Calavo Growers (NASDAQ:CVGW) Price Target Lowered to $35.00 at Lake Street Capital

Calavo Growers (NASDAQ:CVGW) had its target price reduced by Lake Street Capital from $40.00 to $35.00 in a report issued on Wednesday morning,Benzinga reports. They currently have a buy rating on the stock.

Calavo Growers Stock Performance

Calavo Growers stock opened at $22.52 on Wednesday. The company has a market capitalization of $400.86 million, a PE ratio of -45.04 and a beta of 0.59. The company has a 50 day moving average price of $26.18 and a 200-day moving average price of $25.65. 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 has a fifty-two week low of $20.30 and a fifty-two week high of $31.26.

Calavo Growers (NASDAQ:CVGW) last issued its quarterly earnings data on Tuesday, January 14th. The company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.30 by ($0.25). The business had revenue of $169.96 million for the quarter, compared to analysts’ expectations of $161.99 million. Calavo Growers had a negative net margin of 1.21% and a positive return on equity of 6.35%. The business’s quarterly revenue was up 19.5% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.33) earnings per share. As a group, equities analysts forecast that Calavo Growers will post 1.31 earnings per share for the current year.

Calavo Growers Announces Dividend

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

Hedge Funds Weigh In On Calavo Growers

Several institutional investors have recently bought and sold shares of CVGW. Point72 DIFC Ltd increased its holdings in Calavo Growers by 42.3% during the third quarter. Point72 DIFC Ltd now owns 3,272 shares of the company’s stock valued at $93,000 after buying an additional 973 shares during the period. Janus Henderson Group PLC purchased a new position in Calavo Growers in the third quarter worth $219,000. LMR Partners LLP purchased a new position in Calavo Growers in the third quarter worth $253,000. Inspire Investing LLC purchased a new position in Calavo Growers in the second quarter worth $346,000. Finally, Quantbot Technologies LP purchased a new position in Calavo Growers in the third quarter worth $357,000. 81.30% of the stock is owned by hedge funds and other institutional investors.

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.