Cerity Partners LLC Makes New $426,000 Investment in Mission Produce, Inc. (NASDAQ:AVO)

Key Points

• Cerity Partners LLC acquired a new position in Mission Produce, purchasing 40,648 shares valued at approximately $426,000, which accounts for about 0.06% of the company.
• Mission Produce reported a net revenue increase of 27.8% year-over-year, with earnings per share of $0.12, surpassing analyst expectations.
• Institutional investors own 63.57% of Mission Produce's stock, indicating significant interest from large financial entities.

Cerity Partners LLC purchased a new stake in Mission Produce, Inc. (NASDAQ:AVO - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 40,648 shares of the company's stock, valued at approximately $426,000. Cerity Partners LLC owned about 0.06% of Mission Produce at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Ameriflex Group Inc. purchased a new position in shares of Mission Produce in the 4th quarter worth about $57,000. State of Wyoming bought a new stake in Mission Produce in the fourth quarter worth about $63,000. KLP Kapitalforvaltning AS purchased a new position in Mission Produce in the fourth quarter valued at about $114,000. Diversified Trust Co bought a new position in shares of Mission Produce during the 1st quarter valued at approximately $137,000. Finally, Canvas Wealth Advisors LLC purchased a new stake in shares of Mission Produce during the 1st quarter worth approximately $156,000. 63.57% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CFO Bryan E. Giles sold 3,500 shares of Mission Produce stock in a transaction on 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 in the company, valued at approximately $1,498,038.66. The trade was a 2.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 35.41% of the stock is currently owned by company insiders.

Mission Produce Stock Performance

Mission Produce stock traded up $0.12 during trading on Wednesday, hitting $12.31. The stock had a trading volume of 238,096 shares, compared to its average volume of 220,238. The stock's 50 day moving average is $11.76 and its two-hundred day moving average is $11.28. Mission Produce, Inc. has a 1 year low of $9.56 and a 1 year high of $15.25. The stock has a market cap of $869.33 million, a price-to-earnings ratio of 24.62 and a beta of 0.57. The company has a quick ratio of 1.23, a current ratio of 1.98 and a debt-to-equity ratio of 0.29.

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

Mission Produce Profile

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.