Mission Produce, Inc. $AVO Shares Bought by American Century Companies Inc.

Key Points

• American Century Companies Inc. increased its stake in Mission Produce, Inc. by 38.1%, owning 669,734 shares valued at approximately $7.02 million at the end of the first quarter.
• Mission Produce reported a quarterly earnings of $0.12 EPS, surpassing analysts' expectations of $0.03, with revenues of $380.3 million for the quarter, up 27.8% year-over-year.
• As of the latest reports, institutional investors hold 63.57% of Mission Produce's stock, indicating strong institutional interest in the company.

American Century Companies Inc. lifted its stake in shares of Mission Produce, Inc. (NASDAQ:AVO - Free Report) by 38.1% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 669,734 shares of the company's stock after acquiring an additional 184,639 shares during the period. American Century Companies Inc. owned 0.94% of Mission Produce worth $7,019,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of AVO. Millennium Management LLC raised its holdings in shares of Mission Produce by 153.3% during the 4th quarter. Millennium Management LLC now owns 453,757 shares of the company's stock worth $6,520,000 after acquiring an additional 274,591 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Mission Produce by 16.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,787,778 shares of the company's stock worth $25,691,000 after acquiring an additional 257,344 shares during the period. Cambridge Investment Research Advisors Inc. purchased a new position in shares of Mission Produce during the 1st quarter worth $1,339,000. D. E. Shaw & Co. Inc. raised its holdings in shares of Mission Produce by 96.0% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 225,025 shares of the company's stock worth $3,234,000 after acquiring an additional 110,198 shares during the period. Finally, Nuveen LLC purchased a new position in shares of Mission Produce during the 1st quarter worth $1,137,000. Hedge funds and other institutional investors own 63.57% of the company's stock.

Analyst Ratings Changes

Separately, Zacks Research lowered Mission Produce from a "strong-buy" rating to a "hold" rating in a report on Tuesday. Two equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, Mission Produce presently has an average rating of "Moderate Buy" and a consensus target price of $15.50.

Mission Produce Trading Down 1.1%

Shares of NASDAQ:AVO traded down $0.14 during midday trading on Friday, reaching $12.51. 254,737 shares of the company's stock were exchanged, compared to its average volume of 236,162. The firm's 50 day simple moving average is $12.24 and its two-hundred day simple moving average is $11.35. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.98 and a quick ratio of 1.23. The stock has a market cap of $883.46 million, a price-to-earnings ratio of 25.02 and a beta of 0.57. Mission Produce, Inc. has a fifty-two week low of $9.56 and a fifty-two week high of $15.25.

Mission Produce (NASDAQ:AVO - Get Free Report) last issued its quarterly earnings data on Thursday, June 5th. The company reported $0.12 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.03 by $0.09. The firm had revenue of $380.30 million during the quarter, compared to the consensus estimate of $296.15 million. Mission Produce had a return on equity of 7.82% and a net margin of 2.63%.The company's quarterly revenue was up 27.8% on a year-over-year basis. During the same period last year, the company earned $0.14 EPS. As a group, sell-side analysts forecast that Mission Produce, Inc. will post 0.34 EPS for the current fiscal year.

Insiders Place Their Bets

In other Mission Produce news, CFO Bryan E. Giles sold 3,500 shares of Mission Produce stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $11.43, for a total value of $40,005.00. Following the completion of the transaction, the chief financial officer directly owned 131,062 shares of the company's stock, valued at $1,498,038.66. The trade was a 2.60% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 35.41% of the stock is currently owned by corporate insiders.

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.