Mission Produce (NASDAQ:AVO) Announces Earnings Results, Beats Expectations By $0.09 EPS

Mission Produce (NASDAQ:AVO - Get Free Report) released its earnings results on Thursday. The company reported $0.12 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.03 by $0.09, Briefing.com reports. The firm had revenue of $380.30 million during the quarter, compared to analyst estimates of $296.15 million. Mission Produce had a return on equity of 8.48% and a net margin of 2.97%. Mission Produce's revenue was up 27.8% compared to the same quarter last year. During the same period last year, the business posted $0.14 earnings per share.

Mission Produce Stock Up 5.0%

NASDAQ:AVO traded up $0.52 during midday trading on Friday, reaching $11.02. The company had a trading volume of 766,987 shares, compared to its average volume of 298,593. The firm has a market capitalization of $783.21 million, a price-to-earnings ratio of 21.61 and a beta of 0.56. The company has a current ratio of 1.87, a quick ratio of 1.26 and a debt-to-equity ratio of 0.23. The stock's fifty day simple moving average is $10.41 and its 200-day simple moving average is $11.61. Mission Produce has a 12-month low of $9.54 and a 12-month high of $15.25.

Insiders Place Their Bets

In other Mission Produce news, insider Juan R. Wiesner sold 75,153 shares of Mission Produce stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $10.08, for a total transaction of $757,542.24. Following the completion of the sale, the insider now directly owns 1,000,000 shares of the company's stock, valued at $10,080,000. The trade was a 6.99% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 35.41% of the stock is owned by company insiders.

Institutional Trading of Mission Produce

Institutional investors have recently bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Mission Produce by 4.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 25,825 shares of the company's stock valued at $271,000 after acquiring an additional 1,092 shares during the period. Acadian Asset Management LLC acquired a new stake in shares of Mission Produce in the 1st quarter worth approximately $581,000. Jane Street Group LLC grew its holdings in shares of Mission Produce by 179.7% in the 1st quarter. Jane Street Group LLC now owns 65,813 shares of the company's stock worth $690,000 after acquiring an additional 42,284 shares during the period. AQR Capital Management LLC grew its holdings in shares of Mission Produce by 228.4% in the 1st quarter. AQR Capital Management LLC now owns 95,816 shares of the company's stock worth $1,004,000 after acquiring an additional 66,640 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Mission Produce by 10.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 163,304 shares of the company's stock worth $1,711,000 after acquiring an additional 15,076 shares during the period. 63.57% of the stock is owned by hedge funds and other institutional investors.

Mission Produce Company 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.