PNC Financial Services Group Inc. Decreases Stake in Calavo Growers, Inc. (NASDAQ:CVGW)

PNC Financial Services Group Inc. trimmed its holdings in shares of Calavo Growers, Inc. (NASDAQ:CVGW) by 14.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,822 shares of the company’s stock after selling 974 shares during the period. PNC Financial Services Group Inc.’s holdings in Calavo Growers were worth $171,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. SG Capital Management LLC acquired a new position in shares of Calavo Growers during the 4th quarter valued at $7,851,000. Kent Lake Capital LLC boosted its position in shares of Calavo Growers by 200.0% in the fourth quarter. Kent Lake Capital LLC now owns 300,000 shares of the company’s stock worth $8,823,000 after buying an additional 200,000 shares during the period. Russell Investments Group Ltd. grew its stake in shares of Calavo Growers by 134.8% in the fourth quarter. Russell Investments Group Ltd. now owns 280,584 shares of the company’s stock valued at $8,252,000 after buying an additional 161,100 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Calavo Growers by 9.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 688,845 shares of the company’s stock valued at $20,259,000 after buying an additional 60,803 shares during the period. Finally, Kennedy Capital Management LLC lifted its position in Calavo Growers by 12.7% during the 3rd quarter. Kennedy Capital Management LLC now owns 531,689 shares of the company’s stock worth $13,415,000 after acquiring an additional 59,797 shares in the last quarter. 81.30% of the stock is currently owned by hedge funds and other institutional investors.

Calavo Growers Stock Down 1.9 %

Shares of Calavo Growers stock opened at $22.18 on Thursday. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.97 and a quick ratio of 1.66. Calavo Growers, Inc. has a 1-year low of $21.42 and a 1-year high of $38.97. The business has a 50-day moving average of $25.96 and a 200-day moving average of $27.15. The company has a market capitalization of $394.80 million, a PE ratio of -246.44 and a beta of 0.56.

Calavo Growers Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 30th. Shareholders of record on Tuesday, July 2nd will be given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.80%. The ex-dividend date is Tuesday, July 2nd. Calavo Growers’s payout ratio is -444.44%.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded shares of Calavo Growers from a “sell” rating to a “hold” rating in a research note on Tuesday, June 11th.

Calavo Growers Company 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.