Mission Produce (NASDAQ:AVO) Issues Quarterly Earnings Results

Mission Produce (NASDAQ:AVOGet Free Report) released its earnings results on Thursday. The company reported $0.12 earnings per share for the quarter, beating the consensus estimate of ($0.01) by $0.13, reports. Mission Produce had a net margin of 1.64% and a return on equity of 5.67%. The firm had revenue of $297.60 million during the quarter, compared to analyst estimates of $226.70 million.

Mission Produce Stock Performance

Shares of AVO opened at $11.15 on Friday. Mission Produce has a 52-week low of $8.19 and a 52-week high of $13.99. The company has a quick ratio of 1.47, a current ratio of 2.27 and a debt-to-equity ratio of 0.33. The firm has a market capitalization of $789.98 million, a PE ratio of 44.60 and a beta of 0.51. The firm has a 50-day moving average price of $11.82 and a 200 day moving average price of $10.80.

Wall Street Analyst Weigh In

Separately, Lake Street Capital initiated coverage on shares of Mission Produce in a research note on Friday, May 17th. They set a “buy” rating and a $15.00 target price for the company.

Check Out Our Latest Report on Mission Produce

Insider Buying and Selling at Mission Produce

In other Mission Produce news, Director Luis A. Gonzalez sold 42,008 shares of the company’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $12.07, for a total value of $507,036.56. Following the completion of the sale, the director now directly owns 7,781,178 shares of the company’s stock, valued at approximately $93,918,818.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Mission Produce news, Director Luis A. Gonzalez sold 6,869 shares of the company’s stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $12.01, for a total transaction of $82,496.69. Following the completion of the sale, the director now directly owns 7,767,038 shares of the company’s stock, valued at $93,282,126.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Luis A. Gonzalez sold 42,008 shares of the company’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $12.07, for a total transaction of $507,036.56. Following the sale, the director now directly owns 7,781,178 shares of the company’s stock, valued at $93,918,818.46. The disclosure for this sale can be found here. In the last three months, insiders sold 526,621 shares of company stock valued at $6,177,782. 41.60% of the stock is owned by insiders.

Institutional Trading of Mission Produce

A number of hedge funds have recently bought and sold shares of AVO. SG Capital Management LLC acquired a new position in shares of Mission Produce in the 1st quarter valued at about $1,331,000. Price T Rowe Associates Inc. MD increased its holdings in shares of Mission Produce by 15.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 13,932 shares of the company’s stock valued at $166,000 after purchasing an additional 1,870 shares during the period. Lazard Asset Management LLC increased its holdings in shares of Mission Produce by 245.2% in the 1st quarter. Lazard Asset Management LLC now owns 4,381 shares of the company’s stock valued at $52,000 after purchasing an additional 3,112 shares during the period. PEAK6 Investments LLC acquired a new position in shares of Mission Produce in the 1st quarter valued at about $132,000. Finally, Advisors Asset Management Inc. acquired a new position in shares of Mission Produce in the 1st quarter valued at about $212,000. 63.57% of the stock is owned by hedge funds and other institutional investors.

Mission Produce Company Profile

(Get Free Report)

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.

Further Reading

Earnings History for Mission Produce (NASDAQ:AVO)

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