Jefferies Financial Group Inc. Acquires Shares of 63,100 Mission Produce, Inc. (NASDAQ:AVO)

Key Points

• Jefferies Financial Group Inc. invested approximately $661,000 in Mission Produce, acquiring 63,100 shares of the company during Q1.
• Mission Produce reported earnings per share of $0.12 for the latest quarter, significantly exceeding analysts' expectations of $0.03, with revenues of $380.30 million.
• Institutional investors collectively own 63.57% of Mission Produce's stock, highlighting significant trust in the company's performance and growth potential.

Jefferies Financial Group Inc. bought a new stake in Mission Produce, Inc. (NASDAQ:AVO - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 63,100 shares of the company's stock, valued at approximately $661,000. Jefferies Financial Group Inc. owned 0.09% of Mission Produce at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. GAMMA Investing LLC increased its holdings in shares of Mission Produce by 1,255.4% in the first quarter. GAMMA Investing LLC now owns 3,375 shares of the company's stock valued at $322,000 after purchasing an additional 3,126 shares during the period. Ameriflex Group Inc. acquired a new position in shares of Mission Produce in the fourth quarter valued at approximately $57,000. State of Wyoming acquired a new position in shares of Mission Produce in the fourth quarter valued at approximately $63,000. KLP Kapitalforvaltning AS acquired a new position in Mission Produce during the fourth quarter worth $114,000. Finally, ProShare Advisors LLC acquired a new position in Mission Produce during the fourth quarter worth $176,000. Institutional investors and hedge funds own 63.57% of the company's stock.

Mission Produce Price Performance

AVO stock traded down $0.13 on Friday, reaching $12.32. 206,686 shares of the company's stock were exchanged, compared to its average volume of 219,978. The stock has a fifty day moving average of $12.01 and a 200-day moving average of $11.28. Mission Produce, Inc. has a twelve month low of $9.56 and a twelve month high of $15.25. The firm has a market cap of $870.04 million, a PE ratio of 24.64 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 earnings results on Thursday, June 5th. The company reported $0.12 earnings per share for the quarter, beating 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 for the quarter, compared to analyst estimates of $296.15 million. During the same quarter in the prior year, the company earned $0.14 earnings per share. Mission Produce's revenue was up 27.8% compared to the same quarter last year. As a group, equities analysts predict that Mission Produce, Inc. will post 0.34 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Bryan E. Giles sold 3,500 shares of the stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $11.43, for a total transaction of $40,005.00. Following the transaction, the chief financial officer directly owned 131,062 shares in the company, valued at approximately $1,498,038.66. This represents a 2.60% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 35.41% of the company's stock.

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.