Mission Produce (NASDAQ:AVO) Issues Earnings Results, Beats Expectations By $0.13 EPS

Mission Produce (NASDAQ:AVOGet Free Report) issued its earnings results on Thursday. The company reported $0.12 earnings per share for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $226.70 million.

Mission Produce Stock Down 2.5 %

Mission Produce stock opened at $11.15 on Friday. The company has a market capitalization of $789.94 million, a P/E ratio of 44.60 and a beta of 0.51. The firm’s fifty day simple moving average is $11.82 and its 200-day simple moving average is $10.81. The company has a current ratio of 2.27, a quick ratio of 1.47 and a debt-to-equity ratio of 0.33. Mission Produce has a 1-year low of $8.19 and a 1-year high of $13.99.

Insider Activity

In other news, Director Luis A. Gonzalez sold 27,422 shares of the firm’s stock in a transaction on Monday, May 13th. The shares were sold at an average price of $12.23, for a total transaction of $335,371.06. Following the transaction, the director now owns 123,000 shares in the company, valued at approximately $1,504,290. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Luis A. Gonzalez sold 27,422 shares of the firm’s stock in a transaction on Monday, May 13th. The shares were sold at an average price of $12.23, for a total transaction of $335,371.06. Following the transaction, the director now owns 123,000 shares in the company, valued at approximately $1,504,290. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Luis A. Gonzalez sold 231,250 shares of Mission Produce stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $11.83, for a total transaction of $2,735,687.50. Following the completion of the transaction, the director now owns 7,916,983 shares in the company, valued at approximately $93,657,908.89. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 526,621 shares of company stock worth $6,177,782. 41.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Swiss National Bank grew its position in Mission Produce by 2.0% in the 3rd quarter. Swiss National Bank now owns 93,300 shares of the company’s stock worth $903,000 after purchasing an additional 1,800 shares during the last quarter. Raymond James & Associates grew its position in Mission Produce by 12.2% in the 4th quarter. Raymond James & Associates now owns 271,107 shares of the company’s stock worth $2,735,000 after purchasing an additional 29,561 shares during the last quarter. SG Americas Securities LLC grew its position in Mission Produce by 28.1% in the 4th quarter. SG Americas Securities LLC now owns 25,325 shares of the company’s stock worth $256,000 after purchasing an additional 5,552 shares during the last quarter. First Trust Direct Indexing L.P. grew its position in Mission Produce by 27.9% in the 4th quarter. First Trust Direct Indexing L.P. now owns 13,680 shares of the company’s stock worth $138,000 after purchasing an additional 2,981 shares during the last quarter. Finally, Tower Research Capital LLC TRC grew its position in Mission Produce by 437.5% in the 4th quarter. Tower Research Capital LLC TRC now owns 5,004 shares of the company’s stock worth $50,000 after purchasing an additional 4,073 shares during the last quarter. Institutional investors own 63.57% of the company’s stock.

Analyst Upgrades and Downgrades

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

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About Mission Produce

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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.

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Earnings History for Mission Produce (NASDAQ:AVO)

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