Calavo Growers (CVGW) Stock Rating Lowered by Zacks Investment Research
Calavo Growers (NASDAQ:CVGW) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.
According to Zacks, “Calavo Growers, Inc. is a global avocado-industry leader and an expanding provider of value-added fresh food. The company also procures and markets diversified fresh produce items, ranging from tomatoes to tropical produce. It operates in three segments: Fresh Products, Calavo Foods, and RFG. The Fresh products segment distributes avocados and other fresh produce products; and procures avocados grown in Mexico, as well as various other commodities, including tomatoes, papayas, and pineapples. The Calavo Foods segment is involved in purchasing, manufacturing, and distributing prepared products, including guacamole and salsa. The RFG segment produces, markets, and distributes fresh-cut fruits, ready-to-eat vegetables, recipe-ready vegetables, and deli products. The company offers its products primarily under the Calavo and RFG brands, and related logos; and Avo Fresco, Bueno, Calavo Gold, Calavo Salsa Lisa, Salsa Lisa, Celebrate the Taste, El Dorado, Fresh Ripe, Select etc. “
CVGW has been the topic of a number of other research reports. BidaskClub raised Calavo Growers from a “hold” rating to a “buy” rating in a report on Tuesday, March 27th. Stephens increased their target price on Calavo Growers to $100.00 and gave the stock an “overweight” rating in a report on Wednesday, March 21st. Lake Street Capital set a $91.00 target price on Calavo Growers and gave the stock a “buy” rating in a report on Thursday, March 8th. ValuEngine raised Calavo Growers from a “hold” rating to a “buy” rating in a report on Monday, April 2nd. Finally, Buckingham Research reaffirmed a “buy” rating and set a $95.00 target price (up previously from $88.00) on shares of Calavo Growers in a report on Thursday, March 8th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $96.25.
Calavo Growers (NASDAQ:CVGW) last released its earnings results on Wednesday, March 7th. The company reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.11. Calavo Growers had a return on equity of 16.95% and a net margin of 3.57%. The company had revenue of $247.90 million for the quarter, compared to the consensus estimate of $272.89 million. During the same quarter last year, the business posted $0.34 EPS. Calavo Growers’s quarterly revenue was up 9.4% compared to the same quarter last year. sell-side analysts expect that Calavo Growers will post 3.17 earnings per share for the current year.
In other news, Director J Link Leavens sold 7,500 shares of the stock in a transaction that occurred on Thursday, March 29th. The stock was sold at an average price of $92.31, for a total transaction of $692,325.00. Following the sale, the director now directly owns 92,528 shares in the company, valued at approximately $8,541,259.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Michael A. Browne sold 6,500 shares of the stock in a transaction that occurred on Thursday, March 29th. The stock was sold at an average price of $92.15, for a total value of $598,975.00. Following the sale, the vice president now owns 13,117 shares in the company, valued at $1,208,731.55. The disclosure for this sale can be found here. 8.40% of the stock is currently owned by corporate insiders.
Institutional investors have recently made changes to their positions in the company. Creative Planning acquired a new stake in shares of Calavo Growers during the 4th quarter worth approximately $248,000. Deutsche Bank AG raised its position in shares of Calavo Growers by 55.5% during the 4th quarter. Deutsche Bank AG now owns 59,521 shares of the company’s stock worth $5,023,000 after purchasing an additional 21,256 shares during the period. Swiss National Bank raised its position in shares of Calavo Growers by 4.3% during the 4th quarter. Swiss National Bank now owns 26,900 shares of the company’s stock worth $2,270,000 after purchasing an additional 1,100 shares during the period. Koch Industries Inc. acquired a new stake in shares of Calavo Growers during the 4th quarter worth approximately $217,000. Finally, Probabilities Fund Management LLC acquired a new stake in shares of Calavo Growers during the 4th quarter worth approximately $885,000. Institutional investors and hedge funds own 86.37% of the company’s stock.
About Calavo Growers
Calavo Growers, Inc markets and distributes avocados, prepared avocados, and other perishable foods to grocery retailers, food services, club stores, mass merchandisers, food distributors, wholesalers, supermarkets, specialty/natural retailers, and convenience stores worldwide. It operates in three segments: Fresh Products, Calavo Foods, and RFG.
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