Mission Produce (NASDAQ:AVO) Director Luis Gonzalez Purchases 29,996 Shares of Stock

Mission Produce, Inc. (NASDAQ:AVO) Director Luis Gonzalez bought 29,996 shares of the business’s stock in a transaction that occurred on Friday, October 9th. The shares were acquired at an average price of $11.59 per share, for a total transaction of $347,653.64. Following the transaction, the director owned 7,004,139 shares in the company, valued at $81,177,971.01. This represents a 0.43% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website.

Mission Produce Stock Up 2.2%

Shares of Mission Produce stock traded up $0.25 during trading on Tuesday, reaching $11.81. 835,594 shares of the company traded hands, compared to its average volume of 1,033,076. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.92 and a quick ratio of 1.24. The firm has a market capitalization of $1.04 billion, a PE ratio of 393.80 and a beta of 0.43. The company has a 50 day moving average price of $12.79 and a 200-day moving average price of $12.77. Mission Produce, Inc. has a 1-year low of $10.07 and a 1-year high of $15.53.

Mission Produce (NASDAQ:AVO) last announced its quarterly earnings results on Tuesday, September 8th. The company reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.06. The business had revenue of $450.00 million for the quarter, compared to analyst estimates of $367.57 million. Mission Produce had a return on equity of 5.91% and a net margin of 0.12%. The company’s quarterly revenue was up 25.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.26 earnings per share. As a group, equities research analysts expect that Mission Produce, Inc. will post 0.61 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. BlackRock Inc. lifted its position in shares of Mission Produce by 36.9% during the second quarter. BlackRock Inc. now owns 4,775,250 shares of the company’s stock worth $56,300,000 after acquiring an additional 1,286,263 shares in the last quarter. Fourth Sail Capital LP grew its position in shares of Mission Produce by 258.5% in the second quarter. Fourth Sail Capital LP now owns 3,976,272 shares of the company’s stock valued at $46,880,000 after purchasing an additional 2,867,072 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Mission Produce by 12.4% in the first quarter. Dimensional Fund Advisors LP now owns 3,024,310 shares of the company’s stock valued at $41,614,000 after purchasing an additional 334,629 shares in the last quarter. Rubric Capital Management LP bought a new stake in shares of Mission Produce during the 1st quarter valued at $23,756,000. Finally, State Street Corp raised its stake in shares of Mission Produce by 41.3% during the 2nd quarter. State Street Corp now owns 1,423,029 shares of the company’s stock valued at $16,778,000 after purchasing an additional 416,126 shares during the period. 63.57% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on AVO shares. Wall Street Zen upgraded Mission Produce from a “sell” rating to a “hold” rating in a research note on Saturday, September 12th. Stephens reissued an “overweight” rating and issued a $15.00 price target on shares of Mission Produce in a report on Friday. Roth Capital restated a “buy” rating and set a $17.00 price target on shares of Mission Produce in a research report on Thursday, September 10th. Finally, Weiss Ratings upgraded shares of Mission Produce from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, Mission Produce presently has an average rating of “Moderate Buy” and an average price target of $16.00.

Mission Produce Company Profile

Mission Produce, Inc is a global avocado sourcing, distribution and marketing company headquartered in Oxnard, California. The company supplies fresh avocados to retailers, foodservice operators, wholesalers and other customers, managing activities that include procurement, quality control, ripening, packaging and distribution.

Mission Produce sources avocados from growing regions in North and South America and other international markets. Its operations are supported by ripening and distribution facilities designed to provide customers with avocados at different stages of readiness.