Calavo Growers (NASDAQ:CVGW) Stock Price Passes Above Two Hundred Day Moving Average – Time to Sell?

Calavo Growers, Inc. (NASDAQ:CVGW)’s share price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $25.69 and traded as high as $28.82. Calavo Growers shares last traded at $28.44, with a volume of 112,082 shares traded.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised Calavo Growers from a “sell” rating to a “hold” rating in a research note on Saturday, August 3rd.

Calavo Growers Stock Down 0.4 %

The stock has a market capitalization of $496.62 million, a price-to-earnings ratio of -55.80 and a beta of 0.58. The business has a 50-day moving average of $27.86 and a 200-day moving average of $25.71. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.77 and a current ratio of 2.04.

Calavo Growers (NASDAQ:CVGW) last posted its earnings results on Monday, September 9th. The company reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.21. Calavo Growers had a negative net margin of 1.21% and a positive return on equity of 6.35%. The firm had revenue of $179.60 million during the quarter, compared to the consensus estimate of $175.00 million. On average, sell-side analysts expect that Calavo Growers, Inc. will post 1.31 EPS for the current year.

Calavo Growers Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 30th. Stockholders of record on Wednesday, October 2nd were paid a $0.20 dividend. This is a positive change from Calavo Growers’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend was Wednesday, October 2nd. This represents a $0.80 annualized dividend and a dividend yield of 2.87%. Calavo Growers’s dividend payout ratio (DPR) is presently -160.00%.

Hedge Funds Weigh In On Calavo Growers

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CVGW. BNP Paribas Financial Markets grew its stake in Calavo Growers by 54.1% during the 3rd quarter. BNP Paribas Financial Markets now owns 41,473 shares of the company’s stock worth $1,183,000 after purchasing an additional 14,568 shares in the last quarter. Quantbot Technologies LP purchased a new stake in shares of Calavo Growers during the third quarter worth approximately $357,000. DRW Securities LLC acquired a new stake in Calavo Growers in the third quarter valued at approximately $401,000. Landscape Capital Management L.L.C. purchased a new position in Calavo Growers in the third quarter worth approximately $825,000. Finally, Nuance Investments LLC grew its holdings in Calavo Growers by 25.1% during the 3rd quarter. Nuance Investments LLC now owns 1,636,969 shares of the company’s stock worth $46,703,000 after acquiring an additional 328,820 shares in the last quarter. Hedge funds and other institutional investors own 81.30% of the company’s stock.

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.