Otter Creek Advisors LLC Has $6.11 Million Stake in Calavo Growers, Inc. (CVGW)

Otter Creek Advisors LLC cut its stake in Calavo Growers, Inc. (NASDAQ:CVGW) by 47.2% in the 1st quarter, Holdings Channel reports. The firm owned 66,213 shares of the company’s stock after selling 59,185 shares during the quarter. Calavo Growers comprises 1.3% of Otter Creek Advisors LLC’s investment portfolio, making the stock its 21st largest position. Otter Creek Advisors LLC’s holdings in Calavo Growers were worth $6,105,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of CVGW. We Are One Seven LLC raised its stake in shares of Calavo Growers by 799.4% in the first quarter. We Are One Seven LLC now owns 1,430 shares of the company’s stock worth $132,000 after purchasing an additional 1,271 shares during the last quarter. SG Americas Securities LLC bought a new position in shares of Calavo Growers in the first quarter valued at approximately $142,000. Ellington Management Group LLC bought a new position in shares of Calavo Growers in the fourth quarter valued at approximately $203,000. AMP Capital Investors Ltd bought a new position in shares of Calavo Growers in the fourth quarter valued at approximately $211,000. Finally, Koch Industries Inc. bought a new position in shares of Calavo Growers in the fourth quarter valued at approximately $217,000. 86.90% of the stock is owned by hedge funds and other institutional investors.

In other Calavo Growers news, Director J Link Leavens sold 7,500 shares of the stock in a transaction on Thursday, March 29th. The stock was sold at an average price of $92.31, for a total transaction of $692,325.00. Following the completion of the transaction, the director now directly owns 92,528 shares of the company’s stock, valued at $8,541,259.68. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Robert J. Wedin sold 6,016 shares of the stock in a transaction on Friday, June 8th. The shares were sold at an average price of $83.76, for a total value of $503,900.16. Following the transaction, the vice president now directly owns 12,601 shares of the company’s stock, valued at $1,055,459.76. The disclosure for this sale can be found here. Over the last three months, insiders have sold 20,016 shares of company stock valued at $1,795,200. 8.40% of the stock is owned by corporate insiders.

Several equities analysts have recently issued reports on CVGW shares. BidaskClub raised Calavo Growers from a “buy” rating to a “strong-buy” rating in a report on Friday, February 16th. Zacks Investment Research raised Calavo Growers from a “hold” rating to a “buy” rating and set a $99.00 target price for the company in a report on Tuesday, February 27th. Buckingham Research upped their target price on Calavo Growers from $95.00 to $101.00 and gave the company a “buy” rating in a report on Tuesday, June 5th. Stephens upped their target price on Calavo Growers to $100.00 and gave the company an “overweight” rating in a report on Wednesday, March 21st. Finally, ValuEngine raised Calavo Growers from a “hold” rating to a “buy” rating in a report on Monday, April 2nd. One research analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company. Calavo Growers presently has a consensus rating of “Buy” and a consensus target price of $97.75.

Calavo Growers opened at $88.50 on Thursday, Marketbeat.com reports. The company has a market capitalization of $1.47 billion, a PE ratio of 41.55 and a beta of 0.62. Calavo Growers, Inc. has a 12-month low of $65.75 and a 12-month high of $98.85.

Calavo Growers (NASDAQ:CVGW) last announced its quarterly earnings data on Wednesday, June 6th. The company reported $0.80 earnings per share for the quarter, missing the consensus estimate of $0.81 by ($0.01). Calavo Growers had a net margin of 3.70% and a return on equity of 16.89%. The firm had revenue of $264.40 million for the quarter, compared to the consensus estimate of $301.20 million. During the same period last year, the company posted $0.74 earnings per share. Calavo Growers’s revenue for the quarter was down 2.1% on a year-over-year basis. analysts anticipate that Calavo Growers, Inc. will post 3.17 EPS for the current year.

Calavo Growers Company Profile

Calavo Growers, Inc markets and distributes avocados, prepared avocados, and other perishable foods to grocery retailers, food services, club stores, mass merchandisers, food distributors, wholesalers, supermarkets, specialty/natural retailers, and convenience stores worldwide. It operates in three segments: Fresh Products, Calavo Foods, and RFG.

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Institutional Ownership by Quarter for Calavo Growers (NASDAQ:CVGW)

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