49,969 Shares of Mission Produce, Inc. $AVO Purchased by Partners Wealth Management LLC

Partners Wealth Management LLC bought a new position in shares of Mission Produce, Inc. (NASDAQ:AVO) during the third quarter, Holdings Channel reports. The fund bought 49,969 shares of the company’s stock, valued at approximately $655,000.

Several other institutional investors and hedge funds also recently bought and sold shares of AVO. Pinnacle Associates Ltd. grew its stake in shares of Mission Produce by 11.7% in the 3rd quarter. Pinnacle Associates Ltd. now owns 42,521 shares of the company’s stock valued at $557,000 after buying an additional 4,460 shares during the period. State Street Corp raised its position in shares of Mission Produce by 41.3% during the 2nd quarter. State Street Corp now owns 1,423,029 shares of the company’s stock valued at $16,778,000 after buying an additional 416,126 shares during the period. The Manufacturers Life Insurance Company raised its position in shares of Mission Produce by 31.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 16,671 shares of the company’s stock valued at $197,000 after buying an additional 3,961 shares during the period. Capital Advantage Inc. purchased a new stake in shares of Mission Produce during the 2nd quarter valued at approximately $311,000. Finally, Squarepoint Ops LLC purchased a new stake in shares of Mission Produce during the 2nd quarter valued at approximately $2,836,000. 63.57% of the stock is currently owned by institutional investors and hedge funds.

Mission Produce Stock Down 0.9%

NASDAQ:AVO opened at $11.50 on Friday. The company has a quick ratio of 1.24, a current ratio of 1.92 and a debt-to-equity ratio of 0.52. The stock’s fifty day moving average is $12.48 and its two-hundred day moving average is $12.88. Mission Produce, Inc. has a 52 week low of $10.07 and a 52 week high of $15.53. The stock has a market capitalization of $1.01 billion, a price-to-earnings ratio of 383.46 and a beta of 0.43.

Mission Produce (NASDAQ:AVO) last released its quarterly earnings results on Tuesday, September 8th. The company reported $0.18 EPS for the quarter, topping the consensus estimate of $0.12 by $0.06. Mission Produce had a return on equity of 5.91% and a net margin of 0.12%. The business had revenue of $450.00 million during the quarter, compared to analyst estimates of $367.57 million. During the same period last year, the business posted $0.26 earnings per share. The company’s quarterly revenue was up 25.8% on a year-over-year basis. Research analysts anticipate that Mission Produce, Inc. will post 0.61 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts recently commented on AVO shares. Stephens reiterated an “overweight” rating and issued a $15.00 price objective on shares of Mission Produce in a report on Friday, October 9th. Weiss Ratings cut Mission Produce from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, October 23rd. Wall Street Zen upgraded Mission Produce from a “sell” rating to a “hold” rating in a research report on Saturday, September 12th. Roth Capital reaffirmed a “buy” rating and issued a $17.00 price target on shares of Mission Produce in a research note on Thursday, September 10th. Finally, Santander assumed coverage on Mission Produce in a research note on Wednesday, October 21st. They issued an “outperform” rating on the stock. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $16.00.

Insider Buying and Selling at Mission Produce

In other news, Director Luis A. Gonzalez bought 22,026 shares of the stock in a transaction that occurred on Monday, October 12th. The stock was bought at an average cost of $11.22 per share, for a total transaction of $247,131.72. Following the acquisition, the director directly owned 7,026,165 shares of the company’s stock, valued at $78,833,571.30. The trade was a 0.31% increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, Chairman Stephen J. Barnard sold 21,646 shares of the firm’s stock in a transaction dated Thursday, September 24th. The shares were sold at an average price of $13.00, for a total value of $281,398.00. Following the transaction, the chairman owned 1,684,794 shares of the company’s stock, valued at $21,902,322. This trade represents a 1.27% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 250,062 shares of company stock worth $3,238,747 in the last quarter. Company insiders own 30.85% of the company’s stock.

Mission Produce Company Profile

Mission Produce, Inc is an international avocado sourcing, production, packing, marketing and distribution company headquartered in Oxnard, California. The company supplies fresh avocados to retailers, foodservice operators and wholesale customers under the Mission brand and other customer-specific programs.

Mission Produce sources avocados from growing regions in North and South America and operates or partners with farming, packing and distribution operations in multiple countries. Its activities include fruit procurement, ripening, quality control, packaging, logistics and global marketing, helping customers receive avocados at different stages of ripeness.

In addition to avocados, the company participates in the mango category and markets related fresh-produce offerings in selected channels.