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

Calavo Growers (NASDAQ:CVGW) had its price objective decreased by Lake Street Capital from $40.00 to $35.00 in a research note issued to investors on Wednesday,Benzinga reports. Lake Street Capital currently has a buy rating on the stock.

Calavo Growers Stock Up 1.5 %

Calavo Growers stock opened at $24.69 on Wednesday. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.04 and a quick ratio of 1.77. Calavo Growers has a fifty-two week low of $20.30 and a fifty-two week high of $31.26. The firm has a fifty day moving average price of $26.02 and a two-hundred day moving average price of $25.66. The firm has a market cap of $439.48 million, a price-to-earnings ratio of -49.38 and a beta of 0.59.

Calavo Growers (NASDAQ:CVGW) last posted its quarterly earnings data on Tuesday, January 14th. The company reported $0.05 earnings per share 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 analyst estimates of $161.99 million. Calavo Growers had a positive return on equity of 6.35% and a negative net margin of 1.21%. Calavo Growers’s revenue for the quarter was up 19.5% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.33) EPS. As a group, analysts forecast that Calavo Growers will post 1.31 earnings per share for the current year.

Calavo Growers Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Friday, January 10th will be paid a $0.20 dividend. The ex-dividend date is Friday, January 10th. This represents a $0.80 annualized dividend and a dividend yield of 3.24%. Calavo Growers’s payout ratio is -160.00%.

Hedge Funds Weigh In On Calavo Growers

Several large investors have recently bought and sold shares of CVGW. Inspire Investing LLC grew its position in Calavo Growers by 9.2% in the 4th quarter. Inspire Investing LLC now owns 15,713 shares of the company’s stock worth $401,000 after purchasing an additional 1,321 shares during the last quarter. Jackson Square Capital LLC lifted its stake in shares of Calavo Growers by 13.2% in the fourth quarter. Jackson Square Capital LLC now owns 29,792 shares of the company’s stock valued at $760,000 after buying an additional 3,478 shares during the period. Assenagon Asset Management S.A. acquired a new stake in Calavo Growers during the fourth quarter worth about $1,371,000. JPMorgan Chase & Co. increased its stake in Calavo Growers by 221.1% during the third quarter. JPMorgan Chase & Co. now owns 123,841 shares of the company’s stock valued at $3,533,000 after acquiring an additional 85,272 shares during the period. Finally, Barclays PLC increased its stake in Calavo Growers by 338.3% during the third quarter. Barclays PLC now owns 26,625 shares of the company’s stock valued at $759,000 after acquiring an additional 20,551 shares during the period. 81.30% of the stock is currently owned by institutional investors and hedge funds.

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.