Calavo Growers, Inc. (CVGW) To Go Ex-Dividend on April 1st

Calavo Growers, Inc. (NASDAQ:CVGW) announced a quarterly dividend on Friday, March 7th, Wall Street Journal reports. Investors of record on Tuesday, April 1st will be paid a dividend of 0.20 per share on Tuesday, April 29th. This represents a $0.80 annualized dividend and a yield of 3.30%. The ex-dividend date of this dividend is Tuesday, April 1st.

Calavo Growers has decreased its dividend by an average of 19.5% per year over the last three years. Calavo Growers has a payout ratio of 36.7% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Calavo Growers to earn $2.32 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 34.5%.

Calavo Growers Price Performance

NASDAQ CVGW opened at $24.22 on Friday. The stock has a market capitalization of $432.01 million, a price-to-earnings ratio of -403.67 and a beta of 0.57. Calavo Growers has a 1-year low of $20.30 and a 1-year high of $30.58. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.17 and a quick ratio of 1.70. The business’s fifty day moving average price is $23.39 and its 200-day moving average price is $25.74.

Calavo Growers (NASDAQ:CVGW) last announced its earnings results on Tuesday, January 14th. The company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.25). Calavo Growers had a positive return on equity of 9.66% and a negative net margin of 0.16%. The company had revenue of $169.96 million during the quarter, compared to the consensus estimate of $161.99 million. During the same period in the prior year, the business posted ($0.33) earnings per share. Calavo Growers’s revenue for the quarter was up 19.5% compared to the same quarter last year. On average, equities analysts predict that Calavo Growers will post 1.87 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Lake Street Capital cut their price target on Calavo Growers from $40.00 to $35.00 and set a “buy” rating for the company in a research note on Wednesday, January 15th. StockNews.com cut Calavo Growers from a “buy” rating to a “hold” rating in a research report on Friday, March 21st.

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.