Otter Creek Advisors buys $13,483,215 stake in Calavo Growers (CVGW)

Calavo Growers (CVGW) : Otter Creek Advisors scooped up 42,826 additional shares in Calavo Growers during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 15, 2016. The investment management firm now holds a total of 218,175 shares of Calavo Growers which is valued at $13,483,215.Calavo Growers makes up approximately 5.29% of Otter Creek Advisors’s portfolio.

Other Hedge Funds, Including , Guggenheim Capital reduced its stake in CVGW by selling 1,252 shares or 4.91% in the most recent quarter. The Hedge Fund company now holds 24,231 shares of CVGW which is valued at $1,497,476. Renaissance Technologies added CVGW to its portfolio by purchasing 42,100 company shares during the most recent quarter which is valued at $2,601,780.Ridgeworth Capital Management reduced its stake in CVGW by selling 4,956 shares or 7.24% in the most recent quarter. The Hedge Fund company now holds 63,544 shares of CVGW which is valued at $4,165,309. Calavo Growers makes up approx 0.04% of Ridgeworth Capital Management’s portfolio.

Calavo Growers closed down -0.17 points or -0.29% at $58.78 with 1,68,738 shares getting traded on Thursday. Post opening the session at $58.95, the shares hit an intraday low of $57.38 and an intraday high of $59.38 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

On the company’s financial health, Calavo Growers reported $0.56 EPS for the quarter, beating the analyst consensus estimate by $ 0.07 according to the earnings call on Jun 6, 2016. Analyst had a consensus of $0.49. The company had revenue of $220.30 million for the quarter, compared to analysts expectations of $242.33 million. The company’s revenue was down -.6 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.49 EPS.

Many Wall Street Analysts have commented on Calavo Growers. Wunderlich Initiated Calavo Growers on Jun 22, 2016 to “Buy”, Price Target of the shares are set at $75.

Calavo Growers Inc. (Calavo) is a provider of fresh food. The Company is engaged in the marketing and distribution of avocados prepared avocados and other perishable foods. It also delivers an array of fresh and prepared food products to food distributors produce wholesalers supermarkets convenience stores and restaurants. The Company sorts packs and/or ripens avocados tomatoes and/or Hawaiian grown papayas. The Company operates in three business segments: Fresh products Calavo Foods and Renaissance Food Group LLC (RFG). Its Fresh products segment is engaged in the distribution of avocados and other fresh produce products. Its Calavo Foods is engaged in the purchase manufacturing and distribution of prepared products including guacamole tortilla chips and salsa. The RFG segment is engaged in the manufacturing and distribution of fresh-cut fruit ready-to-eat vegetables recipe-ready vegetables and deli meat products.

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