Calavo Growers, Inc. (CVGW) Stake Raised by Otter Creek Advisors LLC

Otter Creek Advisors LLC boosted its stake in Calavo Growers, Inc. (NASDAQ:CVGW) by 0.9% during the first quarter, Holdings Channel reports. The firm owned 267,995 shares of the company’s stock after buying an additional 2,297 shares during the period. Calavo Growers accounts for 2.4% of Otter Creek Advisors LLC’s portfolio, making the stock its 2nd largest position. Otter Creek Advisors LLC owned 1.53% of Calavo Growers worth $16,240,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. State of Alaska Department of Revenue boosted its position in shares of 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. Victory Capital Management Inc. boosted its position in shares of Calavo Growers by 54.7% in the first quarter. Victory Capital Management Inc. now owns 2,077 shares of the company’s stock valued at $126,000 after buying an additional 734 shares during the period. PNC Financial Services Group Inc. boosted its position in shares of Calavo Growers by 7.0% in the first quarter. PNC Financial Services Group Inc. now owns 2,169 shares of the company’s stock valued at $131,000 after buying an additional 142 shares during the period. Oppenheimer Asset Management Inc. bought a new stake in Calavo Growers during the first quarter worth about $150,000. Finally, Bank of Montreal Can boosted its stake in Calavo Growers by 33.9% in the first quarter. Bank of Montreal Can now owns 2,957 shares of the company’s stock worth $179,000 after buying an additional 748 shares during the last quarter. Hedge funds and other institutional investors own 82.38% of the company’s stock.

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

Calavo Growers, Inc. (CVGW) traded down 3.42% during midday trading on Friday, reaching $70.50. The company’s stock had a trading volume of 441,768 shares. Calavo Growers, Inc. has a 1-year low of $48.75 and a 1-year high of $76.85. The firm has a 50 day moving average price of $68.38 and a 200 day moving average price of $61.29. The firm has a market capitalization of $1.24 billion, a PE ratio of 30.67 and a beta of 0.55.

Calavo Growers (NASDAQ:CVGW) last posted its quarterly earnings data on Tuesday, June 6th. The company reported $0.74 EPS for the quarter, topping analysts’ consensus estimates of $0.66 by $0.08. The company had revenue of $270.20 million for the quarter, compared to analyst estimates of $259.79 million. Calavo Growers had a return on equity of 18.38% and a net margin of 3.99%. The business’s revenue was up 22.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.56 earnings per share. On average, analysts predict that Calavo Growers, Inc. will post $2.47 EPS for the current year.

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A number of equities research analysts have issued reports on CVGW shares. Zacks Investment Research cut Calavo Growers from a “buy” rating to a “hold” rating in a research note on Wednesday, February 22nd. BidaskClub upgraded Calavo Growers from a “hold” rating to a “buy” rating in a research note on Friday, June 9th. Finally, Stephens reiterated an “overweight” rating and issued a $85.00 target price (up from $75.00) on shares of Calavo Growers in a research note on Friday, June 9th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $76.60.

In other Calavo Growers news, Director Marc Laurence Brown sold 750 shares of the business’s stock in a transaction 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 transaction, the director now owns 10,100 shares of the company’s stock, valued at $758,510. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Chairman Lecil E. Cole acquired 42,942 shares of Calavo Growers stock in a transaction on Tuesday, April 11th. The stock was acquired at an average cost of $61.78 per share, for a total transaction of $2,652,956.76. Following the purchase, the chairman now owns 604,923 shares of the company’s stock, 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 insiders.

About Calavo Growers

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).

Want to see what other hedge funds are holding CVGW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Calavo Growers, Inc. (NASDAQ:CVGW).

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