Ameriprise Financial Inc. Has $7.26 Million Stake in Calavo Growers, Inc. (CVGW)

Ameriprise Financial Inc. lifted its stake in shares of Calavo Growers, Inc. (NASDAQ:CVGW) by 2.6% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 99,208 shares of the company’s stock after purchasing an additional 2,531 shares during the period. Ameriprise Financial Inc. owned 0.57% of Calavo Growers worth $7,262,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in CVGW. Bank of Montreal Can raised its stake in shares of Calavo Growers by 25.9% during the 2nd quarter. Bank of Montreal Can now owns 3,724 shares of the company’s stock worth $257,000 after purchasing an additional 767 shares in the last quarter. Aperio Group LLC bought a new stake in Calavo Growers in the 2nd quarter valued at $213,000. Municipal Employees Retirement System of Michigan raised its stake in Calavo Growers by 3.4% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 3,620 shares of the company’s stock valued at $250,000 after acquiring an additional 120 shares during the period. Great West Life Assurance Co. Can raised its stake in Calavo Growers by 3.7% in the 2nd quarter. Great West Life Assurance Co. Can now owns 22,328 shares of the company’s stock valued at $1,540,000 after acquiring an additional 800 shares during the period. Finally, Schwab Charles Investment Management Inc. raised its stake in Calavo Growers by 4.0% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 73,786 shares of the company’s stock valued at $5,095,000 after acquiring an additional 2,853 shares during the period. Institutional investors own 92.17% of the company’s stock.

Shares of Calavo Growers, Inc. (CVGW) opened at $78.70 on Tuesday. Calavo Growers, Inc. has a 12 month low of $48.75 and a 12 month high of $83.00. The firm has a market capitalization of $1,380.00, a price-to-earnings ratio of 36.95 and a beta of 0.65.

Calavo Growers (NASDAQ:CVGW) last posted its quarterly earnings results on Tuesday, December 19th. The company reported $0.59 earnings per share for the quarter, beating analysts’ consensus estimates of $0.50 by $0.09. Calavo Growers had a return on equity of 16.01% and a net margin of 3.47%. The business had revenue of $277.20 million for the quarter, compared to analysts’ expectations of $297.40 million. During the same quarter in the prior year, the business earned $0.53 EPS. The firm’s revenue for the quarter was up 11.9% on a year-over-year basis. equities analysts forecast that Calavo Growers, Inc. will post 2.86 earnings per share for the current year.

The company also recently disclosed an annual dividend, which was paid on Friday, December 8th. Shareholders of record on Friday, November 17th were given a dividend of $0.95 per share. This is a boost from Calavo Growers’s previous annual dividend of $0.90. The ex-dividend date was Thursday, November 16th. This represents a yield of 1.29%. Calavo Growers’s dividend payout ratio (DPR) is presently 44.60%.

A number of equities research analysts recently weighed in on CVGW shares. Zacks Investment Research upgraded Calavo Growers from a “sell” rating to a “hold” rating in a research note on Tuesday, August 29th. BidaskClub cut Calavo Growers from a “buy” rating to a “hold” rating in a research note on Thursday, December 7th. Stephens increased their price target on Calavo Growers from $85.00 to $100.00 and gave the company an “overweight” rating in a research note on Wednesday, December 20th. Finally, Lake Street Capital restated a “buy” rating and issued a $91.00 price target (up previously from $76.00) on shares of Calavo Growers in a research note on Wednesday, December 20th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $88.00.

In other Calavo Growers news, insider James E. Snyder sold 750 shares of the stock in a transaction on Tuesday, October 17th. The stock was 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 in the company, valued at approximately $778,758.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 9.90% of the stock is owned by company insiders.

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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).

Institutional Ownership by Quarter for Calavo Growers (NASDAQ:CVGW)

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