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Calavo Growers Inc.
Type
Public
Traded as NASDAQ: CVGW
S&P 600 Component
Industry Agricultural Food Products
Founded 1924
Founders Founded as a grower co-op
Headquarters 1141 Cummings Rd, Santa Paula, CA 93060, United States
Key people
Lecil E. Cole (CEO and Chairman of the Board)
Revenue $ 949 million (As of July 2015)
Number of employees
1,848 (As of 2014)
Website www.calavo.com

Calavo Growers, Inc. (NASDAQ: CVGW) is an international consumer goods and farm products company. The company packages, and distributes avocados and other fruits, as well as their fresh prepared food to restaurants, stores, and individual customers worldwide. While the company is based in Santa Paula, California, avocado production is cultivated throughout the state of California, as well as Central and South America. Calavo Growers was established in 1924 as an agricultural cooperative and was instrumental in launching the California avocado industry. The company operates its business through three divisions including Fresh Products, Calavo Foods and Renaissance Food Group (RFG). The company has been listed on the America's Best Small Company list by Forbes. The company was assessed as a great value stock to pick by Zacks Investment Research.

Calavo Growers, Inc. was founded on January 21, 1924, as the California Avocado Growers' Exchange. Due to overwhelming interest in the avocado, many California growers had planted avocado seeds that had originated in Mexico. Although slow to mature, by 1923 those avocado trees were producing a large enough crop to be marketed. The problem was the lack of a marketing outlet. The founders studied grower cooperatives that were doing well at the time such as the California Fruit Growers Exchange and adopted features that would work best for the avocado industry. In the first year, the California Avocado Growers Exchange packed the 18,000 lbs. of fruit that launched the California avocado industry. Shortly after, the growers exchange adopted the name Calavo as a brand. This was the result of a naming contest in which multiple entries were submitted combining the words "California" and "avocado". Calavo quickly became the brand name of high quality avocados. In the early 1930s, the cooperative increased its offerings to include limes, coconuts, kiwis, mangos and persimmons. Papayas were added in the late 1940s.

The California Avocado Advisory board was created in 1961, Calavo played a key role in its creation and development. The purpose was to market the California avocado industry as a whole and not just the avocado growers in the cooperative. Today it is known as the California Avocado Commission.

After 78 years as a growers cooperative, Calavo members voted to take the company public. In 2002, Calavo Growers Inc. was designated the ticker symbol CVGW on the NASDAQ National Market System. The seats on the company's board of directors were filled mainly with longtime avocado growers, and that remains so today.

Calavo Growers markets fresh avocados grown in California, Mexico, and Chile. Additionally, it distribute other fruit products such as tomatoes, pineapples and Hawaiian produced papayas. Operations in Mexico, pack and ship fresh avocados from their 50,000 sq. ft. packinghouse while a second 90,000 sq.ft. facility prepares and packages fresh avocado products such as guacamole. Their products are distributed throughout the U.S. to retailers and foodservice operations nationwide, as well as Canada, Europe and Asia.

News

Calavo Growers, Inc. -0.15% (consumer defensive)

Q reports

Period Date Adjusted Actuals EPS GAAP EPS
Q4 2020 2020-12-17 Future report Set alerts
Q3 2020 2020-09-08 0.73 -0.89
Q2 2020 2020-06-08 0.40 -0.19
Q1 2020 2020-03-10 0.07 -0.05
Q4 2019 2019-12-19 0.45 0.30
Q3 2019 2019-09-05 0.91 0.60
Q2 2019 2019-06-06 0.92 0.93
Q1 2019 2019-03-07 0.74 0.26
Q4 2018 2018-12-20 -0.08 -0.08
Q3 2018 2018-09-05 0.70 0.70

Ratings

2016-06-22 Initiated Coverage Wunderlich Buy $75.00
2016-06-06 Reiterated Rating Lake Street Capital Buy
2016-06-05 Reiterated Rating DA Davidson Neutral $56.00
2016-03-02 Downgrade DA Davidson Buy to Neutral $58.00 to $56.00
2016-03-02 Reiterated Rating Stephens Buy
2016-01-15 Boost Price Target Buckingham Research Buy $53.00 to $58.00
2016-01-07 Upgrade DA Davidson Neutral to Buy $53.00 to $58.00
2015-12-30 Boost Price Target BB&T Corp. Buy $60.00
2015-12-30 Lower Price Target Lake Street Capital Buy $62.00 to $59.00
2015-10-19 Initiated Coverage Buckingham Research Buy $53.00
2015-09-04 Upgrade BB&T Corp. Hold to Buy $58.00 to $58.00
2015-09-04 Reiterated Rating DA Davidson Neutral $53.00
2015-08-24 Boost Price Target Stephens Overweight $60.00 to $65.00
2015-06-26 Initiated Coverage DA Davidson Neutral $55.00
2015-06-05 Boost Price Target Stephens Overweight $55.00 to $60.00
2015-04-21 Initiated Coverage Janney Montgomery Scott Buy $55.00
2015-03-09 Upgrade Stephens Equal Weight to Overweight $40.00 to $55.00
2014-09-10 Boost Price Target Wedbush $39.00 to $42.00
2014-08-15 Downgrade Wedbush Outperform to Neutral $39.00
2014-07-23 Initiated Coverage Lake Street Capital Buy
2014-06-03 Boost Price Target Wedbush Outperform $38.00 to $39.00
2013-12-31 Boost Price Target Wedbush $33.00 to $35.00
2012-05-14 Downgrade BB&T Capital Mkts Buy to Hold
2011-03-31 Downgrade BB&T Capital Mkts Buy to Hold
2016-06-22 Initiated Coverage Wunderlich Buy $75.00
2016-06-06 Reiterated Rating Lake Street Capital Buy
2016-06-05 Reiterated Rating DA Davidson Neutral $56.00
2016-03-02 Downgrade DA Davidson Buy to Neutral $58.00 to $56.00
2016-03-02 Reiterated Rating Stephens Buy

There is presents forecasts of rating agencies and recommendations for investors about this ticker

Major Shareholders

Name Relationship Total Shares Holding stocks
COLE LECIL E Chairman, CEO & President 3.83%  (604208) CVGW / LMNR /
Catchot Kenneth J President & COO 2.82%  (444295) CVGW /
LEAVENS J LINK 0.59%  (92528) CVGW /
SNIDER ALVA V 0.58%  (91000) CVGW /
MCFARLANE DORCAS H 0.47%  (73877) CVGW /
Gibson James E President of Subsidiary Corp 0.39%  (61624) CVGW /
HUNT JOHN M 0.26%  (41500) CVGW /
BRUNO ARTHUR J Chief Financial Officer 0.19%  (30451) CVGW /
Carbone Egidio 0.16%  (25054) CVGW /
Hollister Steve 0.15%  (24400) CVGW /
AHMER ALAN C VP - Proc. Prod. Sales & Prod. 0.13%  (21278) CVGW /
HELIN JAMES D 0.13%  (20750) CVGW /
WEDIN ROBERT J VP - Sales & Fresh Marketing 0.12%  (18617) CVGW /
SANDERS DONALD M 0.11%  (17137) CVGW /
Lindeman Bruce John Chief Financial Officer 0.09%  (14181) CVGW /
Browne Michael A VP- Fresh Operations 0.08%  (13117) CVGW /
Brown Marc Laurence 0.08%  (12350) CVGW /
Snyder James E Controller 0.07%  (11778) CVGW /
DiGregorio Michael Anthony 0.06%  (9750) CVGW / VIRC /
BARNES GEORGE H 0.05%  (8650) CVGW /
Araiza Ronald Anthony VP Oper & Sales, Foods Div. 0.05%  (7701) CVGW /
Edwards Harold S 0.03%  (4988) CODI / CVGW / LMNR / SNAK /
HOLMGREN KATHLEEN M 0.03%  (4500) CVGW / EXTR /
VAN DER KAR SCOTT 0.01%  (1750) CVGW /

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