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In a recent transaction, Lecil E. Cole, the Chief Executive Officer of Calavo Growers Inc. (NASDAQ:CVGW), purchased a significant amount of the company’s common stock. According to the SEC Form 4 filing, Cole acquired 38,155 shares on April 14, 2025, at a weighted average price of $24.60 per share. The total value of this transaction amounted to approximately $938,613. The purchase comes as the $445.2 million market cap company maintains a solid 3.24% dividend yield, having consistently paid dividends for 24 consecutive years.
The shares were bought in multiple transactions, with prices ranging from $23.80 to $24.75. Following this acquisition, Cole now directly owns 574,225 shares of Calavo Growers. According to InvestingPro analysis, the company is currently trading below its Fair Value, with analysts expecting net income growth this year. This move by the CEO could indicate a strong belief in the company’s future prospects. For more detailed insights and additional ProTips, check out InvestingPro.
In other recent news, Calavo Growers reported first-quarter earnings that exceeded analyst expectations, with adjusted earnings per share reaching $0.33, surpassing the projected $0.30. However, the company’s revenue of $154.4 million fell short of the anticipated $159.85 million, despite a 21% year-over-year increase. The Fresh segment, which includes avocados and tomatoes, contributed significantly to this performance, with sales climbing 23.7% to $139.9 million, driven by a 30.5% increase in average price per carton. Gross profit for the quarter rose 46.2% to $15.7 million, aided by an 88.8% increase in the Fresh segment’s gross profit. Additionally, the company’s cost-cutting measures led to a 23.6% reduction in selling, general, and administrative expenses. Calavo Growers’ adjusted EBITDA nearly tripled to $9.3 million, reflecting higher margins and operational efficiencies. In another development, Calavo Growers announced a $25 million stock buyback program, approved by the Board of Directors, set to run until March 2027. This initiative underscores the company’s confidence in its long-term strategy and financial health.
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