JPMorgan Chase & Co. Trims Mission Produce (NASDAQ:AVO) Target Price to $10.00

Mission Produce (NASDAQ:AVO) had its price target cut by JPMorgan Chase & Co. from $12.00 to $10.00 in a research report report published on Tuesday, Marketbeat Ratings reports. They currently have a neutral rating on the stock.

Mission Produce Stock Performance

NASDAQ:AVO opened at $9.38 on Tuesday. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.28 and a quick ratio of 1.36. The firm has a market capitalization of $664.01 million, a price-to-earnings ratio of -17.96, a PEG ratio of 0.77 and a beta of 0.54. The company’s 50-day moving average is $10.76 and its two-hundred day moving average is $11.30. Mission Produce has a 1-year low of $8.55 and a 1-year high of $16.96.

Mission Produce (NASDAQ:AVO) last issued its quarterly earnings data on Monday, September 11th. The company reported $0.15 EPS for the quarter, missing the consensus estimate of $0.22 by ($0.07). Mission Produce had a positive return on equity of 3.82% and a negative net margin of 3.75%. The company had revenue of $261.40 million during the quarter, compared to analyst estimates of $241.97 million. During the same quarter in the prior year, the company posted $0.25 earnings per share. The business’s revenue was down 16.5% compared to the same quarter last year. Analysts forecast that Mission Produce will post 0.44 EPS for the current year.

Insider Buying and Selling at Mission Produce

In other Mission Produce news, Director Luis A. Gonzalez sold 20,000 shares of the stock in a transaction that occurred on Thursday, July 6th. The shares were sold at an average price of $12.16, for a total value of $243,200.00. Following the sale, the director now directly owns 345,000 shares of the company’s stock, valued at approximately $4,195,200. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, Director Luis A. Gonzalez sold 20,000 shares of the stock in a transaction on Thursday, July 6th. The shares were sold at an average price of $12.16, for a total value of $243,200.00. Following the transaction, the director now directly owns 345,000 shares of the company’s stock, valued at approximately $4,195,200. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Luis A. Gonzalez sold 100,000 shares of the stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $12.00, for a total transaction of $1,200,000.00. Following the completion of the transaction, the director now directly owns 8,305,160 shares in the company, valued at $99,661,920. The disclosure for this sale can be found here. In the last three months, insiders have sold 122,000 shares of company stock valued at $1,467,040. Insiders own 41.79% of the company’s stock.

Institutional Trading of Mission Produce

Several hedge funds have recently made changes to their positions in the company. Swiss National Bank increased its holdings in shares of Mission Produce by 7.4% in the 1st quarter. Swiss National Bank now owns 33,400 shares of the company’s stock valued at $423,000 after purchasing an additional 2,300 shares in the last quarter. Raymond James & Associates increased its holdings in shares of Mission Produce by 131.2% in the 1st quarter. Raymond James & Associates now owns 172,111 shares of the company’s stock valued at $2,177,000 after purchasing an additional 97,677 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Mission Produce by 2.1% in the 1st quarter. Bank of New York Mellon Corp now owns 169,377 shares of the company’s stock valued at $2,142,000 after purchasing an additional 3,517 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of Mission Produce by 3,991.7% in the 1st quarter. PNC Financial Services Group Inc. now owns 3,437 shares of the company’s stock valued at $43,000 after purchasing an additional 3,353 shares in the last quarter. Finally, MetLife Investment Management LLC increased its holdings in Mission Produce by 58.5% during the 1st quarter. MetLife Investment Management LLC now owns 23,931 shares of the company’s stock valued at $303,000 after acquiring an additional 8,832 shares in the last quarter. Institutional investors and hedge funds own 27.88% of the company’s stock.

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.