Mackenzie Financial Corp Raises Position in Mission Produce, Inc. (NASDAQ:AVO)

Key Points

• Mackenzie Financial Corp boosted its holdings in Mission Produce, Inc. by 251.0%, increasing its ownership to 139,429 shares worth $1.46 million as of the recent SEC filing.
• Mission Produce reported a net margin of 2.63% and a quarterly revenue of $380.3 million, exceeding analyst expectations significantly.
• Insider selling occurred as CFO Bryan E. Giles sold 3,500 shares for $40,005, reducing his stake by 2.6% and leaving him with approximately 131,062 shares valued at about $1.5 million.

Mackenzie Financial Corp boosted its position in Mission Produce, Inc. (NASDAQ:AVO - Free Report) by 251.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 139,429 shares of the company's stock after purchasing an additional 99,700 shares during the quarter. Mackenzie Financial Corp owned about 0.20% of Mission Produce worth $1,461,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently made changes to their positions in AVO. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Mission Produce by 3.8% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,733 shares of the company's stock valued at $355,000 after purchasing an additional 900 shares during the last quarter. Bank of America Corp DE grew its holdings in Mission Produce by 1.0% in the 4th quarter. Bank of America Corp DE now owns 102,193 shares of the company's stock worth $1,469,000 after acquiring an additional 1,003 shares during the last quarter. Invesco Ltd. grew its holdings in Mission Produce by 1.2% in the 4th quarter. Invesco Ltd. now owns 96,888 shares of the company's stock worth $1,392,000 after acquiring an additional 1,123 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Mission Produce by 19.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 17,392 shares of the company's stock valued at $250,000 after acquiring an additional 2,819 shares during the period. Finally, GAMMA Investing LLC raised its stake in shares of Mission Produce by 1,255.4% during the first quarter. GAMMA Investing LLC now owns 3,375 shares of the company's stock valued at $322,000 after acquiring an additional 3,126 shares during the last quarter. 63.57% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

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

Mission Produce Trading Down 0.5%

Shares of Mission Produce stock traded down $0.07 during trading on Friday, reaching $12.39. 80,623 shares of the stock were exchanged, compared to its average volume of 327,695. The company has a quick ratio of 1.23, a current ratio of 1.98 and a debt-to-equity ratio of 0.29. The firm has a market cap of $874.63 million, a price-to-earnings ratio of 24.77 and a beta of 0.57. Mission Produce, Inc. has a 1 year low of $9.56 and a 1 year high of $15.25. The stock's fifty day moving average is $11.99 and its 200 day moving average is $11.28.

Mission Produce (NASDAQ:AVO - Get Free Report) last released its quarterly earnings data 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 business had revenue of $380.30 million during the quarter, compared to analysts' expectations of $296.15 million. During the same quarter last year, the business posted $0.14 EPS. The business's revenue was up 27.8% on a year-over-year basis. As a group, equities research analysts expect that Mission Produce, Inc. will post 0.34 earnings per share for the current fiscal 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.