Lake Street Capital reiterated their buy rating on shares of Calavo Growers (NASDAQ:CVGW) in a research report report published on Wednesday, Marketbeat.com reports. They currently have a $91.00 price objective on the stock, up from their previous price objective of $76.00.
CVGW has been the topic of several other reports. Zacks Investment Research raised shares of Calavo Growers from a hold rating to a buy rating and set a $79.00 price target on the stock in a research note on Tuesday, August 22nd. BidaskClub cut shares of Calavo Growers from a buy rating to a hold rating in a research note on Thursday, December 7th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock currently has an average rating of Buy and a consensus target price of $88.00.
Shares of Calavo Growers (NASDAQ CVGW) opened at $78.70 on Wednesday. The firm has a market cap of $1,380.00, a PE ratio of 36.95 and a beta of 0.65. Calavo Growers has a 52 week low of $48.75 and a 52 week high of $83.00.
The firm also recently disclosed an annual dividend, which was paid on Friday, December 8th. Investors of record on Friday, November 17th were issued a $0.95 dividend. This is a positive change from Calavo Growers’s previous annual dividend of $0.90. This represents a yield of 1.29%. The ex-dividend date of this dividend was Thursday, November 16th. Calavo Growers’s dividend payout ratio is currently 44.60%.
In related news, insider James E. Snyder sold 750 shares of the stock in a transaction that occurred on Tuesday, October 17th. The shares were sold at an average price of $70.19, for a total value of $52,642.50. Following the transaction, the insider now directly owns 11,095 shares in the company, valued at $778,758.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 9.90% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the business. Acrospire Investment Management LLC raised its holdings in Calavo Growers by 561.8% in 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 acquired a new stake in shares of Calavo Growers during the second quarter worth $128,000. Pinebridge Investments L.P. raised its holdings in shares of 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 acquiring an additional 29 shares during the period. Aviance Capital Management LLC acquired a new stake in shares of Calavo Growers during the second quarter worth $153,000. Finally, Victory Capital Management Inc. raised its holdings in shares of 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 acquiring an additional 367 shares during the period. Institutional investors own 92.17% of the company’s stock.
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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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