BNP Paribas Arbitrage SA decreased its stake in shares of Calavo Growers, Inc. (NASDAQ:CVGW) by 10.8% during the first quarter, Holdings Channel reports. The firm owned 2,860 shares of the company’s stock after selling 345 shares during the period. BNP Paribas Arbitrage SA’s holdings in Calavo Growers were worth $173,000 at the end of the most recent quarter.
Other institutional investors have also added to or reduced their stakes in the company. Metropolitan Life Insurance Co. NY boosted its position in Calavo Growers by 0.3% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 11,022 shares of the company’s stock valued at $677,000 after buying an additional 30 shares during the period. State of Alaska Department of Revenue boosted its position in Calavo Growers by 1.8% in the first quarter. State of Alaska Department of Revenue now owns 1,690 shares of the company’s stock valued at $102,000 after buying an additional 30 shares during the period. Louisiana State Employees Retirement System boosted its position in Calavo Growers by 1.6% in the first quarter. Louisiana State Employees Retirement System now owns 6,300 shares of the company’s stock valued at $382,000 after buying an additional 100 shares during the period. Teachers Retirement System of The State of Kentucky boosted its position in Calavo Growers by 5.1% in the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 6,200 shares of the company’s stock valued at $381,000 after buying an additional 300 shares during the period. Finally, Thrivent Financial for Lutherans boosted its position in Calavo Growers by 5.6% in the fourth quarter. Thrivent Financial for Lutherans now owns 8,230 shares of the company’s stock valued at $505,000 after buying an additional 440 shares during the period. 82.28% of the stock is currently owned by institutional investors.
Shares of Calavo Growers, Inc. (CVGW) opened at 69.80 on Tuesday. Calavo Growers, Inc. has a 52 week low of $48.75 and a 52 week high of $76.85. The company has a market cap of $1.22 billion, a PE ratio of 30.36 and a beta of 0.55. The company has a 50 day moving average price of $68.61 and a 200 day moving average price of $61.62.
Calavo Growers (NASDAQ:CVGW) last announced its earnings results on Tuesday, June 6th. The company reported $0.74 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.66 by $0.08. Calavo Growers had a return on equity of 18.38% and a net margin of 3.99%. The business had revenue of $270.20 million for the quarter, compared to analyst estimates of $259.79 million. During the same quarter last year, the firm earned $0.56 EPS. Calavo Growers’s revenue for the quarter was up 22.7% compared to the same quarter last year. On average, equities analysts expect that Calavo Growers, Inc. will post $2.47 earnings per share for the current year.
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Several equities analysts have weighed in on the company. Stephens reaffirmed an “overweight” rating and set a $85.00 target price (up previously from $75.00) on shares of Calavo Growers in a research note on Friday, June 9th. Zacks Investment Research raised Calavo Growers from a “sell” rating to a “hold” rating in a research note on Thursday, March 9th. Finally, BidaskClub raised Calavo Growers from a “hold” rating to a “buy” rating in a research note on Friday, June 9th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $76.60.
In related news, Director Marc Laurence Brown sold 750 shares of Calavo Growers stock in a transaction that occurred on Wednesday, June 14th. The stock was sold at an average price of $75.10, for a total value of $56,325.00. Following the sale, the director now owns 10,100 shares of the company’s stock, valued at approximately $758,510. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman Lecil E. Cole bought 42,942 shares of the company’s stock in a transaction that occurred on Tuesday, April 11th. The stock was purchased at an average cost of $61.78 per share, for a total transaction of $2,652,956.76. Following the transaction, the chairman now owns 604,923 shares in the company, valued at approximately $37,372,142.94. The disclosure for this purchase can be found here. 9.90% of the stock is currently owned by company insiders.
Calavo Growers Company Profile
Calavo Growers, Inc operates in the avocado industry. The Company provides value-added fresh food. The Company distributes its products both domestically and internationally and internationally. It operates in three business segments: Fresh products, Calavo Foods and Renaissance Food Group, LLC (RFG).
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