Short Interest in Calavo Growers, Inc. (CVGW) Declines By 4.4%

Calavo Growers, Inc. (NASDAQ:CVGW) was the recipient of a large decline in short interest during the month of November. As of November 30th, there was short interest totalling 5,510,036 shares, a decline of 4.4% from the November 15th total of 5,761,426 shares. Currently, 36.2% of the company’s shares are sold short. Based on an average trading volume of 87,777 shares, the days-to-cover ratio is presently 62.8 days.

Calavo Growers (CVGW) traded up $0.65 during midday trading on Monday, reaching $75.10. 269,900 shares of the company’s stock were exchanged, compared to its average volume of 159,885. Calavo Growers has a 52 week low of $48.75 and a 52 week high of $77.89. The firm has a market capitalization of $1,316.73, a PE ratio of 35.59 and a beta of 0.65.

The business also recently announced an annual dividend, which was paid on Friday, December 8th. Shareholders of record on Friday, November 17th were given a $0.95 dividend. The ex-dividend date of this dividend was Thursday, November 16th. This represents a yield of 1.29%. This is a boost from Calavo Growers’s previous annual dividend of $0.90. Calavo Growers’s dividend payout ratio is presently 45.89%.

In other news, insider James E. Snyder sold 750 shares of the business’s stock in a transaction dated Tuesday, October 17th. The shares were sold at an average price of $70.19, for a total transaction of $52,642.50. Following the transaction, the insider now owns 11,095 shares of the company’s stock, valued at approximately $778,758.05. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 9.90% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Acrospire Investment Management LLC increased its stake in Calavo Growers by 561.8% during the second quarter. Acrospire Investment Management LLC now owns 1,767 shares of the company’s stock worth $122,000 after purchasing an additional 1,500 shares during the period. SG Americas Securities LLC purchased a new stake in Calavo Growers during the second quarter worth about $128,000. Pinebridge Investments L.P. increased its stake in Calavo Growers by 1.4% during the second quarter. Pinebridge Investments L.P. now owns 2,031 shares of the company’s stock worth $140,000 after purchasing an additional 29 shares during the period. Aviance Capital Management LLC purchased a new stake in Calavo Growers during the second quarter worth about $153,000. Finally, Victory Capital Management Inc. increased its stake in Calavo Growers by 17.7% during the second quarter. Victory Capital Management Inc. now owns 2,444 shares of the company’s stock worth $169,000 after purchasing an additional 367 shares during the period. 92.22% of the stock is currently owned by institutional investors.

A number of research firms have commented on CVGW. BidaskClub cut shares of Calavo Growers from a “buy” rating to a “hold” rating in a research report on Thursday, December 7th. Zacks Investment Research raised shares of Calavo Growers from a “sell” rating to a “hold” rating in a research report on Tuesday, November 7th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $79.40.

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Calavo Growers Company Profile

Calavo Growers, Inc operates in the avocado industry. The Company provides value-added fresh food. The Company distributes its products both domestically and internationally and internationally. It operates in three business segments: Fresh products, Calavo Foods and Renaissance Food Group, LLC (RFG).

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