Mission Produce (NASDAQ:AVO) Sets New 1-Year High – Here’s Why

Mission Produce, Inc. (NASDAQ:AVO)’s share price hit a new 52-week high during trading on Tuesday . The stock traded as high as $13.77 and last traded at $13.77, with a volume of 33486 shares trading hands. The stock had previously closed at $12.13.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on AVO shares. Lake Street Capital reissued a “buy” rating and issued a $15.00 target price on shares of Mission Produce in a research note on Tuesday, September 10th. Roth Mkm increased their target price on shares of Mission Produce from $14.00 to $16.00 and gave the stock a “buy” rating in a report on Wednesday, September 11th.

Mission Produce Stock Up 5.6 %

The firm has a market capitalization of $999.85 million, a P/E ratio of 42.73 and a beta of 0.50. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.40 and a current ratio of 2.02. The firm’s 50-day moving average is $12.20 and its 200 day moving average is $11.39.

Mission Produce (NASDAQ:AVO) last posted its quarterly earnings data on Monday, September 9th. The company reported $0.21 earnings per share for the quarter, topping the consensus estimate of ($0.02) by $0.23. Mission Produce had a return on equity of 6.69% and a net margin of 2.06%. The company had revenue of $324.00 million during the quarter, compared to analysts’ expectations of $229.90 million. As a group, equities research analysts predict that Mission Produce, Inc. will post 0.39 EPS for the current fiscal year.

Insider Transactions at Mission Produce

In related news, Director Luis A. Gonzalez sold 49,331 shares of the firm’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $13.03, for a total value of $642,782.93. Following the completion of the transaction, the director now owns 7,398,902 shares of the company’s stock, valued at approximately $96,407,693.06. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Luis A. Gonzalez sold 49,331 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $13.03, for a total transaction of $642,782.93. Following the sale, the director now owns 7,398,902 shares in the company, valued at $96,407,693.06. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Jay A. Pack sold 22,000 shares of the business’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $13.41, for a total transaction of $295,020.00. Following the transaction, the director now owns 1,115,160 shares in the company, valued at $14,954,295.60. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 296,059 shares of company stock valued at $3,920,360 in the last ninety days. 41.60% of the stock is currently owned by corporate insiders.

Institutional Trading of Mission Produce

Hedge funds have recently modified their holdings of the stock. Dimensional Fund Advisors LP grew its stake in Mission Produce by 25.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,327,266 shares of the company’s stock valued at $13,113,000 after buying an additional 266,489 shares during the last quarter. Marshall Wace LLP increased its stake in shares of Mission Produce by 202.1% during the second quarter. Marshall Wace LLP now owns 215,047 shares of the company’s stock worth $2,125,000 after purchasing an additional 143,858 shares during the period. SG Capital Management LLC acquired a new stake in Mission Produce during the 1st quarter worth approximately $1,331,000. Wedge Capital Management L L P NC bought a new stake in Mission Produce in the 3rd quarter valued at $955,000. Finally, SageView Advisory Group LLC acquired a new position in Mission Produce in the 1st quarter valued at $672,000. Institutional investors and hedge funds own 63.57% 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.