The Calavo Growers Inc. Forecasted to Post Q1 2017 Earnings of $0.42 Per Share (CVGW)

The Calavo Growers Inc. Forecasted to Post Q1 2017 Earnings of $0.42 Per Share (CVGW)

Calavo Growers Inc. (NASDAQ:CVGW) – Investment analysts at Lake Street Capital lifted their Q1 2017 earnings per share (EPS) estimates for shares of Calavo Growers in a report released on Tuesday. Lake Street Capital analyst C. Krueger now anticipates that the firm will post earnings per share of $0.42 for the quarter, up from their previous estimate of $0.41. Lake Street Capital has a “Buy” rating and a $76.00 price objective on the stock. Lake Street Capital also issued estimates for Calavo Growers’ Q2 2017 earnings at $0.63 EPS, Q3 2017 earnings at $0.81 EPS, Q4 2017 earnings at $0.65 EPS and FY2017 earnings at $2.51 EPS.

A number of other analysts have also recently issued reports on the company. DA Davidson raised Calavo Growers from a “neutral” rating to a “buy” rating and set a $70.00 target price for the company in a research note on Thursday, December 15th. Zacks Investment Research cut Calavo Growers from a “buy” rating to a “hold” rating in a research note on Monday, November 14th. Finally, Stephens raised Calavo Growers from an “equal weight” rating to an “overweight” rating in a research note on Friday, November 11th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $68.14.

Calavo Growers (NASDAQ:CVGW) opened at 62.95 on Wednesday. The stock has a 50 day moving average of $59.51 and a 200-day moving average of $63.26. The company has a market cap of $1.10 billion, a price-to-earnings ratio of 32.60 and a beta of 0.56. Calavo Growers has a 52-week low of $46.56 and a 52-week high of $71.48.

Several large investors have recently added to or reduced their stakes in CVGW. BlackRock Fund Advisors increased its stake in Calavo Growers by 10.2% in the third quarter. BlackRock Fund Advisors now owns 1,045,403 shares of the company’s stock valued at $68,401,000 after buying an additional 96,943 shares during the last quarter. Vanguard Group Inc. increased its stake in Calavo Growers by 3.9% in the second quarter. Vanguard Group Inc. now owns 731,493 shares of the company’s stock valued at $49,010,000 after buying an additional 27,146 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Calavo Growers by 3.7% in the second quarter. Dimensional Fund Advisors LP now owns 598,152 shares of the company’s stock valued at $40,076,000 after buying an additional 21,494 shares during the last quarter. Ranger Investment Management L.P. increased its stake in Calavo Growers by 22.2% in the second quarter. Ranger Investment Management L.P. now owns 508,582 shares of the company’s stock valued at $34,075,000 after buying an additional 92,542 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D increased its stake in Calavo Growers by 13.2% in the third quarter. State of New Jersey Common Pension Fund D now owns 430,000 shares of the company’s stock valued at $28,135,000 after buying an additional 50,000 shares during the last quarter. 64.11% of the stock is owned by institutional investors.

The company also recently declared an annual dividend, which was paid on Thursday, December 8th. Shareholders of record on Thursday, November 17th were given a dividend of $0.90 per share. The ex-dividend date of this dividend was Tuesday, November 15th. This represents a yield of 1.36%. This is an increase from Calavo Growers’s previous annual dividend of $0.80. Calavo Growers’s dividend payout ratio is 41.10%.

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