Bank of New York Mellon Corp Has $3.88 Million Stake in Calavo Growers, Inc. (NASDAQ:CVGW)

Bank of New York Mellon Corp boosted its stake in Calavo Growers, Inc. (NASDAQ:CVGW) by 26.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 152,141 shares of the company’s stock after buying an additional 31,743 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.85% of Calavo Growers worth $3,880,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of CVGW. R Squared Ltd acquired a new stake in Calavo Growers in the 4th quarter valued at $26,000. Van ECK Associates Corp raised its position in Calavo Growers by 69.1% in the 4th quarter. Van ECK Associates Corp now owns 2,542 shares of the company’s stock valued at $65,000 after purchasing an additional 1,039 shares during the last quarter. Point72 DIFC Ltd raised its position in Calavo Growers by 42.3% in the 3rd quarter. Point72 DIFC Ltd now owns 3,272 shares of the company’s stock valued at $93,000 after purchasing an additional 973 shares during the last quarter. Janus Henderson Group PLC bought a new position in Calavo Growers in the 3rd quarter valued at $219,000. Finally, Kingswood Wealth Advisors LLC bought a new position in Calavo Growers in the 4th quarter valued at $247,000. Institutional investors and hedge funds own 81.30% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on CVGW shares. StockNews.com upgraded Calavo Growers from a “hold” rating to a “buy” rating in a research report on Thursday, March 13th. Lake Street Capital cut their price objective on Calavo Growers from $40.00 to $35.00 and set a “buy” rating for the company in a research report on Wednesday, January 15th.

Calavo Growers Trading Down 1.1 %

CVGW stock opened at $23.57 on Wednesday. The company has a market cap of $419.55 million, a P/E ratio of -392.83 and a beta of 0.57. Calavo Growers, Inc. has a twelve month low of $20.30 and a twelve month 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. The business has a fifty day moving average of $23.35 and a 200-day moving average of $25.74.

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

Calavo Growers Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 29th. Stockholders of record on Tuesday, April 1st will be given a dividend of $0.20 per share. The ex-dividend date is Tuesday, April 1st. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.39%. Calavo Growers’s payout ratio is currently 148.15%.

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.