Barclays PLC Buys 20,551 Shares of Calavo Growers, Inc. (NASDAQ:CVGW)

Barclays PLC grew its stake in shares of Calavo Growers, Inc. (NASDAQ:CVGW) by 338.3% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 26,625 shares of the company’s stock after buying an additional 20,551 shares during the quarter. Barclays PLC’s holdings in Calavo Growers were worth $759,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Deprince Race & Zollo Inc. grew its stake in shares of Calavo Growers by 40.7% during the second quarter. Deprince Race & Zollo Inc. now owns 356,319 shares of the company’s stock worth $8,088,000 after buying an additional 103,024 shares during the last quarter. Verition Fund Management LLC bought a new stake in shares of Calavo Growers during the third quarter worth $746,000. Cubist Systematic Strategies LLC grew its stake in shares of Calavo Growers by 111.4% during the second quarter. Cubist Systematic Strategies LLC now owns 60,861 shares of the company’s stock worth $1,382,000 after buying an additional 32,077 shares during the last quarter. Deerfield Management Company L.P. Series C grew its stake in shares of Calavo Growers by 566.9% during the second quarter. Deerfield Management Company L.P. Series C now owns 70,514 shares of the company’s stock worth $1,601,000 after buying an additional 59,940 shares during the last quarter. Finally, Weiss Asset Management LP acquired a new position in shares of Calavo Growers during the third quarter worth $1,378,000. Institutional investors own 81.30% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Lake Street Capital cut their price target on shares of Calavo Growers from $40.00 to $35.00 and set a “buy” rating on the stock in a report on Wednesday.

Calavo Growers Price Performance

Shares of NASDAQ:CVGW opened at $22.52 on Thursday. The firm has a market cap of $400.86 million, a PE ratio of -45.04 and a beta of 0.58. The firm’s fifty day moving average is $26.31 and its 200-day moving average is $25.67. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.77 and a current ratio of 2.04. Calavo Growers, Inc. has a 52 week low of $20.30 and a 52 week high of $31.26.

Calavo Growers (NASDAQ:CVGW) last issued its quarterly earnings results on Tuesday, January 14th. The company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.25). The business 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 6.35% and a negative net margin of 1.21%. Calavo Growers’s revenue for the quarter was up 19.5% on a year-over-year basis. During the same quarter last year, the firm posted ($0.33) EPS. Sell-side analysts predict that Calavo Growers, Inc. will post 1.31 earnings per share for the current year.

Calavo Growers Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, January 10th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Friday, January 10th. This represents a $0.80 annualized dividend and a yield of 3.55%. Calavo Growers’s payout ratio is -160.00%.

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.