Mission Produce (NASDAQ:AVO) Coverage Initiated at Lake Street Capital

Lake Street Capital assumed coverage on shares of Mission Produce (NASDAQ:AVOFree Report) in a research report sent to investors on Friday morning, MarketBeat Ratings reports. The firm issued a buy rating and a $15.00 target price on the stock.

Mission Produce Stock Down 1.6 %

NASDAQ AVO opened at $12.66 on Friday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.47 and a current ratio of 2.27. The company has a market capitalization of $896.92 million, a P/E ratio of 158.25 and a beta of 0.50. Mission Produce has a one year low of $8.19 and a one year high of $13.99. The stock has a 50 day moving average price of $11.80 and a 200-day moving average price of $10.54.

Mission Produce (NASDAQ:AVOGet Free Report) last issued its quarterly earnings results on Monday, March 11th. The company reported $0.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.16. The company had revenue of $258.70 million during the quarter, compared to the consensus estimate of $188.40 million. Mission Produce had a return on equity of 3.98% and a net margin of 0.60%. As a group, equities analysts predict that Mission Produce will post 0.31 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Luis A. Gonzalez sold 27,422 shares of the firm’s stock in a transaction on Monday, May 13th. The stock was 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 $1,504,290. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Mission Produce news, Director Luis A. Gonzalez sold 27,422 shares of Mission Produce stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $12.23, for a total value of $335,371.06. Following the transaction, the director now owns 123,000 shares in the company, valued at $1,504,290. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Luis A. Gonzalez sold 42,008 shares of Mission Produce stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $12.07, for a total value of $507,036.56. Following the completion of the transaction, the director now owns 7,781,178 shares in the company, valued at approximately $93,918,818.46. The disclosure for this sale can be found here. Insiders have sold a total of 526,621 shares of company stock worth $6,177,782 over the last quarter. Company insiders own 41.60% of the company’s stock.

Institutional Investors Weigh In On Mission Produce

Several institutional investors have recently added to or reduced their stakes in AVO. Nuance Investments LLC raised its position in Mission Produce by 7.6% during the fourth quarter. Nuance Investments LLC now owns 4,621,456 shares of the company’s stock valued at $46,630,000 after acquiring an additional 327,889 shares in the last quarter. Vanguard Group Inc. raised its position in Mission Produce by 1.1% during the first quarter. Vanguard Group Inc. now owns 2,831,250 shares of the company’s stock valued at $33,607,000 after acquiring an additional 29,822 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in Mission Produce by 10.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 658,038 shares of the company’s stock valued at $6,640,000 after acquiring an additional 59,983 shares in the last quarter. Bank of New York Mellon Corp raised its position in Mission Produce by 7.1% during the third quarter. Bank of New York Mellon Corp now owns 399,344 shares of the company’s stock valued at $3,866,000 after acquiring an additional 26,312 shares in the last quarter. Finally, Buckingham Strategic Partners LLC purchased a new position in Mission Produce during the fourth quarter valued at approximately $3,952,000. Institutional investors and hedge funds own 63.57% of the company’s stock.

Mission Produce Company Profile

(Get Free Report)

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.

Further Reading

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