Connors Investor Services Inc. Sells 4,386 Shares of Calavo Growers, Inc. (NASDAQ:CVGW)

Connors Investor Services Inc. cut its stake in Calavo Growers, Inc. (NASDAQ:CVGW) by 4.1% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 102,504 shares of the company’s stock after selling 4,386 shares during the quarter. Connors Investor Services Inc. owned about 0.58% of Calavo Growers worth $2,327,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Summit Securities Group LLC purchased a new stake in shares of Calavo Growers in the 2nd quarter worth about $56,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Calavo Growers by 40.3% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,831 shares of the company’s stock worth $87,000 after buying an additional 1,100 shares during the last quarter. Garner Asset Management Corp bought a new position in Calavo Growers during the 4th quarter valued at approximately $90,000. EntryPoint Capital LLC raised its stake in Calavo Growers by 318.4% during 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 during the last quarter. Finally, Illinois Municipal Retirement Fund boosted its holdings in Calavo Growers by 13.8% in the first quarter. Illinois Municipal Retirement Fund now owns 9,841 shares of the company’s stock worth $274,000 after acquiring an additional 1,192 shares in the last quarter. 81.30% of the stock is owned by hedge funds and other institutional investors.

Calavo Growers Stock Performance

CVGW stock opened at $29.51 on Tuesday. Calavo Growers, Inc. has a 12-month low of $20.30 and a 12-month high of $31.26. The stock has a market capitalization of $525.28 million, a PE ratio of -327.89 and a beta of 0.56. The company has a current ratio of 2.04, a quick ratio of 1.66 and a debt-to-equity ratio of 0.18. The stock’s 50 day simple moving average is $23.78 and its 200 day simple moving average is $25.53.

Calavo Growers Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 30th. Investors of record on Wednesday, October 2nd will be issued a $0.20 dividend. This is a boost from Calavo Growers’s previous quarterly dividend of $0.10. This represents a $0.80 dividend on an annualized basis and a yield of 2.71%. The ex-dividend date is Wednesday, October 2nd. Calavo Growers’s dividend payout ratio (DPR) is currently -444.44%.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded shares of Calavo Growers from a “sell” rating to a “hold” rating in a research note on Saturday, August 3rd.

About Calavo Growers

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.