Insider Buying: Mission Produce (NASDAQ:AVO) Director Buys $347,653.64 in Stock

Mission Produce, Inc. (NASDAQ:AVO) Director Luis Gonzalez bought 29,996 shares of Mission Produce stock in a transaction that occurred on Friday, October 9th. The stock was purchased at an average cost of $11.59 per share, for a total transaction of $347,653.64. Following the purchase, the director owned 7,004,139 shares of the company’s stock, valued at $81,177,971.01. The trade was a 0.43% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Mission Produce Trading Up 0.2%

Shares of AVO stock opened at $12.08 on Friday. The company has a quick ratio of 1.24, a current ratio of 1.92 and a debt-to-equity ratio of 0.52. The business has a 50-day moving average price of $12.76 and a two-hundred day moving average price of $12.73. Mission Produce, Inc. has a 12-month low of $10.07 and a 12-month high of $15.53. The firm has a market cap of $1.06 billion, a P/E ratio of 402.80 and a beta of 0.43.

Mission Produce (NASDAQ:AVO) last posted its quarterly earnings data on Tuesday, September 8th. The company reported $0.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.12 by $0.06. The firm had revenue of $450.00 million during the quarter, compared to analysts’ expectations of $367.57 million. Mission Produce had a return on equity of 5.91% and a net margin of 0.12%. The company’s revenue for the quarter was up 25.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.26 EPS. Equities analysts anticipate that Mission Produce, Inc. will post 0.61 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Roth Capital reiterated a “buy” rating and set a $17.00 price target on shares of Mission Produce in a research report on Thursday, September 10th. Wall Street Zen upgraded shares of Mission Produce from a “sell” rating to a “hold” rating in a report on Saturday, September 12th. Stephens reaffirmed an “overweight” rating and issued a $15.00 price objective on shares of Mission Produce in a research note on Friday, October 9th. Finally, Weiss Ratings raised shares of Mission Produce from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $16.00.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of AVO. Diversified Trust Co increased its stake in shares of Mission Produce by 12.0% during the first quarter. Diversified Trust Co now owns 19,373 shares of the company’s stock valued at $267,000 after buying an additional 2,074 shares during the period. Principal Financial Group Inc. lifted its stake in Mission Produce by 5.9% in the second quarter. Principal Financial Group Inc. now owns 37,509 shares of the company’s stock worth $442,000 after acquiring an additional 2,082 shares during the period. Public Employees Retirement System of Ohio purchased a new stake in Mission Produce in the second quarter worth $26,000. Arizona State Retirement System lifted its stake in Mission Produce by 20.8% in the second quarter. Arizona State Retirement System now owns 15,236 shares of the company’s stock worth $180,000 after acquiring an additional 2,628 shares during the period. Finally, Quantbot Technologies LP bought a new stake in Mission Produce in the second quarter valued at $44,000. Institutional investors own 63.57% of the company’s stock.

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.