Point72 Asset Management L.P. Lowers Stock Holdings in Calavo Growers, Inc. (NASDAQ:CVGW)

Point72 Asset Management L.P. cut its stake in shares of Calavo Growers, Inc. (NASDAQ:CVGW) by 77.1% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 7,300 shares of the company’s stock after selling 24,600 shares during the quarter. Point72 Asset Management L.P.’s holdings in Calavo Growers were worth $166,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Principal Financial Group Inc. increased its holdings in Calavo Growers by 0.4% during the 1st quarter. Principal Financial Group Inc. now owns 92,696 shares of the company’s stock worth $2,578,000 after purchasing an additional 392 shares during the period. Price T Rowe Associates Inc. MD increased its stake in shares of Calavo Growers by 4.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 12,819 shares of the company’s stock valued at $357,000 after buying an additional 582 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Calavo Growers by 40.3% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,831 shares of the company’s stock valued at $87,000 after acquiring an additional 1,100 shares in the last quarter. Illinois Municipal Retirement Fund lifted its stake in Calavo Growers by 13.8% in the first quarter. Illinois Municipal Retirement Fund now owns 9,841 shares of the company’s stock worth $274,000 after acquiring an additional 1,192 shares during the period. Finally, BNP Paribas Financial Markets grew its holdings in Calavo Growers by 9.8% during the 1st quarter. BNP Paribas Financial Markets now owns 15,594 shares of the company’s stock worth $434,000 after acquiring an additional 1,388 shares in the last quarter. Institutional investors own 81.30% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com raised shares of Calavo Growers from a “sell” rating to a “hold” rating in a research report on Saturday, August 3rd.

Calavo Growers Stock Performance

CVGW stock opened at $28.50 on Friday. Calavo Growers, Inc. has a one year low of $20.30 and a one year high of $31.26. The firm has a market cap of $507.30 million, a price-to-earnings ratio of -316.67 and a beta of 0.57. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.77 and a current ratio of 2.04. The firm has a 50-day simple moving average of $25.24 and a two-hundred day simple moving average of $25.52.

Calavo Growers (NASDAQ:CVGW) last announced its earnings results on Monday, September 9th. The company reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.21. Calavo Growers had a negative net margin of 1.21% and a positive return on equity of 6.35%. The company had revenue of $179.60 million during the quarter, compared to the consensus estimate of $175.00 million. On average, equities analysts forecast that Calavo Growers, Inc. will post 1.15 EPS for the current fiscal year.

Calavo Growers Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 30th. Shareholders of record on Wednesday, October 2nd will be paid a $0.20 dividend. The ex-dividend date is Wednesday, October 2nd. This is a boost from Calavo Growers’s previous quarterly dividend of $0.10. This represents a $0.80 dividend on an annualized basis and a yield of 2.81%. Calavo Growers’s dividend payout ratio (DPR) is -888.89%.

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.