Calavo Growers (NASDAQ:CVGW) Trading Down 2.1%

Calavo Growers, Inc. (NASDAQ:CVGW)’s stock price was down 2.1% during mid-day trading on Friday . The stock traded as low as $29.02 and last traded at $29.02. Approximately 9,739 shares were traded during trading, a decline of 95% from the average daily volume of 201,915 shares. The stock had previously closed at $29.64.

Analysts Set New Price Targets

Separately, StockNews.com upgraded Calavo Growers from a “sell” rating to a “hold” rating in a research note on Saturday, August 3rd.

Calavo Growers Stock Performance

The firm has a 50-day moving average of $23.64 and a 200-day moving average of $25.54. The company has a current ratio of 2.04, a quick ratio of 1.66 and a debt-to-equity ratio of 0.18. The stock has a market capitalization of $516.56 million, a price-to-earnings ratio of -322.44 and a beta of 0.56.

Calavo Growers Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 30th. Stockholders of record on Wednesday, October 2nd will be paid a $0.20 dividend. This is an increase from Calavo Growers’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend is Wednesday, October 2nd. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.76%. Calavo Growers’s dividend payout ratio is presently -444.44%.

Institutional Investors Weigh In On Calavo Growers

Several hedge funds have recently bought and sold shares of CVGW. Vanguard Group Inc. boosted its holdings in Calavo Growers by 0.3% during the first quarter. Vanguard Group Inc. now owns 1,384,884 shares of the company’s stock worth $38,514,000 after buying an additional 4,107 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Calavo Growers by 1.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 718,914 shares of the company’s stock worth $16,319,000 after purchasing an additional 9,034 shares during the period. SG Capital Management LLC boosted its position in Calavo Growers by 51.4% during the first quarter. SG Capital Management LLC now owns 404,278 shares of the company’s stock worth $11,243,000 after purchasing an additional 137,325 shares in the last quarter. Deprince Race & Zollo Inc. grew its holdings in Calavo Growers by 40.7% in the second quarter. Deprince Race & Zollo Inc. now owns 356,319 shares of the company’s stock valued at $8,088,000 after purchasing an additional 103,024 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Calavo Growers by 8.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 348,098 shares of the company’s stock valued at $10,238,000 after buying an additional 26,434 shares in the last quarter. Hedge funds and other institutional investors own 81.30% of the company’s stock.

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.