Fintel reports that Nuance Investments has filed a 13G/A form with the SEC disclosing ownership of 1.28MM shares of Calavo Growers, Inc. (CVGW). This represents 7.22% of the company.
In their previous filing dated February 10, 2022 they reported 1.11MM shares and 6.29% of the company, an increase in shares of 15.16% and an increase in total ownership of 0.93% (calculated as current - previous percent ownership).
Analyst Price Forecast Suggests 34.09% Upside
As of February 5, 2023, the average one-year price target for Calavo Growers is $43.10. The forecasts range from a low of $39.39 to a high of $52.50. The average price target represents an increase of 34.09% from its latest reported closing price of $32.14.
The projected annual revenue for Calavo Growers is $1,306MM, an increase of 9.65%. The projected annual EPS is $1.90.
Fund Sentiment
There are 390 funds or institutions reporting positions in Calavo Growers. This is a decrease of 6 owner(s) or 1.52%.
Average portfolio weight of all funds dedicated to US:CVGW is 0.0927%, a decrease of 13.3185%. Total shares owned by institutions decreased in the last three months by 0.38% to 16,444K shares.
What are large shareholders doing?
IJR - iShares Core S&P Small-Cap ETF holds 1,298,086 shares representing 7.32% ownership of the company. In it's prior filing, the firm reported owning 1,245,111 shares, representing an increase of 4.08%. The firm decreased its portfolio allocation in CVGW by 19.47% over the last quarter.
NMVLX - Nuance Mid Cap Value Fund Institutional Class holds 735,059 shares representing 4.15% ownership of the company. No change in the last quarter.
Clearbridge Investments holds 623,168 shares representing 3.51% ownership of the company. In it's prior filing, the firm reported owning 620,507 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 514,599 shares representing 2.90% ownership of the company. In it's prior filing, the firm reported owning 523,298 shares, representing a decrease of 1.69%. The firm decreased its portfolio allocation in CVGW by 8.63% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 496,687 shares representing 2.80% ownership of the company. In it's prior filing, the firm reported owning 496,532 shares, representing an increase of 0.03%. The firm decreased its portfolio allocation in CVGW by 20.65% over the last quarter.
Calavo Growers Declares $1.15 Dividend
Calavo Growers said on October 29, 2021 that its board of directors 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 $32.14 / share, the stock's dividend yield is 3.58%. 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 2.10 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.
