Calavo Growers (NASDAQ:CVGW) Shares Pass Above 200 Day Moving Average – Time to Sell?

Calavo Growers, Inc. (NASDAQ:CVGW)’s stock price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $25.69 and traded as high as $28.82. Calavo Growers shares last traded at $28.44, with a volume of 112,082 shares.

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 Price Performance

The stock has a market cap of $506.23 million, a price-to-earnings ratio of -56.88 and a beta of 0.58. 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 company has a 50-day simple moving average of $27.65 and a two-hundred day simple moving average of $25.69.

Calavo Growers (NASDAQ:CVGW) last issued its earnings results on Monday, September 9th. The company reported $0.57 earnings per share for the quarter, topping analysts’ consensus estimates 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 business had revenue of $179.60 million for the quarter, compared to the consensus estimate of $175.00 million. As a group, equities research analysts forecast that Calavo Growers, Inc. will post 1.31 EPS for the current year.

Calavo Growers Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 30th. Shareholders of record on Wednesday, October 2nd were paid a $0.20 dividend. This is a positive change from Calavo Growers’s previous quarterly dividend of $0.10. The ex-dividend date was Wednesday, October 2nd. This represents a $0.80 annualized dividend and a yield of 2.81%. Calavo Growers’s dividend payout ratio is currently -160.00%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in CVGW. Summit Securities Group LLC bought a new position in Calavo Growers during the second quarter worth $56,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Calavo Growers by 40.3% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,831 shares of the company’s stock worth $87,000 after buying an additional 1,100 shares during the period. EntryPoint Capital LLC grew its stake in Calavo Growers by 318.4% in the 1st quarter. EntryPoint Capital LLC now owns 5,380 shares of the company’s stock valued at $150,000 after buying an additional 4,094 shares during the last quarter. LMR Partners LLP acquired a new position in Calavo Growers in the 3rd quarter valued at about $253,000. Finally, Illinois Municipal Retirement Fund raised its holdings in Calavo Growers by 13.8% in the 1st quarter. Illinois Municipal Retirement Fund now owns 9,841 shares of the company’s stock valued at $274,000 after acquiring an additional 1,192 shares during the period. 81.30% of the stock is owned by institutional investors and hedge funds.

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.