Key Points
- Mission Produce director Luis Gonzalez bought 22,026 shares for approximately $247,132 at an average price of $11.22, increasing his direct holdings by 0.31% to more than 7 million shares.
- The company exceeded quarterly expectations, reporting $0.18 in EPS versus a $0.12 consensus and $450 million in revenue, up 25.8% year over year.
- Analysts maintain a consensus “Moderate Buy” rating with an average price target of $16, while institutional investors own 63.57% of the stock.
Mission Produce, Inc. (NASDAQ:AVO - Get Free Report) Director Luis Gonzalez bought 22,026 shares of the stock in a transaction that occurred on Monday, October 12th. The shares were bought at an average price of $11.22 per share, for a total transaction of $247,131.72. Following the completion of the transaction, the director directly owned 7,026,165 shares of the company's stock, valued at $78,833,571.30. This represents a 0.31% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink.
Mission Produce Stock Performance
NASDAQ:AVO opened at $11.81 on Wednesday. The stock has a 50-day simple moving average of $12.78 and a two-hundred day simple moving average of $12.76. Mission Produce, Inc. has a 52-week low of $10.07 and a 52-week high of $15.53. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.24 and a current ratio of 1.92. The firm has a market capitalization of $1.04 billion, a PE ratio of 393.80 and a beta of 0.43.
Mission Produce (NASDAQ:AVO - Get Free Report) last issued its quarterly earnings results on Tuesday, September 8th. The company reported $0.18 EPS for the quarter, topping analysts' consensus estimates of $0.12 by $0.06. Mission Produce had a return on equity of 5.91% and a net margin of 0.12%. The business had revenue of $450.00 million during the quarter, compared to analysts' expectations of $367.57 million. During the same quarter in the prior year, the business posted $0.26 earnings per share. The business's quarterly revenue was up 25.8% on a year-over-year basis. Analysts forecast that Mission Produce, Inc. will post 0.61 EPS for the current year.
Wall Street Analyst Weigh In
Several brokerages have weighed in on AVO. Roth Capital reaffirmed a "buy" rating and set a $17.00 price target on shares of Mission Produce in a report on Thursday, September 10th. Stephens reissued an "overweight" rating and issued a $15.00 price objective on shares of Mission Produce in a research note on Friday, October 9th. Wall Street Zen raised shares of Mission Produce from a "sell" rating to a "hold" rating in a research note on Saturday, September 12th. Finally, Weiss Ratings upgraded shares of Mission Produce from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Thursday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $16.00.
View Our Latest Report on Mission Produce
Hedge Funds Weigh In On Mission Produce
Several large investors have recently made changes to their positions in the business. BlackRock Inc. boosted its stake in shares of Mission Produce by 36.9% in 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 during the period. Fourth Sail Capital LP grew its position in shares of Mission Produce by 258.5% during the second quarter. Fourth Sail Capital LP now owns 3,976,272 shares of the company's stock worth $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% during the first quarter. Dimensional Fund Advisors LP now owns 3,024,310 shares of the company's stock worth $41,614,000 after purchasing an additional 334,629 shares in the last quarter. Rubric Capital Management LP bought a new stake in Mission Produce during the 1st quarter valued at approximately $23,756,000. Finally, State Street Corp raised its stake in 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.
Mission Produce Company Profile
(
Get Free Report)
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.
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