JPMorgan Chase & Co. Has $3.53 Million Position in Calavo Growers, Inc. (NASDAQ:CVGW)

JPMorgan Chase & Co. grew its holdings in Calavo Growers, Inc. (NASDAQ:CVGW) by 221.1% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 123,841 shares of the company’s stock after purchasing an additional 85,272 shares during the period. JPMorgan Chase & Co. owned approximately 0.70% of Calavo Growers worth $3,533,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Point72 DIFC Ltd lifted its stake in Calavo Growers by 42.3% in the 3rd quarter. Point72 DIFC Ltd now owns 3,272 shares of the company’s stock worth $93,000 after acquiring an additional 973 shares in the last quarter. Janus Henderson Group PLC acquired a new position in shares of Calavo Growers in the 3rd quarter valued at about $219,000. LMR Partners LLP purchased a new stake in shares of Calavo Growers in the third quarter worth approximately $253,000. Inspire Investing LLC acquired a new stake in shares of Calavo Growers during the second quarter worth approximately $346,000. Finally, Quantbot Technologies LP purchased a new position in Calavo Growers during the third quarter valued at approximately $357,000. Institutional investors and hedge funds own 81.30% of the company’s stock.

Calavo Growers Price Performance

CVGW opened at $24.69 on Friday. The company has a current ratio of 2.04, a quick ratio of 1.77 and a debt-to-equity ratio of 0.18. Calavo Growers, Inc. has a 1 year low of $20.30 and a 1 year high of $31.26. The stock has a fifty day moving average price of $26.02 and a 200 day moving average price of $25.68. The stock has a market cap of $439.48 million, a price-to-earnings ratio of -49.38 and a beta of 0.59.

Calavo Growers (NASDAQ:CVGW) last announced its quarterly earnings results on Tuesday, January 14th. The company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.30 by ($0.25). The firm had revenue of $169.96 million for the quarter, compared to analyst estimates of $161.99 million. Calavo Growers had a negative net margin of 1.21% and a positive return on equity of 6.35%. The firm’s quarterly revenue was up 19.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.33) earnings per share. Analysts forecast that Calavo Growers, Inc. will post 1.31 EPS for the current fiscal year.

Calavo Growers Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Friday, January 10th will be paid a dividend of $0.20 per share. The ex-dividend date is Friday, January 10th. This represents a $0.80 annualized dividend and a dividend yield of 3.24%. Calavo Growers’s dividend payout ratio (DPR) is -160.00%.

Analyst Ratings Changes

Separately, 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 report on Wednesday.

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.