to a “buy” rating in a report on Monday.

Calavo Growers Price Performance

Shares of NASDAQ:CVGW opened at $24.17 on Wednesday. The company has a market cap of $431.12 million, a P/E ratio of -402.83 and a beta of 0.57. The business has a fifty day simple moving average of $23.37 and a 200-day simple moving average of $25.65. Calavo Growers, Inc. has a 52 week low of $20.30 and a 52 week high of $30.58. The company has a quick ratio of 1.70, a current ratio of 2.17 and a debt-to-equity ratio of 0.02.

Calavo Growers (NASDAQ:CVGW) last posted its quarterly earnings results on Tuesday, January 14th. The company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.30 by ($0.25). Calavo Growers had a negative net margin of 0.16% and a positive return on equity of 9.66%. The business had revenue of $169.96 million during the quarter, compared to analysts’ expectations of $161.99 million. During the same quarter last year, the firm earned ($0.33) EPS. The firm’s quarterly revenue was up 19.5% compared to the same quarter last year. Equities research analysts forecast that Calavo Growers, Inc. will post 1.87 EPS for the current year.

Calavo Growers Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 29th. Shareholders of record on Tuesday, April 1st will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 3.31%. The ex-dividend date of this dividend is Tuesday, April 1st. Calavo Growers’s dividend payout ratio is currently 148.15%.

Calavo Growers 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 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.