Short Interest in Calavo Growers, Inc. (NASDAQ:CVGW) Drops By 7.9%

Calavo Growers, Inc. (NASDAQ:CVGW) was the recipient of a significant decline in short interest during the month of March. As of March 31st, there was short interest totalling 967,100 shares, a decline of 7.9% from the March 15th total of 1,050,000 shares. Based on an average trading volume of 183,000 shares, the short-interest ratio is presently 5.3 days. Approximately 5.8% of the shares of the company are sold short.

Analyst Ratings Changes

Separately, Stephens reaffirmed an “equal weight” rating and issued a $32.00 target price on shares of Calavo Growers in a report on Wednesday, January 17th.

Calavo Growers Stock Performance

CVGW stock traded up $0.51 during trading on Tuesday, hitting $25.15. The company had a trading volume of 127,428 shares, compared to its average volume of 176,207. Calavo Growers has a 1-year low of $21.42 and a 1-year high of $38.97. The firm has a 50-day moving average price of $27.73 and a 200-day moving average price of $26.82. The company has a quick ratio of 1.70, a current ratio of 2.03 and a debt-to-equity ratio of 0.24. The firm has a market cap of $447.67 million, a PE ratio of -38.11 and a beta of 0.65.

Calavo Growers (NASDAQ:CVGW) last released its earnings results on Monday, March 11th. The company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.17 by ($0.18). Calavo Growers had a positive return on equity of 0.49% and a negative net margin of 1.32%. The firm had revenue of $127.60 million during the quarter, compared to analyst estimates of $254.25 million. During the same quarter last year, the business posted ($0.08) EPS. The firm’s revenue was down 3.9% on a year-over-year basis. On average, analysts expect that Calavo Growers will post 1.04 earnings per share for the current year.

Calavo Growers Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 29th. Shareholders of record on Monday, April 1st will be issued a $0.10 dividend. The ex-dividend date is Thursday, March 28th. This represents a $0.40 dividend on an annualized basis and a yield of 1.59%. Calavo Growers’s dividend payout ratio (DPR) is presently -60.61%.

Hedge Funds Weigh In On Calavo Growers

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in shares of Calavo Growers by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 1,380,777 shares of the company’s stock worth $40,609,000 after acquiring an additional 10,709 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in Calavo Growers by 3.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 12,237 shares of the company’s stock worth $360,000 after acquiring an additional 462 shares during the last quarter. GSA Capital Partners LLP grew its stake in Calavo Growers by 4.9% in the 4th quarter. GSA Capital Partners LLP now owns 128,056 shares of the company’s stock worth $3,766,000 after acquiring an additional 6,030 shares during the period. Barclays PLC raised its holdings in Calavo Growers by 220.7% in the 4th quarter. Barclays PLC now owns 27,100 shares of the company’s stock valued at $797,000 after acquiring an additional 18,651 shares during the last quarter. Finally, Voya Investment Management LLC purchased a new position in shares of Calavo Growers during the 4th quarter worth $212,000. 81.30% of the stock is 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.