Dimensional Fund Advisors LP increased its position in Calavo Growers, Inc. (NASDAQ:CVGW) by 1.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 667,196 shares of the company’s stock after acquiring an additional 9,782 shares during the period. Dimensional Fund Advisors LP owned approximately 3.80% of Calavo Growers worth $48,679,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp boosted its position in shares of Calavo Growers by 0.9% during the third quarter. Bank of New York Mellon Corp now owns 438,400 shares of the company’s stock valued at $42,348,000 after buying an additional 3,930 shares during the last quarter. Martingale Asset Management L P boosted its position in shares of Calavo Growers by 48.8% during the third quarter. Martingale Asset Management L P now owns 24,405 shares of the company’s stock valued at $2,358,000 after buying an additional 8,000 shares during the last quarter. BlackRock Inc. boosted its position in shares of Calavo Growers by 3.3% during the third quarter. BlackRock Inc. now owns 2,383,752 shares of the company’s stock valued at $230,269,000 after buying an additional 77,148 shares during the last quarter. Credit Suisse AG boosted its position in shares of Calavo Growers by 2.1% during the third quarter. Credit Suisse AG now owns 110,954 shares of the company’s stock valued at $10,718,000 after buying an additional 2,255 shares during the last quarter. Finally, William Blair Investment Management LLC boosted its position in shares of Calavo Growers by 15.9% during the third quarter. William Blair Investment Management LLC now owns 165,821 shares of the company’s stock valued at $16,018,000 after buying an additional 22,730 shares during the last quarter. 89.08% of the stock is currently owned by institutional investors and hedge funds.
In other news, insider James E. Gibson sold 5,770 shares of Calavo Growers stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $82.20, for a total value of $474,294.00. Following the sale, the insider now directly owns 52,150 shares of the company’s stock, valued at $4,286,730. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Marc Laurence Brown sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $85.07, for a total value of $85,070.00. Following the transaction, the director now owns 14,750 shares of the company’s stock, valued at approximately $1,254,782.50. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 33,437 shares of company stock worth $2,806,922. 7.30% of the stock is owned by insiders.
Calavo Growers (NASDAQ:CVGW) last announced its earnings results on Thursday, March 7th. The company reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.24. The firm had revenue of $258.00 million during the quarter, compared to analyst estimates of $257.86 million. Calavo Growers had a return on equity of 17.32% and a net margin of 2.70%. The business’s revenue was up 4.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.54 EPS. As a group, equities analysts predict that Calavo Growers, Inc. will post 3.17 earnings per share for the current fiscal year.
Several research analysts have weighed in on CVGW shares. Lake Street Capital set a $94.00 price objective on Calavo Growers and gave the stock a “buy” rating in a research report on Friday, December 21st. TheStreet cut Calavo Growers from a “b” rating to a “c” rating in a research report on Thursday, January 3rd. Stephens started coverage on Calavo Growers in a research report on Tuesday, January 8th. They issued an “overweight” rating and a $88.00 price objective on the stock. BidaskClub raised Calavo Growers from a “sell” rating to a “hold” rating in a research report on Saturday, March 16th. Finally, Vertical Group upgraded Calavo Growers from a “hold” rating to a “buy” rating and set a $96.00 target price on the stock in a research note on Thursday, April 4th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Calavo Growers currently has a consensus rating of “Buy” and a consensus target price of $95.40.
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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. It operates in three segments: Fresh Products, Calavo Foods, and RFG. The Fresh products segment distributes avocados and other fresh produce products; and procures avocados grown in California, Mexico, and Peru, as well as various other commodities, including tomatoes and papayas.
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