Mission Produce (NASDAQ:AVO) Announces Earnings Results

Mission Produce (NASDAQ:AVOGet Rating) posted its quarterly earnings data on Thursday. The company reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.04), Briefing.com reports. Mission Produce had a net margin of 2.33% and a return on equity of 4.65%. The firm had revenue of $313.20 million for the quarter, compared to analysts’ expectations of $292.93 million. During the same period in the prior year, the company posted $0.27 earnings per share. Mission Produce’s quarterly revenue was up 26.9% compared to the same quarter last year.

Mission Produce Stock Up 0.8 %

Shares of NASDAQ AVO traded up $0.13 during mid-day trading on Friday, reaching $15.58. The company had a trading volume of 167,956 shares, compared to its average volume of 151,504. The stock has a fifty day moving average of $15.26 and a two-hundred day moving average of $13.87. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.28 and a current ratio of 1.98. The company has a market capitalization of $1.10 billion, a price-to-earnings ratio of 45.82, a PEG ratio of 2.90 and a beta of 0.02. Mission Produce has a 12-month low of $11.04 and a 12-month high of $21.03.

Analyst Ratings Changes

A number of analysts have commented on AVO shares. TheStreet raised shares of Mission Produce from a “d+” rating to a “c-” rating in a research note on Tuesday, July 19th. Stephens upped their price objective on shares of Mission Produce to $17.00 in a research note on Thursday, June 9th.

Insider Transactions at Mission Produce

In other news, CFO Bryan E. Giles sold 2,500 shares of the stock in a transaction that occurred on Wednesday, August 10th. The shares were sold at an average price of $15.50, for a total value of $38,750.00. Following the completion of the sale, the chief financial officer now directly owns 73,957 shares of the company’s stock, valued at $1,146,333.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Bryan E. Giles sold 3,085 shares of the firm’s stock in a transaction that occurred on Tuesday, June 21st. The shares were sold at an average price of $14.63, for a total transaction of $45,133.55. Following the transaction, the chief financial officer now owns 73,957 shares of the company’s stock, valued at $1,081,990.91. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Bryan E. Giles sold 2,500 shares of the firm’s stock in a transaction that occurred on Wednesday, August 10th. The shares were sold at an average price of $15.50, for a total transaction of $38,750.00. Following the transaction, the chief financial officer now directly owns 73,957 shares in the company, valued at approximately $1,146,333.50. The disclosure for this sale can be found here. Insiders sold 8,085 shares of company stock valued at $125,134 over the last three months. 43.70% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Mission Produce

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Swiss National Bank grew its stake in shares of Mission Produce by 7.4% in the first quarter. Swiss National Bank now owns 33,400 shares of the company’s stock worth $423,000 after acquiring an additional 2,300 shares during the last quarter. Raymond James & Associates grew its stake in shares of Mission Produce by 131.2% in the first quarter. Raymond James & Associates now owns 172,111 shares of the company’s stock worth $2,177,000 after acquiring an additional 97,677 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of Mission Produce by 2.1% in the first quarter. Bank of New York Mellon Corp now owns 169,377 shares of the company’s stock worth $2,142,000 after acquiring an additional 3,517 shares during the last quarter. PNC Financial Services Group Inc. grew its stake in shares of Mission Produce by 3,991.7% in the first quarter. PNC Financial Services Group Inc. now owns 3,437 shares of the company’s stock worth $43,000 after acquiring an additional 3,353 shares during the last quarter. Finally, MetLife Investment Management LLC grew its stake in shares of Mission Produce by 58.5% in the first quarter. MetLife Investment Management LLC now owns 23,931 shares of the company’s stock worth $303,000 after acquiring an additional 8,832 shares during the last quarter. Institutional investors and hedge funds own 22.48% of the company’s stock.

About Mission Produce

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Mission Produce, Inc engages in sourcing, producing, packaging, and distributing avocados in the United States and internationally. The company operates through two segments, Marketing and Distribution, and International Farming. It also provides value-added services, including ripening, bagging, custom packing, and logistical management.

Further Reading

Earnings History for Mission Produce (NASDAQ:AVO)

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