Mission Produce (NASDAQ:AVO) Announces Quarterly Earnings Results

Mission Produce (NASDAQ:AVO) released its quarterly earnings data on Monday. The company reported $0.15 EPS for the quarter, missing the consensus estimate of $0.22 by ($0.07), MarketWatch Earnings reports. The firm had revenue of $261.40 million for the quarter, compared to analysts’ expectations of $241.97 million. Mission Produce had a positive return on equity of 3.82% and a negative net margin of 3.75%. The company’s revenue for the quarter was down 16.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.25 earnings per share.

Mission Produce Stock Down 2.3 %

Mission Produce stock opened at $8.77 on Wednesday. The business has a fifty day moving average price of $10.82 and a 200-day moving average price of $11.32. Mission Produce has a 1-year low of $8.55 and a 1-year high of $16.96. 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 stock has a market capitalization of $620.83 million, a price-to-earnings ratio of -16.87, a PEG ratio of 0.77 and a beta of 0.54.

Analyst Ratings Changes

Separately, JPMorgan Chase & Co. dropped their target price on Mission Produce from $12.00 to $10.00 and set a “neutral” rating on the stock in a research report on Tuesday.

Insiders Place Their Bets

In other Mission Produce news, Director Luis A. Gonzalez sold 20,000 shares of Mission Produce stock in a transaction dated Thursday, July 6th. The stock was sold at an average price of $12.16, for a total transaction of $243,200.00. Following the completion of the sale, the director now 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 accessible through this hyperlink. In other Mission Produce news, Director Luis A. Gonzalez sold 20,000 shares of Mission Produce stock in a transaction dated Thursday, July 6th. The stock was sold at an average price of $12.16, for a total transaction of $243,200.00. Following the completion of the transaction, the director now owns 345,000 shares in the company, valued at approximately $4,195,200. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Luis A. Gonzalez sold 100,000 shares of Mission Produce stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $12.00, for a total value of $1,200,000.00. Following the transaction, the director now owns 8,305,160 shares of the company’s stock, valued at approximately $99,661,920. The disclosure for this sale can be found here. In the last 90 days, insiders sold 122,000 shares of company stock valued at $1,467,040. 41.79% of the stock is owned by company insiders.

Hedge Funds Weigh In On Mission Produce

Institutional investors and hedge funds have recently modified their holdings of the business. Public Employees Retirement System of Ohio increased its stake in Mission Produce by 38.4% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 2,267 shares of the company’s stock worth $33,000 after buying an additional 629 shares in the last quarter. Lazard Asset Management LLC increased its stake in Mission Produce by 49.2% during the 1st quarter. Lazard Asset Management LLC now owns 2,450 shares of the company’s stock worth $30,000 after buying an additional 808 shares in the last quarter. State of Wisconsin Investment Board increased its stake in Mission Produce by 1.6% during the 2nd quarter. State of Wisconsin Investment Board now owns 59,255 shares of the company’s stock worth $718,000 after buying an additional 912 shares in the last quarter. Rhumbline Advisers increased its stake in Mission Produce by 2.1% during the 1st quarter. Rhumbline Advisers now owns 46,166 shares of the company’s stock worth $584,000 after buying an additional 951 shares in the last quarter. Finally, Victory Capital Management Inc. increased its stake in Mission Produce by 4.9% during the 4th quarter. Victory Capital Management Inc. now owns 23,020 shares of the company’s stock worth $287,000 after buying an additional 1,068 shares in the last quarter. Hedge funds and other institutional investors 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.