Calavo Growers, Inc. (NASDAQ:CVGW) Declares Quarterly Dividend of $0.20

Calavo Growers, Inc. (NASDAQ:CVGW) declared a quarterly dividend on Friday, March 7th, Wall Street Journal reports. Shareholders of record on Tuesday, April 1st will be given a dividend of 0.20 per share on Tuesday, April 29th. This represents a $0.80 annualized dividend and a yield of 3.30%. The ex-dividend date of this dividend is Tuesday, April 1st.

Calavo Growers has decreased its dividend by an average of 19.5% per year over the last three years. Calavo Growers has a payout ratio of 36.7% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Calavo Growers to earn $2.32 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 34.5%.

Calavo Growers Stock Performance

Calavo Growers stock opened at $24.22 on Friday. The company’s 50-day moving average price is $23.39 and its 200-day moving average price is $25.74. The company has a quick ratio of 1.70, a current ratio of 2.17 and a debt-to-equity ratio of 0.02. The company has a market cap of $432.01 million, a PE ratio of -403.67 and a beta of 0.57. Calavo Growers has a twelve month low of $20.30 and a twelve month high of $30.58.

Calavo Growers (NASDAQ:CVGW) last issued its quarterly earnings data on Tuesday, January 14th. The company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.25). The company had revenue of $169.96 million for the quarter, compared to the consensus estimate of $161.99 million. Calavo Growers had a positive return on equity of 9.66% and a negative net margin of 0.16%. The company’s revenue was up 19.5% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.33) earnings per share. On average, equities research analysts forecast that Calavo Growers will post 1.87 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on CVGW shares. StockNews.com downgraded Calavo Growers from a “buy” rating to a “hold” rating in a research report on Friday, March 21st. Lake Street Capital reduced their target price on shares of Calavo Growers from $40.00 to $35.00 and set a “buy” rating on the stock in a research note on Wednesday, January 15th.

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.