Next Century Growth Investors LLC decreased its stake in Calavo Growers, Inc. (NASDAQ:CVGW) by 15.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 31,521 shares of the company’s stock after selling 5,592 shares during the period. Next Century Growth Investors LLC owned 0.18% of Calavo Growers worth $1,910,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Neuberger Berman Group LLC increased its stake in shares of Calavo Growers by 27.5% in the first quarter. Neuberger Berman Group LLC now owns 1,585,982 shares of the company’s stock valued at $96,111,000 after buying an additional 342,194 shares during the period. Vanguard Group Inc. increased its stake in Calavo Growers by 5.0% in the first quarter. Vanguard Group Inc. now owns 841,649 shares of the company’s stock worth $51,004,000 after buying an additional 39,812 shares during the period. Stephens Investment Management Group LLC increased its stake in Calavo Growers by 23.8% in the first quarter. Stephens Investment Management Group LLC now owns 747,701 shares of the company’s stock worth $45,311,000 after buying an additional 143,501 shares during the period. Dimensional Fund Advisors LP increased its stake in Calavo Growers by 1.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 617,618 shares of the company’s stock worth $37,922,000 after buying an additional 6,977 shares during the period. Finally, State of New Jersey Common Pension Fund D increased its stake in Calavo Growers by 2.2% in the first quarter. State of New Jersey Common Pension Fund D now owns 570,000 shares of the company’s stock worth $34,542,000 after buying an additional 12,420 shares during the period. 82.28% of the stock is currently owned by institutional investors and hedge funds.
Calavo Growers, Inc. (CVGW) traded down 1.29% on Tuesday, hitting $68.90. The stock had a trading volume of 182,746 shares. The stock has a market capitalization of $1.21 billion, a price-to-earnings ratio of 29.97 and a beta of 0.55. The company has a 50-day moving average price of $68.61 and a 200-day moving average price of $61.62. Calavo Growers, Inc. has a 1-year low of $48.75 and a 1-year high of $76.85.
Calavo Growers (NASDAQ:CVGW) last issued its quarterly earnings results on Tuesday, June 6th. The company reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.66 by $0.08. The firm had revenue of $270.20 million for the quarter, compared to the consensus estimate of $259.79 million. Calavo Growers had a return on equity of 18.38% and a net margin of 3.99%. The company’s revenue for the quarter was up 22.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.56 earnings per share. Equities analysts predict that Calavo Growers, Inc. will post $2.47 earnings per share for the current year.
A number of equities analysts recently weighed in on CVGW shares. Zacks Investment Research downgraded shares of Calavo Growers from a “buy” rating to a “hold” rating in a report on Wednesday, February 22nd. BidaskClub raised shares of Calavo Growers from a “hold” rating to a “buy” rating in a research report on Friday, June 9th. Finally, Stephens reissued an “overweight” rating and issued a $85.00 target price (up previously from $75.00) on shares of Calavo Growers in a research report on Friday, June 9th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $76.60.
In other Calavo Growers news, Director Marc Laurence Brown sold 750 shares of the firm’s stock in a transaction on Wednesday, June 14th. The stock was sold at an average price of $75.10, for a total transaction of $56,325.00. Following the transaction, the director now directly owns 10,100 shares in the company, valued at approximately $758,510. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Lecil E. Cole purchased 42,942 shares of the business’s stock in a transaction dated Tuesday, April 11th. The stock was bought at an average price of $61.78 per share, for a total transaction of $2,652,956.76. Following the completion of the acquisition, the chairman now directly owns 604,923 shares in the company, valued at approximately $37,372,142.94. The disclosure for this purchase can be found here. Company insiders own 9.90% of the company’s stock.
About Calavo Growers
Calavo Growers, Inc operates in the avocado industry. The Company provides value-added fresh food. The Company distributes its products both domestically and internationally and internationally. It operates in three business segments: Fresh products, Calavo Foods and Renaissance Food Group, LLC (RFG).
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