Calavo Growers, Inc. (NASDAQ:CVGW – Get Rating) was the target of a significant decrease in short interest during the month of July. As of July 31st, there was short interest totalling 632,300 shares, a decrease of 10.5% from the July 15th total of 706,800 shares. Based on an average daily trading volume, of 110,700 shares, the short-interest ratio is currently 5.7 days. Currently, 3.7% of the shares of the company are short sold.
Institutional Trading of Calavo Growers
A number of hedge funds and other institutional investors have recently modified their holdings of the company. Captrust Financial Advisors increased its stake in shares of Calavo Growers by 17.0% in the second quarter. Captrust Financial Advisors now owns 2,089 shares of the company's stock worth $87,000 after purchasing an additional 303 shares in the last quarter. White Pine Capital LLC grew its stake in Calavo Growers by 4.7% during the second quarter. White Pine Capital LLC now owns 14,375 shares of the company's stock valued at $600,000 after acquiring an additional 640 shares in the last quarter. Thrivent Financial for Lutherans grew its stake in Calavo Growers by 20.9% during the second quarter. Thrivent Financial for Lutherans now owns 17,405 shares of the company's stock valued at $726,000 after acquiring an additional 3,014 shares in the last quarter. AQR Capital Management LLC purchased a new position in Calavo Growers during the second quarter valued at $496,000. Finally, State Street Corp grew its stake in Calavo Growers by 1.8% during the second quarter. State Street Corp now owns 640,518 shares of the company's stock valued at $26,722,000 after acquiring an additional 11,488 shares in the last quarter. 77.43% of the stock is owned by hedge funds and other institutional investors.
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Analyst Ratings Changes
A number of brokerages have commented on CVGW. Stephens upped their target price on shares of Calavo Growers to $40.00 in a report on Thursday, June 9th. StockNews.com raised shares of Calavo Growers from a "sell" rating to a "hold" rating in a report on Thursday, June 9th.
Calavo Growers Stock Up 0.4 %
CVGW stock traded up $0.16 during midday trading on Wednesday, reaching $44.42. 1,367 shares of the company's stock traded hands, compared to its average volume of 87,760. The stock's 50-day moving average is $41.59 and its 200 day moving average is $38.84. The company has a quick ratio of 0.94, a current ratio of 1.33 and a debt-to-equity ratio of 0.21. Calavo Growers has a 52-week low of $28.76 and a 52-week high of $52.29.
Calavo Growers (NASDAQ:CVGW – Get Rating) last announced its quarterly earnings data on Thursday, June 2nd. The company reported $0.33 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.24 by $0.09. The firm had revenue of $331.42 million during the quarter, compared to analysts' expectations of $316.85 million. Calavo Growers had a negative net margin of 2.59% and a positive return on equity of 0.41%. The company's revenue for the quarter was up 19.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.43 earnings per share. As a group, sell-side analysts expect that Calavo Growers will post 0.98 earnings per share for the current fiscal year.
Calavo Growers Company Profile
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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 in three segments: Fresh Products, Calavo Foods, and Renaissance Food Group (RFG).
Further Reading
- Get a free copy of the StockNews.com research report on Calavo Growers (CVGW)
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