Oppenheimer & Co. Inc. Invests $425,000 in Calavo Growers, Inc. (CVGW)

Oppenheimer & Co. Inc. purchased a new stake in Calavo Growers, Inc. (NASDAQ:CVGW) in the first quarter, Holdings Channel reports. The firm purchased 5,077 shares of the company’s stock, valued at approximately $425,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Oppenheimer Asset Management Inc. lifted its holdings in Calavo Growers by 36.8% in the first quarter. Oppenheimer Asset Management Inc. now owns 6,103 shares of the company’s stock valued at $511,000 after buying an additional 1,642 shares during the period. Garner Asset Management Corp increased its position in shares of Calavo Growers by 2.7% during the first quarter. Garner Asset Management Corp now owns 6,406 shares of the company’s stock worth $537,000 after acquiring an additional 170 shares in the last quarter. Mercer Global Advisors Inc. ADV bought a new stake in shares of Calavo Growers during the first quarter worth about $432,000. Brinker Capital Inc. bought a new stake in shares of Calavo Growers during the first quarter worth about $347,000. Finally, American Research & Management Co. increased its position in shares of Calavo Growers by 2.6% during the first quarter. American Research & Management Co. now owns 10,657 shares of the company’s stock worth $894,000 after acquiring an additional 270 shares in the last quarter. Institutional investors own 88.76% of the company’s stock.

In other news, VP Michael A. Browne sold 3,677 shares of the stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $82.79, for a total transaction of $304,418.83. Following the completion of the transaction, the vice president now directly owns 9,884 shares of the company’s stock, valued at approximately $818,296.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Marc Laurence Brown sold 1,000 shares of the stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $85.07, for a total transaction of $85,070.00. Following the transaction, the director now directly owns 14,750 shares of the company’s stock, valued at $1,254,782.50. The disclosure for this sale can be found here. Insiders sold a total of 33,437 shares of company stock valued at $2,806,922 over the last ninety days. 7.30% of the stock is currently owned by insiders.

A number of equities research analysts have issued reports on CVGW shares. BidaskClub downgraded shares of Calavo Growers from a “hold” rating to a “sell” rating in a research report on Tuesday, March 26th. Stephens started coverage on shares of Calavo Growers in a research report on Tuesday, January 8th. They issued an “overweight” rating and a $88.00 price objective for the company. TheStreet raised shares of Calavo Growers from a “c” rating to a “b-” rating in a research report on Monday, March 11th. Vertical Group raised shares of Calavo Growers from a “hold” rating to a “buy” rating and set a $96.00 price objective for the company in a research report on Thursday, April 4th. Finally, ValuEngine raised shares of Calavo Growers from a “hold” rating to a “buy” rating in a research report on Wednesday, April 24th. One analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $95.40.

Shares of CVGW stock opened at $96.38 on Wednesday. Calavo Growers, Inc. has a 52-week low of $67.52 and a 52-week high of $108.00. The stock has a market capitalization of $1.69 billion, a price-to-earnings ratio of 38.71 and a beta of 0.98.

Calavo Growers (NASDAQ:CVGW) last issued its quarterly earnings data on Thursday, March 7th. The company reported $0.74 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.50 by $0.24. Calavo Growers had a net margin of 2.70% and a return on equity of 17.32%. The business had revenue of $258.00 million during the quarter, compared to the consensus estimate of $257.86 million. During the same period in the prior year, the firm posted $0.54 EPS. The firm’s quarterly revenue was up 4.0% compared to the same quarter last year. On average, equities analysts predict that Calavo Growers, Inc. will post 3.17 earnings per share for the current fiscal year.

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Calavo Growers 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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Institutional Ownership by Quarter for Calavo Growers (NASDAQ:CVGW)

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