Mission Produce (NASDAQ:AVO) Stock: Insider Luis Gonzalez Buys 22,026 Shares

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

Mission Produce Stock Up 2.0%

NASDAQ:AVO opened at $12.05 on Thursday. Mission Produce, Inc. has a 1 year low of $10.07 and a 1 year high of $15.53. The company has a current ratio of 1.92, a quick ratio of 1.24 and a debt-to-equity ratio of 0.52. The stock has a market cap of $1.06 billion, a price-to-earnings ratio of 401.80 and a beta of 0.43. The stock has a 50-day moving average price of $12.77 and a two-hundred day moving average price of $12.75.

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 company had revenue of $450.00 million during the quarter, compared to the consensus estimate of $367.57 million. Mission Produce had a return on equity of 5.91% and a net margin of 0.12%. The company’s revenue for the quarter was up 25.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.26 earnings per share. As a group, equities analysts expect that Mission Produce, Inc. will post 0.61 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Stephens reiterated an “overweight” rating and issued a $15.00 price objective on shares of Mission Produce in a research report on Friday, October 9th. 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. Weiss Ratings upgraded shares of Mission Produce from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, October 8th. Finally, Wall Street Zen raised shares of Mission Produce from a “sell” rating to a “hold” rating in a research note on Saturday, September 12th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $16.00.

Hedge Funds Weigh In On Mission Produce

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. increased its holdings in Mission Produce by 36.9% during the 2nd quarter. BlackRock Inc. now owns 4,775,250 shares of the company’s stock worth $56,300,000 after purchasing an additional 1,286,263 shares in the last quarter. Fourth Sail Capital LP raised its stake in shares of Mission Produce by 258.5% in the 2nd 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 during the period. Dimensional Fund Advisors LP lifted its holdings 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 in the first quarter valued at about $23,756,000. Finally, State Street Corp lifted its holdings 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 valued at $16,778,000 after purchasing an additional 416,126 shares in the last quarter. 63.57% of the stock is owned by institutional investors and hedge funds.

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.