Mission Produce (NASDAQ:AVO) Announces Quarterly Earnings Results

Mission Produce (NASDAQ:AVO) released its earnings results on Thursday. The company reported $0.12 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.09, Briefing.com reports. Mission Produce had a net margin of 2.97% and a return on equity of 8.48%. The business had revenue of $380.30 million for the quarter, compared to the consensus estimate of $296.15 million. During the same period in the previous year, the firm earned $0.14 EPS. The business’s revenue for the quarter was up 27.8% on a year-over-year basis.

Mission Produce Price Performance

NASDAQ AVO opened at $11.02 on Friday. The stock has a market capitalization of $783.21 million, a P/E ratio of 21.61 and a beta of 0.56. Mission Produce has a 1 year low of $9.54 and a 1 year high of $15.25. The business’s fifty day moving average is $10.41 and its two-hundred day moving average is $11.61. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.26 and a current ratio of 1.87.

Insider Buying and Selling at Mission Produce

In other news, insider Juan R. Wiesner sold 75,153 shares of the business’s stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $10.08, for a total transaction of $757,542.24. Following the sale, the insider now directly owns 1,000,000 shares of the company’s stock, valued at $10,080,000. The trade was a 6.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 35.41% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Mission Produce

Institutional investors and hedge funds have recently modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Mission Produce by 4.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 25,825 shares of the company’s stock worth $271,000 after buying an additional 1,092 shares during the period. Acadian Asset Management LLC acquired a new stake in Mission Produce during the 1st quarter worth about $581,000. Jane Street Group LLC raised its holdings in Mission Produce by 179.7% during the 1st quarter. Jane Street Group LLC now owns 65,813 shares of the company’s stock worth $690,000 after buying an additional 42,284 shares during the period. AQR Capital Management LLC raised its holdings in shares of Mission Produce by 228.4% during the first quarter. AQR Capital Management LLC now owns 95,816 shares of the company’s stock valued at $1,004,000 after acquiring an additional 66,640 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Mission Produce by 10.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 163,304 shares of the company’s stock valued at $1,711,000 after acquiring an additional 15,076 shares during the period. 63.57% of the stock is owned by institutional investors and hedge funds.

About Mission Produce

Mission Produce, Inc engages in the sourcing, farming, packaging, marketing, and distribution of avocados, mangoes, and blueberries to food retailers, distributors, and foodservice customers in the United States and internationally. The company operates through three segments, Marketing and Distribution; International Farming; and Blueberries.