CVGW

Vanguard Group Increases Position in Calavo Growers (CVGW)

Fintel reports that Vanguard Group has filed a 13G/A form with the SEC disclosing ownership of 1.46MM shares of Calavo Growers, Inc. (CVGW). This represents 8.22% of the company.

In their previous filing dated February 9, 2022 they reported 1.28MM shares and 7.27% of the company, an increase in shares of 13.46% and an increase in total ownership of 0.95% (calculated as current - previous percent ownership).

Analyst Price Forecast Suggests 31.22% Upside

As of February 9, 2023, the average one-year price target for Calavo Growers is $41.82. The forecasts range from a low of $35.35 to a high of $52.50. The average price target represents an increase of 31.22% from its latest reported closing price of $31.87.

The projected annual revenue for Calavo Growers is $1,306MM, an increase of 9.65%. The projected annual EPS is $1.90.

What is the Fund Sentiment?

There are 389 funds or institutions reporting positions in Calavo Growers. This is a decrease of 7 owner(s) or 1.77% in the last quarter. Average portfolio weight of all funds dedicated to CVGW is 0.09%, a decrease of 12.90%. Total shares owned by institutions increased in the last three months by 0.16% to 16,534K shares. The put/call ratio of CVGW is 0.15, indicating a bullish outlook.

What are large shareholders doing?

CVGW / Calavo Growers, Inc. Ownership

IJR - iShares Core S&P Small-Cap ETF holds 1,298K shares representing 7.32% ownership of the company. In it's prior filing, the firm reported owning 1,245K shares, representing an increase of 4.08%. The firm decreased its portfolio allocation in CVGW by 19.47% over the last quarter.

Nuance Investments holds 1,281K shares representing 7.22% ownership of the company. In it's prior filing, the firm reported owning 1,194K shares, representing an increase of 6.79%. The firm decreased its portfolio allocation in CVGW by 6.50% over the last quarter.

NMVLX - Nuance Mid Cap Value Fund Institutional Class holds 735K shares representing 4.15% ownership of the company. No change in the last quarter.

Clearbridge Investments holds 623K shares representing 3.51% ownership of the company. In it's prior filing, the firm reported owning 621K shares, representing an increase of 0.43%. The firm decreased its portfolio allocation in CVGW by 17.31% over the last quarter.

SASMX - ClearBridge Small Cap Growth Fund holds 515K shares representing 2.90% ownership of the company. In it's prior filing, the firm reported owning 523K shares, representing a decrease of 1.69%. The firm decreased its portfolio allocation in CVGW by 8.63% over the last quarter.

Calavo Growers Declares $1.15 Dividend

On October 29, 2021 the company declared a regular annual dividend of $1.15 per share. Shareholders of record as of November 10, 2021 received the payment on December 3, 2021. Previously, the company paid $1.15 per share.

At the current share price of $31.87 / share, the stock's dividend yield is 3.61%. Looking back five years and taking a sample every week, the average dividend yield has been 1.84%, the lowest has been 0.89%, and the highest has been 3.74%. The standard deviation of yields is 0.83 (n=237).

The current dividend yield is 2.14 standard deviations above the historical average.

Additionally, the company's dividend payout ratio is -3.26. 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 0.05%, demonstrating that it has increased its dividend over time.

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.

This story originally appeared on Fintel.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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