Bank of New York Mellon Corp Has $3.88 Million Holdings in Calavo Growers, Inc. (NASDAQ:CVGW)

Bank of New York Mellon Corp increased its stake in shares of Calavo Growers, Inc. (NASDAQ:CVGW) by 26.4% in the fourth quarter, Holdings Channel reports. The firm owned 152,141 shares of the company’s stock after buying an additional 31,743 shares during the quarter. Bank of New York Mellon Corp’s holdings in Calavo Growers were worth $3,880,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in CVGW. LMR Partners LLP acquired a new stake in shares of Calavo Growers during the third quarter worth $253,000. Nuance Investments LLC grew its stake in shares of Calavo Growers by 25.1% during the third quarter. Nuance Investments LLC now owns 1,636,969 shares of the company’s stock worth $46,703,000 after purchasing an additional 328,820 shares during the period. Landscape Capital Management L.L.C. acquired a new stake in shares of Calavo Growers during the third quarter worth $825,000. DRW Securities LLC acquired a new stake in shares of Calavo Growers during the third quarter worth $401,000. Finally, Quantbot Technologies LP acquired a new stake in shares of Calavo Growers during the third quarter worth $357,000. 81.30% of the stock is owned by institutional investors and hedge funds.

Calavo Growers Stock Down 1.1 %

NASDAQ:CVGW opened at $23.57 on Wednesday. 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 stock has a market cap of $419.55 million, a price-to-earnings ratio of -392.83 and a beta of 0.57. The stock has a 50-day moving average price of $23.35 and a two-hundred day moving average price of $25.74. Calavo Growers, Inc. has a 1 year low of $20.30 and a 1 year high of $30.58.

Calavo Growers (NASDAQ:CVGW) last posted its quarterly earnings data on Tuesday, January 14th. The company reported $0.05 earnings per share 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 analyst estimates of $161.99 million. Calavo Growers had a positive return on equity of 9.66% and a negative net margin of 0.16%. The firm’s quarterly revenue was up 19.5% on a year-over-year basis. During the same period in the prior year, the company earned ($0.33) earnings per share. As a group, equities analysts expect that Calavo Growers, Inc. will post 1.87 earnings per share for the current year.

Calavo Growers Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 29th. Stockholders of record on Tuesday, April 1st will be given a dividend of $0.20 per share. The ex-dividend date is Tuesday, April 1st. This represents a $0.80 annualized dividend and a dividend yield of 3.39%. Calavo Growers’s dividend payout ratio is currently 148.15%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on CVGW. StockNews.com raised Calavo Growers from a “hold” rating to a “buy” rating in a research note on Thursday, March 13th. Lake Street Capital decreased their target price on Calavo Growers from $40.00 to $35.00 and set a “buy” rating for the company in a research note on Wednesday, January 15th.

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.