Van ECK Associates Corp Purchases 1,039 Shares of Calavo Growers, Inc. (NASDAQ:CVGW)

Van ECK Associates Corp increased its position in Calavo Growers, Inc. (NASDAQ:CVGW) by 69.1% during the fourth quarter, HoldingsChannel.com reports. The firm owned 2,542 shares of the company’s stock after acquiring an additional 1,039 shares during the quarter. Van ECK Associates Corp’s holdings in Calavo Growers were worth $65,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. R Squared Ltd bought a new position in Calavo Growers during the 4th quarter valued at about $26,000. Point72 DIFC Ltd lifted its stake in shares of Calavo Growers by 42.3% in the 3rd quarter. Point72 DIFC Ltd now owns 3,272 shares of the company’s stock worth $93,000 after purchasing an additional 973 shares during the period. Janus Henderson Group PLC purchased a new stake in Calavo Growers in the 3rd quarter worth approximately $219,000. LMR Partners LLP purchased a new stake in Calavo Growers in the 3rd quarter worth approximately $253,000. Finally, Kingswood Wealth Advisors LLC purchased a new stake in Calavo Growers in the 4th quarter worth approximately $247,000. Institutional investors own 81.30% of the company’s stock.

Wall Street Analyst Weigh In

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

Calavo Growers Stock Up 0.2 %

Shares of CVGW opened at $24.14 on Monday. Calavo Growers, Inc. has a 52-week low of $20.30 and a 52-week high of $31.26. The company has a market cap of $430.66 million, a PE ratio of -402.33 and a beta of 0.57. The business has a fifty day moving average of $24.17 and a 200 day moving average of $25.79. The company has a quick ratio of 1.70, a current ratio of 2.17 and a debt-to-equity ratio of 0.02.

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

Calavo Growers Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Friday, January 10th were paid a dividend of $0.20 per share. The ex-dividend date was Friday, January 10th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.31%. Calavo Growers’s payout ratio is -1,333.33%.

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.