Mission Produce (NASDAQ:AVO) Chairman Sells $865,777.92 in Stock

by · The Cerbat Gem

Mission Produce, Inc. (NASDAQ:AVO – Get Free Report) Chairman Stephen Barnard sold 66,496 shares of the business’s stock in a transaction on Monday, September 14th. The stock was sold at an average price of $13.02, for a total value of $865,777.92. Following the completion of the transaction, the chairman directly owned 1,750,017 shares in the company, valued at approximately $22,785,221.34. This represents a 3.66% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Mission Produce Stock Down 0.1%

Shares of NASDAQ:AVO opened at $12.46 on Friday. Mission Produce, Inc. has a 1 year low of $10.07 and a 1 year high of $15.53. The company has a market capitalization of $1.09 billion, a PE ratio of 415.47 and a beta of 0.48. The business has a fifty day moving average price of $12.89 and a two-hundred day moving average price of $12.82. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.92 and a quick ratio of 1.24.

Mission Produce (NASDAQ:AVO – Get Free Report) last issued its quarterly earnings results 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. The company had revenue of $450.00 million for the quarter, compared to the consensus estimate of $367.57 million. Mission Produce had a net margin of 0.12% and a return on equity of 5.91%. The firm’s quarterly revenue was up 25.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.26 EPS. Analysts forecast that Mission Produce, Inc. will post 0.56 earnings per share for the current year.

Mission Produce announced that its Board of Directors has approved a stock repurchase program on Monday, June 8th that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 13.8% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

Institutional Trading of Mission Produce

Institutional investors have recently modified their holdings of the business. Public Employees Retirement System of Ohio purchased a new position in Mission Produce in the 2nd quarter valued at approximately $26,000. Leonteq Securities AG bought a new position in shares of Mission Produce in the fourth quarter worth $31,000. Quantbot Technologies LP purchased a new position in shares of Mission Produce in the second quarter valued at $44,000. Virtus Advisers LLC purchased a new position in shares of Mission Produce in the second quarter valued at $106,000. Finally, Oppenheimer Asset Management Inc. bought a new stake in shares of Mission Produce during the 2nd quarter valued at $140,000. 63.57% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently issued reports on AVO. Weiss Ratings restated a “hold (c-)” rating on shares of Mission Produce in a research note on Friday, September 4th. Roth Capital reissued a “buy” rating and set a $17.00 price objective on shares of Mission Produce in a report on Thursday, September 10th. Wall Street Zen raised Mission Produce from a “sell” rating to a “hold” rating in a research report on Saturday, September 12th. Finally, UBS Group set a $16.00 target price on Mission Produce in a research note on Wednesday, June 10th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, Mission Produce has an average rating of “Moderate Buy” and a consensus target price of $16.50.

Read Our Latest Research Report on AVO

Mission Produce Company Profile

(Get Free Report)

Mission Produce, Inc (NASDAQ:AVO) is an avocado sourcing, production, distribution and marketing company headquartered in Oxnard, California. The company supplies fresh Hass avocados and other avocado varieties to retail, foodservice and wholesale customers, managing activities across the supply chain from growing and procurement to ripening, packing and delivery.

Mission Produce works with avocado growers and operates or manages production and distribution activities in several major growing regions, including Mexico, Peru, Colombia, Chile, Brazil and the United States.

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