Calavo Growers, Inc. (NASDAQ:CVGW) Short Interest Update

Calavo Growers, Inc. (NASDAQ:CVGW) was the target of a large decline in short interest in February. As of February 15th, there was short interest totalling 375,300 shares, a decline of 14.8% from the January 31st total of 440,300 shares. Approximately 2.2% of the shares of the stock are sold short. Based on an average daily trading volume, of 175,000 shares, the days-to-cover ratio is presently 2.1 days.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Nuance Investments LLC grew its holdings in shares of Calavo Growers by 1.6% during the 4th quarter. Nuance Investments LLC now owns 1,663,515 shares of the company’s stock valued at $42,420,000 after purchasing an additional 26,546 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Calavo Growers by 2.0% during the fourth quarter. Vanguard Group Inc. now owns 1,148,505 shares of the company’s stock valued at $29,287,000 after buying an additional 22,777 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Calavo Growers by 5.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 698,701 shares of the company’s stock worth $17,817,000 after buying an additional 34,263 shares during the period. American Century Companies Inc. lifted its stake in shares of Calavo Growers by 26.8% in the 4th quarter. American Century Companies Inc. now owns 445,817 shares of the company’s stock valued at $11,368,000 after acquiring an additional 94,221 shares during the last quarter. Finally, Russell Investments Group Ltd. boosted its holdings in Calavo Growers by 6.9% during the 4th quarter. Russell Investments Group Ltd. now owns 335,914 shares of the company’s stock valued at $8,566,000 after acquiring an additional 21,584 shares during the period. 81.30% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Lake Street Capital reduced their price objective on shares of Calavo Growers from $40.00 to $35.00 and set a “buy” rating for the company in a research note on Wednesday, January 15th.

Calavo Growers Stock Performance

NASDAQ:CVGW opened at $22.66 on Friday. Calavo Growers has a twelve month low of $20.30 and a twelve month high of $31.26. The company has a quick ratio of 1.70, a current ratio of 2.17 and a debt-to-equity ratio of 0.02. The stock has a market cap of $404.19 million, a P/E ratio of -377.67 and a beta of 0.57. The business’s 50-day moving average price is $23.75 and its two-hundred day moving average price is $25.80.

Calavo Growers (NASDAQ:CVGW) last released 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 company had revenue of $169.96 million during the quarter, compared to analysts’ expectations of $161.99 million. Calavo Growers had a positive return on equity of 9.66% and a negative net margin of 0.16%. Calavo Growers’s quarterly revenue was up 19.5% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.33) EPS. As a group, equities analysts predict that Calavo Growers will post 1.87 EPS for the current fiscal year.

Calavo Growers Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Friday, January 10th were given a $0.20 dividend. The ex-dividend date of this dividend was Friday, January 10th. This represents a $0.80 dividend on an annualized basis and a yield of 3.53%. Calavo Growers’s payout ratio is -1,333.33%.

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 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.