Mission Produce (NASDAQ:AVO) Stock: Insider Luis Gonzalez Acquires 29,996 Shares

Key Points

• Director Luis Gonzalez purchased 29,996 Mission Produce shares at an average price of $11.59, increasing his holdings to 7,004,139 shares valued at approximately $81.2 million.
• Mission Produce shares rose 2.2% to $11.81. The company recently reported quarterly EPS of $0.18, beating estimates of $0.12, while revenue increased 25.8% year over year to $450 million.
• Institutional investors own 63.57% of the stock, and analysts maintain a “Moderate Buy” consensus with an average price target of $16.00.

Mission Produce, Inc. (NASDAQ:AVO - Get Free Report) Director Luis Gonzalez bought 29,996 shares of the company's stock in a transaction on Friday, October 9th. The shares were acquired at an average price of $11.59 per share, with a total value of $347,653.64. Following the transaction, the director directly owned 7,004,139 shares in the company, valued at approximately $81,177,971.01. The trade was a 0.43% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available through this link.

Mission Produce Trading Up 2.2%

Shares of AVO stock traded up $0.25 during trading hours on Tuesday, reaching $11.81. The company had a trading volume of 835,594 shares, compared to its average volume of 1,033,076. The company has a 50 day moving average of $12.79 and a 200 day moving average of $12.77. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.92 and a quick ratio of 1.24. The firm has a market cap of $1.04 billion, a price-to-earnings ratio of 393.80 and a beta of 0.43. Mission Produce, Inc. has a 1-year low of $10.07 and a 1-year high of $15.53.

Mission Produce (NASDAQ:AVO - Get Free Report) last released its quarterly earnings data on Tuesday, September 8th. The company reported $0.18 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.06. The business had revenue of $450.00 million for the quarter, compared to analyst estimates of $367.57 million. Mission Produce had a net margin of 0.12% and a return on equity of 5.91%. Mission Produce's quarterly revenue was up 25.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.26 EPS. On average, equities research analysts anticipate that Mission Produce, Inc. will post 0.61 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. BlackRock Inc. raised its holdings in Mission Produce by 36.9% during the 2nd quarter. BlackRock Inc. now owns 4,775,250 shares of the company's stock worth $56,300,000 after purchasing an additional 1,286,263 shares during the last quarter. Fourth Sail Capital LP lifted its position in shares of Mission Produce by 258.5% in the 2nd quarter. Fourth Sail Capital LP now owns 3,976,272 shares of the company's stock worth $46,880,000 after purchasing an additional 2,867,072 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Mission Produce by 12.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,024,310 shares of the company's stock valued at $41,614,000 after purchasing an additional 334,629 shares during the last quarter. Rubric Capital Management LP bought a new stake in shares of Mission Produce in the 1st quarter valued at $23,756,000. Finally, State Street Corp boosted its stake in shares of Mission Produce by 41.3% in the 2nd quarter. State Street Corp now owns 1,423,029 shares of the company's stock valued at $16,778,000 after purchasing an additional 416,126 shares during the last quarter. 63.57% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Weiss Ratings raised shares of Mission Produce from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Thursday. Roth Capital reissued a "buy" rating and issued a $17.00 price target on shares of Mission Produce in a research note on Thursday, September 10th. Wall Street Zen raised Mission Produce from a "sell" rating to a "hold" rating in a research note on Saturday, September 12th. Finally, Stephens restated an "overweight" rating and issued a $15.00 price target on shares of Mission Produce in a report on Friday. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $16.00.

About Mission Produce

Mission Produce, Inc is a global avocado sourcing, distribution and marketing company headquartered in Oxnard, California. The company supplies fresh avocados to retailers, foodservice operators, wholesalers and other customers, managing activities that include procurement, quality control, ripening, packaging and distribution.

Mission Produce sources avocados from growing regions in North and South America and other international markets. Its operations are supported by ripening and distribution facilities designed to provide customers with avocados at different stages of readiness.

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