Calavo Growers said on June 6, 2023 that its board of directors declared a regular quarterly dividend of $0.10 per share ($0.40 annualized). Previously, the company paid $0.10 per share.
Shares must be purchased before the ex-div date of June 26, 2023 to qualify for the dividend. Shareholders of record as of June 27, 2023 will receive the payment on July 11, 2023.
At the current share price of $32.27 / share, the stock's dividend yield is 1.24%.
Looking back five years and taking a sample every week, the average dividend yield has been 1.90%, the lowest has been 0.89%, and the highest has been 4.94%. The standard deviation of yields is 0.86 (n=237).
The current dividend yield is 0.77 standard deviations below the historical average.
Additionally, the company's dividend payout ratio is -1.35. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is -0.64%.
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What is the Fund Sentiment?
There are 386 funds or institutions reporting positions in Calavo Growers. This is a decrease of 13 owner(s) or 3.26% in the last quarter. Average portfolio weight of all funds dedicated to CVGW is 0.09%, an increase of 17.27%. Total shares owned by institutions increased in the last three months by 3.81% to 17,637K shares. 
The put/call ratio of CVGW is 1.01, indicating a bearish outlook.
Analyst Price Forecast Suggests 13.79% Upside
As of June 2, 2023, the average one-year price target for Calavo Growers is 36.72. The forecasts range from a low of 35.35 to a high of $39.90. The average price target represents an increase of 13.79% from its latest reported closing price of 32.27.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Calavo Growers is 1,306MM, an increase of 14.24%. The projected annual non-GAAP EPS is 1.90.
What are Other Shareholders Doing?
Nuance Investments holds 1,893K shares representing 10.67% ownership of the company. In it's prior filing, the firm reported owning 1,281K shares, representing an increase of 32.32%. The firm increased its portfolio allocation in CVGW by 146,149.39% over the last quarter.
IJR - iShares Core S&P Small-Cap ETF holds 1,284K shares representing 7.24% ownership of the company. In it's prior filing, the firm reported owning 1,327K shares, representing a decrease of 3.29%. The firm decreased its portfolio allocation in CVGW by 7.95% over the last quarter.
NMVLX - Nuance Mid Cap Value Fund Institutional Class holds 770K shares representing 4.34% ownership of the company. In it's prior filing, the firm reported owning 735K shares, representing an increase of 4.60%. The firm decreased its portfolio allocation in CVGW by 2.49% over the last quarter.
Clearbridge Investments holds 638K shares representing 3.60% ownership of the company. In it's prior filing, the firm reported owning 632K shares, representing an increase of 0.99%. The firm decreased its portfolio allocation in CVGW by 4.38% over the last quarter.
SASMX - ClearBridge Small Cap Growth Fund holds 515K shares representing 2.90% ownership of the company. No change in the last quarter.
Calavo Growers Background Information
(This description is provided by the company.)
Calavo Growers, Inc. is a global avocado-industry leader and provider of value-added fresh food serving retail grocery, foodservice, club stores, mass merchandisers, food distributors and wholesalers worldwide. The Company's Fresh segment procures and markets fresh avocados and select other fresh produce, including tomatoes and papayas. The Renaissance Food Group (RFG) segment creates, markets and distributes a portfolio of healthy, fresh foods, including fresh-cut fruit, fresh-cut vegetables and prepared foods. The Foods segment manufactures and distributes guacamole and salsa. Founded in 1924, Calavo's fresh food products are sold under the respected Calavo brand name as well as Garden Highway, Chef Essentials and a variety of private label and store brands.
Key filings for this company:
This story originally appeared on Fintel.
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