New York State Common Retirement Fund Lowers Stock Position in Calavo Growers, Inc. (NASDAQ:CVGW)

New York State Common Retirement Fund lessened its holdings in Calavo Growers, Inc. (NASDAQ:CVGW) by 1.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 159,517 shares of the company’s stock after selling 2,853 shares during the quarter. New York State Common Retirement Fund owned 0.89% of Calavo Growers worth $4,068,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in CVGW. R Squared Ltd purchased a new stake in Calavo Growers in the 4th quarter valued at approximately $26,000. Van ECK Associates Corp boosted its holdings 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 in the last quarter. Point72 DIFC Ltd boosted its holdings 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 in the last quarter. Janus Henderson Group PLC purchased a new stake in Calavo Growers in the 3rd quarter valued at approximately $219,000. Finally, Kingswood Wealth Advisors LLC purchased a new stake in Calavo Growers in the 4th quarter valued at approximately $247,000. Hedge funds and other institutional investors own 81.30% of the company’s stock.

Calavo Growers Price Performance

CVGW stock opened at $22.92 on Friday. The firm has a 50 day moving average of $23.92 and a 200-day moving average of $25.81. Calavo Growers, Inc. has a 12-month low of $20.30 and a 12-month high of $31.26. The company has a current ratio of 2.17, a quick ratio of 1.70 and a debt-to-equity ratio of 0.02. The company has a market cap of $408.82 million, a price-to-earnings ratio of -382.00 and a beta of 0.57.

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

Calavo Growers Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Friday, January 10th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Friday, January 10th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.49%. Calavo Growers’s payout ratio is -1,333.33%.

Wall Street Analyst Weigh In

Separately, Lake Street Capital lowered their price objective on Calavo Growers from $40.00 to $35.00 and set a “buy” rating on the stock in a report on Wednesday, January 15th.

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.