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

Calavo Growers, Inc. (NASDAQ:CVGW) declared a quarterly dividend on Thursday, March 13th, 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 dividend on an annualized basis and a dividend yield of 3.73%. The ex-dividend date of this dividend is Tuesday, April 1st.

Calavo Growers has decreased its dividend payment by an average of 19.5% annually over the last three years. Calavo Growers has a dividend payout ratio of 37.4% indicating that its dividend is sufficiently covered by earnings. 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 Down 1.4 %

Calavo Growers stock opened at $21.47 on Friday. Calavo Growers has a 1-year low of $20.30 and a 1-year high of $30.58. The firm has a market capitalization of $382.17 million, a price-to-earnings ratio of -357.83 and a beta of 0.57. The firm’s fifty day moving average price is $23.48 and its two-hundred day moving average price is $25.74. The company has a current ratio of 2.17, a quick ratio of 1.70 and a debt-to-equity ratio of 0.02.

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

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on CVGW shares. StockNews.com raised shares of Calavo Growers from a “hold” rating to a “buy” rating in a research report on Thursday. Lake Street Capital dropped their price target on shares of Calavo Growers from $40.00 to $35.00 and set a “buy” rating on the stock in a research report 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.