Mission Produce (NASDAQ:AVO) Director Luis Gonzalez Purchases 29,996 Shares of Company Stock

Mission Produce, Inc. (NASDAQ:AVO) Director Luis Gonzalez purchased 29,996 shares of Mission Produce stock in a transaction dated Friday, October 9th. The stock was acquired at an average price of $11.59 per share, with a total value of $347,653.64. Following the acquisition, the director owned 7,004,139 shares in the company, valued at approximately $81,177,971.01. This represents a 0.43% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Mission Produce Stock Up 2.2%

Mission Produce stock opened at $11.81 on Wednesday. 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 firm has a market cap of $1.04 billion, a P/E ratio of 393.80 and a beta of 0.43. Mission Produce, Inc. has a twelve month low of $10.07 and a twelve month high of $15.53. The business has a fifty day moving average of $12.78 and a two-hundred day moving average of $12.76.

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

Wall Street Analysts Forecast Growth

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in AVO. Public Employees Retirement System of Ohio acquired a new position in shares of Mission Produce during the 2nd quarter valued at about $26,000. Quantbot Technologies LP purchased a new position in shares of Mission Produce during the 2nd quarter worth $44,000. Virtus Advisers LLC acquired a new stake in shares of Mission Produce during the 2nd quarter worth about $106,000. Oppenheimer Asset Management Inc. acquired a new stake in shares of Mission Produce during the 2nd quarter worth about $140,000. Finally, Arizona State Retirement System increased its position 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 last quarter. 63.57% of the stock is currently owned by institutional investors and hedge funds.

Mission Produce Company Profile

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.