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Calavo Growers Inc. (NASDAQ:CVGW) Chief Executive Officer Lecil E. Cole recently acquired a significant number of shares in the company. According to a recent SEC filing, Cole purchased 21,070 shares of Calavo Growers common stock on April 11, 2025. The shares were bought at a weighted average price of $23.73, resulting in a total transaction value of approximately $499,991. The timing of this purchase appears strategic, as InvestingPro analysis indicates the stock is currently trading below its Fair Value, with analyst price targets ranging from $29 to $35.
The shares were acquired in multiple transactions at prices ranging from $23.19 to $23.80. Following this purchase, Cole’s direct ownership in the company increased to 536,070 shares. This transaction highlights Cole’s continued investment and confidence in the future of Calavo Growers, a company known for its role in the agriculture services sector. The company maintains a strong financial health score and has consistently paid dividends for 24 consecutive years, with current metrics showing a healthy balance sheet with more cash than debt.
In other recent news, Calavo Growers reported first-quarter earnings that exceeded analyst expectations, posting adjusted earnings per share of $0.33 compared to the projected $0.30. However, the company’s revenue of $154.4 million fell short of the anticipated $159.85 million. The Fresh segment, including avocados and tomatoes, experienced a 23.7% sales increase, driven by a 30.5% rise in the average price per carton, despite a 4.6% decline in volume. Gross profit for the quarter rose significantly by 46.2% to $15.7 million, with the Fresh segment contributing an 88.8% increase to $12.1 million. Calavo Growers also benefited from a 23.6% reduction in selling, general, and administrative expenses, enhancing its profitability. Additionally, the company announced a $25 million stock buyback program, reflecting confidence in its long-term strategy and financial health. The buyback is set to run until March 18, 2027, unless altered by the Board. Calavo Growers maintained a solid financial position with $48.5 million in cash and cash equivalents and $96.7 million in available liquidity at the quarter’s end.
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