Pictet Asset Management Ltd. Makes New $12.58 Million Investment in Calavo Growers, Inc. (NASDAQ:CVGW)

Pictet Asset Management Ltd. bought a new position in shares of Calavo Growers, Inc. (NASDAQ:CVGW) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund bought 149,981 shares of the company’s stock, valued at approximately $12,576,000. Pictet Asset Management Ltd. owned about 0.85% of Calavo Growers at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Calavo Growers by 26.7% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 969 shares of the company’s stock valued at $71,000 after purchasing an additional 204 shares during the last quarter. Quantamental Technologies LLC bought a new stake in shares of Calavo Growers in the 1st quarter valued at $98,000. Pearl River Capital LLC boosted its stake in shares of Calavo Growers by 424.9% in the 1st quarter. Pearl River Capital LLC now owns 1,244 shares of the company’s stock valued at $104,000 after purchasing an additional 1,007 shares during the last quarter. Advisors Asset Management Inc. boosted its stake in shares of Calavo Growers by 39.9% in the 4th quarter. Advisors Asset Management Inc. now owns 1,607 shares of the company’s stock valued at $117,000 after purchasing an additional 458 shares during the last quarter. Finally, Nisa Investment Advisors LLC boosted its stake in shares of Calavo Growers by 1,071.4% in the 4th quarter. Nisa Investment Advisors LLC now owns 1,640 shares of the company’s stock valued at $120,000 after purchasing an additional 1,500 shares during the last quarter. 87.61% of the stock is currently owned by hedge funds and other institutional investors.

NASDAQ CVGW traded down $1.01 on Wednesday, hitting $93.86. 123,025 shares of the company were exchanged, compared to its average volume of 148,264. The stock has a market capitalization of $1.74 billion, a P/E ratio of 37.69 and a beta of 1.03. Calavo Growers, Inc. has a 12 month low of $67.52 and a 12 month high of $108.00. The stock’s fifty day moving average is $94.39. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.94 and a current ratio of 1.39.

Calavo Growers (NASDAQ:CVGW) last issued its earnings results on Thursday, June 6th. The company reported $0.92 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.77 by $0.15. Calavo Growers had a net margin of 2.84% and a return on equity of 17.76%. The business had revenue of $286.00 million for the quarter, compared to analyst estimates of $281.37 million. During the same period in the prior year, the firm earned $0.80 earnings per share. Calavo Growers’s revenue was up 8.3% on a year-over-year basis. As a group, research analysts anticipate that Calavo Growers, Inc. will post 2.74 earnings per share for the current year.

In other Calavo Growers news, VP Michael A. Browne sold 3,677 shares of the company’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $82.79, for a total transaction of $304,418.83. Following the transaction, the vice president now owns 9,884 shares in the company, valued at $818,296.36. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Lecil E. Cole sold 44,263 shares of the company’s stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $98.08, for a total transaction of $4,341,315.04. Following the transaction, the chief executive officer now owns 448,628 shares in the company, valued at approximately $44,001,434.24. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 70,009 shares of company stock worth $6,790,806. Corporate insiders own 7.30% of the company’s stock.

CVGW has been the topic of a number of analyst reports. Lake Street Capital upped their price objective on shares of Calavo Growers from $94.00 to $104.00 in a research note on Friday, June 7th. TheStreet raised shares of Calavo Growers from a “c” rating to a “b-” rating in a research note on Monday, March 11th. Zacks Investment Research raised shares of Calavo Growers from a “hold” rating to a “buy” rating and set a $101.00 price objective on the stock in a research note on Tuesday, April 9th. Vertical Group raised shares of Calavo Growers from a “hold” rating to a “buy” rating and set a $96.00 target price on the stock in a research note on Thursday, April 4th. Finally, BidaskClub lowered shares of Calavo Growers from a “strong-buy” rating to a “buy” rating in a research note on Friday, May 24th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $96.80.

Calavo Growers Company 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.

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

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