Mackenzie Financial Corp Acquires 99,700 Shares of 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 raised its holdings in Mission Produce, Inc. (NASDAQ:AVO - Free Report) by 251.0% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 139,429 shares of the company's stock after acquiring an additional 99,700 shares during the period. Mackenzie Financial Corp owned 0.20% of Mission Produce worth $1,461,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Ameriflex Group Inc. purchased a new position in Mission Produce in the 4th quarter worth approximately $57,000. State of Wyoming purchased a new position in shares of Mission Produce in the fourth quarter valued at $63,000. KLP Kapitalforvaltning AS purchased a new stake in Mission Produce during the 4th quarter worth $114,000. Diversified Trust Co acquired a new position in Mission Produce in the 1st quarter worth $137,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Mission Produce in the 1st quarter worth $144,000. Hedge funds and other institutional investors own 63.57% of the company's stock.

Insider Activity at Mission Produce

In other news, CFO Bryan E. Giles sold 3,500 shares of the firm's 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 sale, the chief financial officer owned 131,062 shares of the company's stock, valued at $1,498,038.66. This trade represents a 2.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 35.41% of the stock is currently owned by insiders.

Mission Produce Stock Performance

Shares of NASDAQ AVO traded down $0.02 during trading on Wednesday, reaching $12.39. The stock had a trading volume of 202,480 shares, compared to its average volume of 330,593. The firm's 50 day moving average price is $11.93 and its two-hundred day moving average price is $11.27. Mission Produce, Inc. has a one year low of $9.56 and a one year high of $15.25. The stock has a market cap of $874.98 million, a PE ratio of 24.78 and a beta of 0.57. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.23 and a current ratio of 1.98.

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 for the quarter, beating the consensus estimate of $0.03 by $0.09. The firm had revenue of $380.30 million for the quarter, compared to the consensus estimate of $296.15 million. Mission Produce had a net margin of 2.63% and a return on equity of 7.82%. Mission Produce's quarterly revenue was up 27.8% compared to the same quarter last year. During the same period last year, the firm posted $0.14 EPS. On average, research analysts forecast that Mission Produce, Inc. will post 0.34 earnings per share for the current fiscal year.

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.