Mission Produce (NASDAQ:AVO) Issues Earnings Results

Mission Produce (NASDAQ:AVO) announced its quarterly earnings data on Thursday. The company reported $0.22 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.03, FiscalAI reports. Mission Produce had a net margin of 2.73% and a return on equity of 7.89%. The business had revenue of $319.00 million for the quarter, compared to analyst estimates of $301.60 million. During the same period in the prior year, the firm posted $0.28 EPS.

Mission Produce Stock Performance

NASDAQ AVO traded down $0.01 during trading hours on Thursday, hitting $13.13. The company had a trading volume of 736,237 shares, compared to its average volume of 349,786. The business has a fifty day simple moving average of $12.00 and a 200-day simple moving average of $12.12. Mission Produce has a fifty-two week low of $9.56 and a fifty-two week high of $15.25. The firm has a market cap of $927.24 million, a P/E ratio of 24.31 and a beta of 0.58. The company has a quick ratio of 1.30, a current ratio of 2.04 and a debt-to-equity ratio of 0.25.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Mission Produce in a research note on Wednesday, October 8th. Roth Capital lifted their target price on Mission Produce from $16.00 to $17.00 and gave the stock a “buy” rating in a research report on Tuesday, September 9th. Stephens started coverage on Mission Produce in a research note on Friday, September 12th. They issued an “overweight” rating and a $17.00 price target on the stock. Finally, Zacks Research downgraded Mission Produce from a “strong-buy” rating to a “hold” rating in a report on Monday, November 10th. Two research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $17.00.

Insider Buying and Selling at Mission Produce

In other news, major shareholder Holdings Venture Globalharvest bought 5,262 shares of the business’s stock in a transaction on Monday, November 10th. The stock was purchased at an average cost of $12.46 per share, for a total transaction of $65,564.52. Following the completion of the transaction, the insider directly owned 7,245,999 shares of the company’s stock, valued at approximately $90,285,147.54. This trade represents a 0.07% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have bought 130,811 shares of company stock worth $1,552,487 in the last quarter. 35.41% of the stock is owned by insiders.

Institutional Investors Weigh In On Mission Produce

Several large investors have recently modified their holdings of the stock. Dimensional Fund Advisors LP boosted its holdings in shares of Mission Produce by 6.6% during the third quarter. Dimensional Fund Advisors LP now owns 2,570,868 shares of the company’s stock worth $30,901,000 after purchasing an additional 159,726 shares during the period. Arrowstreet Capital Limited Partnership lifted its position in Mission Produce by 174.9% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 366,957 shares of the company’s stock worth $4,411,000 after buying an additional 233,447 shares in the last quarter. Invesco Ltd. boosted its stake in shares of Mission Produce by 287.6% during the 2nd quarter. Invesco Ltd. now owns 360,863 shares of the company’s stock valued at $4,229,000 after buying an additional 267,752 shares during the period. Qube Research & Technologies Ltd grew its holdings in shares of Mission Produce by 27.2% during the 3rd quarter. Qube Research & Technologies Ltd now owns 342,264 shares of the company’s stock valued at $4,114,000 after acquiring an additional 73,223 shares in the last quarter. Finally, Lazard Asset Management LLC grew its holdings in shares of Mission Produce by 20.1% during the 3rd quarter. Lazard Asset Management LLC now owns 225,750 shares of the company’s stock valued at $2,714,000 after acquiring an additional 37,780 shares in the last quarter. 63.57% of the stock is owned by institutional investors.

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.