Calavo Growers, Inc. (NASDAQ:CVGW) Short Interest Update

Calavo Growers, Inc. (NASDAQ:CVGW) saw a significant growth in short interest in July. As of July 15th, there was short interest totalling 893,500 shares, a growth of 14.6% from the June 30th total of 779,800 shares. Based on an average daily trading volume, of 204,600 shares, the short-interest ratio is currently 4.4 days. Currently, 5.3% of the shares of the stock are short sold.

Calavo Growers Trading Down 1.9 %

CVGW stock traded down $0.44 during midday trading on Monday, reaching $23.16. 37,636 shares of the company traded hands, compared to its average volume of 189,275. Calavo Growers has a 52-week low of $20.90 and a 52-week high of $38.50. The company has a current ratio of 1.97, a quick ratio of 1.66 and a debt-to-equity ratio of 0.24. The business has a 50 day moving average of $24.31 and a 200-day moving average of $26.46.

Calavo Growers (NASDAQ:CVGW) last issued its quarterly earnings data on Monday, June 10th. The company reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.19. Calavo Growers had a positive return on equity of 4.84% and a negative net margin of 0.18%. The business had revenue of $184.38 million for the quarter, compared to the consensus estimate of $157.00 million. On average, sell-side analysts forecast that Calavo Growers will post 1.15 earnings per share for the current year.

Calavo Growers Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 30th. Stockholders of record on Tuesday, July 2nd will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Tuesday, July 2nd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.73%. Calavo Growers’s dividend payout ratio is -444.44%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Principal Financial Group Inc. grew its stake in shares of Calavo Growers by 0.4% during the first quarter. Principal Financial Group Inc. now owns 92,696 shares of the company’s stock valued at $2,578,000 after buying an additional 392 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Calavo Growers by 4.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 12,819 shares of the company’s stock valued at $357,000 after buying an additional 582 shares during the last quarter. Illinois Municipal Retirement Fund grew its stake in shares of Calavo Growers by 13.8% during the first quarter. Illinois Municipal Retirement Fund now owns 9,841 shares of the company’s stock valued at $274,000 after buying an additional 1,192 shares during the last quarter. BNP Paribas Financial Markets grew its stake in shares of Calavo Growers by 9.8% during the first quarter. BNP Paribas Financial Markets now owns 15,594 shares of the company’s stock valued at $434,000 after buying an additional 1,388 shares during the last quarter. Finally, Summit Securities Group LLC bought a new position in Calavo Growers in the second quarter worth approximately $56,000. Institutional investors own 81.30% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com downgraded Calavo Growers from a “hold” rating to a “sell” rating in a research report on Friday.

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.