Calavo Growers (NASDAQ:CVGW) Shares Pass Above Two Hundred Day Moving Average – What’s Next?

Calavo Growers, Inc. (NASDAQ:CVGW) shares crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $25.69 and traded as high as $28.82. Calavo Growers shares last traded at $28.44, with a volume of 112,082 shares.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised shares of Calavo Growers from a “sell” rating to a “hold” rating in a report on Saturday, August 3rd.

Calavo Growers Stock Performance

The company has a fifty day moving average of $27.65 and a two-hundred day moving average of $25.69. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.77 and a current ratio of 2.04. The company has a market cap of $506.23 million, a price-to-earnings ratio of -56.88 and a beta of 0.58.

Calavo Growers (NASDAQ:CVGW) last announced its quarterly earnings results on Monday, September 9th. The company reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.21. The firm had revenue of $179.60 million during the quarter, compared to analysts’ expectations of $175.00 million. Calavo Growers had a negative net margin of 1.21% and a positive return on equity of 6.35%. Equities research analysts anticipate that Calavo Growers, Inc. will post 1.31 EPS for the current year.

Calavo Growers Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 30th. Investors of record on Wednesday, October 2nd were issued a $0.20 dividend. This is a positive change from Calavo Growers’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend was Wednesday, October 2nd. This represents a $0.80 annualized dividend and a yield of 2.81%. Calavo Growers’s payout ratio is presently -160.00%.

Institutional Investors Weigh In On Calavo Growers

Several large investors have recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD increased its stake in shares of Calavo Growers by 4.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 12,819 shares of the company’s stock valued at $357,000 after acquiring an additional 582 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Calavo Growers by 40.3% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,831 shares of the company’s stock worth $87,000 after purchasing an additional 1,100 shares during the period. Illinois Municipal Retirement Fund increased its stake in Calavo Growers by 13.8% in the first quarter. Illinois Municipal Retirement Fund now owns 9,841 shares of the company’s stock valued at $274,000 after purchasing an additional 1,192 shares in the last quarter. BNP Paribas Financial Markets increased its stake in Calavo Growers by 9.8% in the first quarter. BNP Paribas Financial Markets now owns 15,594 shares of the company’s stock valued at $434,000 after purchasing an additional 1,388 shares in the last quarter. Finally, Rhumbline Advisers raised its holdings in shares of Calavo Growers by 4.1% during the second quarter. Rhumbline Advisers now owns 57,119 shares of the company’s stock valued at $1,297,000 after purchasing an additional 2,247 shares during the period. Institutional investors and hedge funds own 81.30% of the company’s stock.

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.