Mission Produce (NASDAQ:AVO) Director Luis Gonzalez Acquires 22,026 Shares of Stock

Mission Produce, Inc. (NASDAQ:AVO) Director Luis Gonzalez bought 22,026 shares of the stock in a transaction on Monday, October 12th. The shares were acquired at an average cost of $11.22 per share, for a total transaction of $247,131.72. Following the acquisition, the director directly owned 7,026,165 shares in the company, valued at approximately $78,833,571.30. This trade represents a 0.31% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Mission Produce Stock Performance

Shares of AVO opened at $11.81 on Wednesday. The stock’s 50-day simple moving average is $12.78 and its 200 day simple moving average is $12.76. Mission Produce, Inc. has a 52-week low of $10.07 and a 52-week high of $15.53. The stock has a market capitalization of $1.04 billion, a price-to-earnings ratio of 393.80 and a beta of 0.43. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.24 and a current ratio of 1.92.

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 analysts’ consensus estimates of $0.12 by $0.06. Mission Produce had a net margin of 0.12% and a return on equity of 5.91%. The firm had revenue of $450.00 million for the quarter, compared to the consensus estimate of $367.57 million. During the same period in the prior year, the firm posted $0.26 earnings per share. The company’s revenue for the quarter was up 25.8% on a year-over-year basis. Research analysts forecast that Mission Produce, Inc. will post 0.61 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Fourth Sail Capital LP boosted its stake in 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 acquiring an additional 2,867,072 shares in the last quarter. Rubric Capital Management LP purchased a new stake in Mission Produce during the 1st quarter valued at $23,756,000. BlackRock Inc. increased its holdings in Mission Produce by 36.9% in the 2nd quarter. BlackRock Inc. now owns 4,775,250 shares of the company’s stock worth $56,300,000 after buying an additional 1,286,263 shares in the last quarter. State Street Corp grew its stake in shares of Mission Produce by 41.3% in the second quarter. State Street Corp now owns 1,423,029 shares of the company’s stock worth $16,778,000 after acquiring an additional 416,126 shares during the period. Finally, Bank of America Corp DE grew its position in Mission Produce by 809.2% in the 1st quarter. Bank of America Corp DE now owns 444,135 shares of the company’s stock worth $6,111,000 after purchasing an additional 395,287 shares during the period. Hedge funds and other institutional investors own 63.57% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on AVO shares. Stephens reissued an “overweight” rating and issued a $15.00 price target on shares of Mission Produce in a research note on Friday, October 9th. Wall Street Zen upgraded Mission Produce from a “sell” rating to a “hold” rating in a research report on Saturday, September 12th. 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. Finally, Roth Capital restated a “buy” rating and set a $17.00 target price on shares of Mission Produce in a report on Thursday, September 10th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $16.00.

About Mission Produce

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.