Bank of New York Mellon Corp Acquires 5,655 Shares of Calavo Growers, Inc. (NASDAQ:CVGW)

Bank of New York Mellon Corp grew its holdings in shares of Calavo Growers, Inc. (NASDAQ:CVGW) by 3.1% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 189,032 shares of the company’s stock after purchasing an additional 5,655 shares during the quarter. Bank of New York Mellon Corp’s holdings in Calavo Growers were worth $4,291,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of Calavo Growers by 0.3% in the first quarter. Vanguard Group Inc. now owns 1,384,884 shares of the company’s stock valued at $38,514,000 after acquiring an additional 4,107 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Calavo Growers by 9.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 688,845 shares of the company’s stock valued at $20,259,000 after acquiring an additional 60,803 shares during the period. SG Capital Management LLC boosted its position in shares of Calavo Growers by 51.4% in the first quarter. SG Capital Management LLC now owns 404,278 shares of the company’s stock valued at $11,243,000 after acquiring an additional 137,325 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of Calavo Growers by 8.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 348,098 shares of the company’s stock valued at $10,238,000 after acquiring an additional 26,434 shares during the period. Finally, GSA Capital Partners LLP boosted its position in shares of Calavo Growers by 4.9% in the fourth quarter. GSA Capital Partners LLP now owns 128,056 shares of the company’s stock valued at $3,766,000 after acquiring an additional 6,030 shares during the period. 81.30% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com upgraded shares of Calavo Growers from a “sell” rating to a “hold” rating in a research report on Saturday, August 3rd.

Calavo Growers Trading Down 2.1 %

Shares of CVGW opened at $29.02 on Friday. The firm’s 50 day simple moving average is $23.64 and its 200 day simple moving average is $25.56. The company has a market capitalization of $516.56 million, a P/E ratio of -322.44 and a beta of 0.56. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.04 and a quick ratio of 1.66. Calavo Growers, Inc. has a 1-year low of $20.30 and a 1-year high of $31.26.

Calavo Growers Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 30th. Investors of record on Wednesday, October 2nd will be paid a $0.20 dividend. This is an increase from Calavo Growers’s previous quarterly dividend of $0.10. This represents a $0.80 dividend on an annualized basis and a yield of 2.76%. The ex-dividend date of this dividend is Wednesday, October 2nd. Calavo Growers’s dividend payout ratio (DPR) is currently -444.44%.

Calavo Growers 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.