Kingswood Wealth Advisors LLC Takes $247,000 Position in Calavo Growers, Inc. (NASDAQ:CVGW)

Kingswood Wealth Advisors LLC acquired a new position in Calavo Growers, Inc. (NASDAQ:CVGW) in the 4th quarter, HoldingsChannel.com reports. The fund acquired 9,690 shares of the company’s stock, valued at approximately $247,000.

Other hedge funds have also bought and sold shares of the company. Point72 DIFC Ltd lifted its position in shares of Calavo Growers by 42.3% during the third quarter. Point72 DIFC Ltd now owns 3,272 shares of the company’s stock worth $93,000 after acquiring an additional 973 shares in the last quarter. Janus Henderson Group PLC purchased a new position in shares of Calavo Growers in the third quarter valued at $219,000. LMR Partners LLP bought a new stake in shares of Calavo Growers during the 3rd quarter valued at $253,000. Quantbot Technologies LP purchased a new stake in Calavo Growers during the 3rd quarter worth about $357,000. Finally, DRW Securities LLC bought a new position in Calavo Growers in the 3rd quarter worth about $401,000. 81.30% of the stock is currently owned by hedge funds and other institutional investors.

Calavo Growers Price Performance

Shares of NASDAQ CVGW opened at $22.89 on Friday. Calavo Growers, Inc. 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 firm has a market capitalization of $408.36 million, a P/E ratio of -381.50 and a beta of 0.59. The stock’s 50-day simple moving average is $25.31 and its two-hundred day simple moving average is $25.80.

Calavo Growers (NASDAQ:CVGW) last released its quarterly earnings results on Tuesday, January 14th. The company reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.25). Calavo Growers had a negative net margin of 0.16% and a positive return on equity of 9.66%. The firm had revenue of $169.96 million for the quarter, compared to analysts’ expectations of $161.99 million. During the same quarter in the previous year, the business earned ($0.33) EPS. The company’s revenue for the quarter was up 19.5% on a year-over-year basis. As a group, equities analysts anticipate that Calavo Growers, Inc. will post 1.87 EPS for the current fiscal year.

Calavo Growers Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Stockholders 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 dividend yield of 3.49%. Calavo Growers’s dividend payout ratio is currently -1,333.33%.

Wall Street Analysts Forecast Growth

Separately, Lake Street Capital decreased their price target on Calavo Growers from $40.00 to $35.00 and set a “buy” rating on the stock in a research report on Wednesday, January 15th.

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.