Mission Produce (NASDAQ:AVO) Director Buys $247,131.72 in Stock

Mission Produce, Inc. (NASDAQ:AVO) Director Luis Gonzalez acquired 22,026 shares of the firm’s stock in a transaction on Monday, October 12th. The stock was bought at an average price of $11.22 per share, with a total value of $247,131.72. Following the purchase, the director directly owned 7,026,165 shares of the company’s stock, valued at $78,833,571.30. This represents a 0.31% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Mission Produce Stock Performance

Shares of AVO stock traded up $0.25 during mid-day trading on Tuesday, hitting $11.81. 835,594 shares of the stock were exchanged, compared to its average volume of 1,033,076. The stock’s fifty day simple moving average is $12.79 and its two-hundred day simple moving average is $12.77. The stock has a market capitalization of $1.04 billion, a price-to-earnings ratio of 393.80 and a beta of 0.43. Mission Produce, Inc. has a 12-month low of $10.07 and a 12-month high of $15.53. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.24 and a current ratio of 1.92.

Mission Produce (NASDAQ:AVO) last announced its earnings results on Tuesday, September 8th. The company reported $0.18 EPS for the quarter, beating analysts’ consensus estimates of $0.12 by $0.06. The business had revenue of $450.00 million for the quarter, compared to analysts’ expectations of $367.57 million. Mission Produce had a net margin of 0.12% and a return on equity of 5.91%. The company’s quarterly revenue was up 25.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.26 EPS. On average, analysts forecast that Mission Produce, Inc. will post 0.61 EPS for the current year.

Institutional Trading of Mission Produce

Hedge funds have recently modified their holdings of the business. Diversified Trust Co grew its holdings in Mission Produce by 12.0% during the first quarter. Diversified Trust Co now owns 19,373 shares of the company’s stock worth $267,000 after acquiring an additional 2,074 shares during the period. Principal Financial Group Inc. boosted its position in shares of Mission Produce by 5.9% during the 2nd quarter. Principal Financial Group Inc. now owns 37,509 shares of the company’s stock worth $442,000 after purchasing an additional 2,082 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new stake in shares of Mission Produce during the 2nd quarter worth $26,000. Arizona State Retirement System grew its stake in shares of Mission Produce by 20.8% during the 2nd quarter. Arizona State Retirement System now owns 15,236 shares of the company’s stock worth $180,000 after purchasing an additional 2,628 shares during the period. Finally, Quantbot Technologies LP acquired a new position in shares of Mission Produce during the 2nd quarter worth $44,000. 63.57% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

AVO has been the subject of several recent research reports. Weiss Ratings raised Mission Produce from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday. Stephens reissued an “overweight” rating and issued a $15.00 price objective on shares of Mission Produce in a research note on Friday. Roth Capital restated a “buy” rating and set a $17.00 price objective on shares of Mission Produce in a research report on Thursday, September 10th. Finally, Wall Street Zen upgraded shares of Mission Produce from a “sell” rating to a “hold” rating in a research note on Saturday, September 12th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, Mission Produce currently 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.