Calavo Growers (NASDAQ:CVGW) Shares Gap Up to $24.99

Calavo Growers, Inc. (NASDAQ:CVGWGet Free Report)’s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $24.99, but opened at $29.18. Calavo Growers shares last traded at $28.73, with a volume of 166,121 shares changing hands.

Calavo Growers Price Performance

The stock has a market cap of $488.79 million, a P/E ratio of -41.61 and a beta of 0.61. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.03 and a quick ratio of 1.70. The company’s 50 day simple moving average is $26.73 and its 200 day simple moving average is $27.35.

Calavo Growers (NASDAQ:CVGWGet Free Report) last issued its quarterly earnings data on Monday, March 11th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by ($0.18). The business had revenue of $127.60 million during the quarter, compared to analyst estimates of $254.25 million. Calavo Growers had a negative net margin of 1.32% and a positive return on equity of 0.49%. Calavo Growers’s revenue for the quarter was down 3.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.08) earnings per share. As a group, equities analysts forecast that Calavo Growers, Inc. will post 1.02 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in CVGW. SG Capital Management LLC lifted its position in Calavo Growers by 51.4% in the 1st quarter. SG Capital Management LLC now owns 404,278 shares of the company’s stock valued at $11,243,000 after acquiring an additional 137,325 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Calavo Growers by 4.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 12,819 shares of the company’s stock worth $357,000 after purchasing an additional 582 shares in the last quarter. Gamco Investors INC. ET AL boosted its holdings in shares of Calavo Growers by 4.4% in the 1st quarter. Gamco Investors INC. ET AL now owns 123,250 shares of the company’s stock valued at $3,428,000 after buying an additional 5,200 shares during the last quarter. EntryPoint Capital LLC grew its stake in shares of Calavo Growers by 318.4% in the first quarter. EntryPoint Capital LLC now owns 5,380 shares of the company’s stock valued at $150,000 after buying an additional 4,094 shares in the last quarter. Finally, CANADA LIFE ASSURANCE Co increased its holdings in Calavo Growers by 23.8% during the first quarter. CANADA LIFE ASSURANCE Co now owns 15,030 shares of the company’s stock worth $417,000 after buying an additional 2,891 shares during the last quarter. Institutional investors and hedge funds own 81.30% of the company’s stock.

Calavo Growers Company Profile

(Get Free Report)

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.

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