Norges Bank Purchases Shares of 167,624 Calavo Growers, Inc. (NASDAQ:CVGW)

Norges Bank purchased a new stake in Calavo Growers, Inc. (NASDAQ:CVGW) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 167,624 shares of the company’s stock, valued at approximately $12,230,000. Norges Bank owned approximately 0.95% of Calavo Growers at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. BlackRock Inc. increased its position in shares of Calavo Growers by 2.2% during the fourth quarter. BlackRock Inc. now owns 2,435,811 shares of the company’s stock worth $177,716,000 after purchasing an additional 52,059 shares in the last quarter. Vanguard Group Inc. increased its position in Calavo Growers by 10.4% in the 3rd quarter. Vanguard Group Inc. now owns 1,112,251 shares of the company’s stock valued at $107,443,000 after acquiring an additional 104,740 shares during the period. Vanguard Group Inc increased its position in Calavo Growers by 10.4% in the 3rd quarter. Vanguard Group Inc now owns 1,112,251 shares of the company’s stock valued at $107,443,000 after acquiring an additional 104,740 shares during the period. Dimensional Fund Advisors LP increased its position in Calavo Growers by 1.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 667,196 shares of the company’s stock valued at $48,679,000 after acquiring an additional 9,782 shares during the period. Finally, Bank of New York Mellon Corp increased its position in Calavo Growers by 0.9% in the 3rd quarter. Bank of New York Mellon Corp now owns 438,400 shares of the company’s stock valued at $42,348,000 after acquiring an additional 3,930 shares during the period. Institutional investors own 86.84% of the company’s stock.

CVGW traded down $0.67 during trading on Wednesday, reaching $93.55. The company’s stock had a trading volume of 45,193 shares, compared to its average volume of 147,235. The firm has a market capitalization of $1.65 billion, a PE ratio of 37.57 and a beta of 0.98. Calavo Growers, Inc. has a 52-week low of $67.52 and a 52-week high of $108.00.

Calavo Growers (NASDAQ:CVGW) last announced its quarterly earnings results on Thursday, March 7th. The company reported $0.74 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.50 by $0.24. The business had revenue of $258.00 million for the quarter, compared to analyst estimates of $257.86 million. Calavo Growers had a return on equity of 17.32% and a net margin of 2.70%. The company’s quarterly revenue was up 4.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.54 EPS. On average, equities analysts predict that Calavo Growers, Inc. will post 3.17 EPS for the current fiscal year.

In related news, Director Donald M. Sanders sold 1,776 shares of Calavo Growers stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $95.00, for a total transaction of $168,720.00. Following the completion of the transaction, the director now directly owns 18,663 shares in the company, valued at approximately $1,772,985. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Michael Anthony Digregorio sold 1,750 shares of Calavo Growers stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $84.02, for a total value of $147,035.00. Following the transaction, the director now owns 11,750 shares of the company’s stock, valued at $987,235. The disclosure for this sale can be found here. Insiders have sold a total of 35,437 shares of company stock worth $2,996,922 in the last three months. Corporate insiders own 7.30% of the company’s stock.

Several brokerages recently issued reports on CVGW. BidaskClub upgraded Calavo Growers from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, May 15th. Zacks Investment Research upgraded Calavo Growers from a “hold” rating to a “buy” rating and set a $101.00 price target on the stock in a research report on Tuesday, April 9th. ValuEngine upgraded Calavo Growers from a “hold” rating to a “buy” rating in a research report on Wednesday, April 24th. Vertical Group raised Calavo Growers from a “hold” rating to a “buy” rating and set a $96.00 price objective on the stock in a report on Thursday, April 4th. Finally, TheStreet raised Calavo Growers from a “c” rating to a “b-” rating in a report on Monday, March 11th. One equities research analyst has rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $95.40.

TRADEMARK VIOLATION NOTICE: “Norges Bank Purchases Shares of 167,624 Calavo Growers, Inc. (NASDAQ:CVGW)” was first published by Sundance Herald and is the property of of Sundance Herald. If you are accessing this article on another domain, it was stolen and republished in violation of U.S. & international copyright law. The original version of this article can be viewed at https://sundanceherald.com/2019/05/22/norges-bank-invests-12-23-million-in-calavo-growers-inc-cvgw-stock.html.

Calavo Growers Profile

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. 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 California, Mexico, and Peru, as well as various other commodities, including tomatoes and papayas.

Further Reading: What is a Roth IRA?

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

Receive News & Ratings for Calavo Growers Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Calavo Growers and related companies with MarketBeat.com's FREE daily email newsletter.



Leave a Reply