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

Partners Wealth Management LLC acquired a new position in shares of Mission Produce, Inc. (NASDAQ:AVO) in the 3rd quarter, according to its most recent filing with the SEC. The fund acquired 49,969 shares of the company’s stock, valued at approximately $655,000. Partners Wealth Management LLC owned approximately 0.06% of Mission Produce at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. BlackRock Inc. lifted its position in shares of Mission Produce by 36.9% in the second quarter. BlackRock Inc. now owns 4,775,250 shares of the company’s stock valued at $56,300,000 after acquiring an additional 1,286,263 shares in the last quarter. Fourth Sail Capital LP boosted its stake in shares of Mission Produce by 258.5% in the second quarter. Fourth Sail Capital LP now owns 3,976,272 shares of the company’s stock worth $46,880,000 after acquiring an additional 2,867,072 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Mission Produce by 12.4% during the first quarter. Dimensional Fund Advisors LP now owns 3,024,310 shares of the company’s stock worth $41,614,000 after purchasing an additional 334,629 shares in the last quarter. Rubric Capital Management LP purchased a new stake in shares of Mission Produce during the first quarter worth approximately $23,756,000. Finally, State Street Corp raised its stake in Mission Produce by 41.3% in the 2nd quarter. State Street Corp now owns 1,423,029 shares of the company’s stock valued at $16,778,000 after purchasing an additional 416,126 shares during the last quarter. Institutional investors and hedge funds own 63.57% of the company’s stock.

Mission Produce Trading Down 0.9%

Shares of Mission Produce stock opened at $11.50 on Friday. The stock has a market cap of $1.01 billion, a P/E ratio of 383.46 and a beta of 0.43. The stock’s 50 day simple moving average is $12.48 and its 200-day simple moving average is $12.88. Mission Produce, Inc. has a 1-year low of $10.07 and a 1-year high of $15.53. 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) last posted its quarterly earnings results on Tuesday, September 8th. The company reported $0.18 EPS for the quarter, beating 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 firm had revenue of $450.00 million during the quarter, compared to analysts’ expectations of $367.57 million. During the same quarter last year, the firm earned $0.26 earnings per share. The business’s revenue for the quarter was up 25.8% on a year-over-year basis. Analysts predict that Mission Produce, Inc. will post 0.61 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

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

Insiders Place Their Bets

In related news, Director Luis Gonzalez bought 29,996 shares of the company’s stock in a transaction on Friday, October 9th. The stock was bought at an average cost of $11.59 per share, for a total transaction of $347,653.64. Following the acquisition, the director directly owned 7,004,139 shares in the company, valued at $81,177,971.01. This represents a 0.43% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Chairman Stephen Barnard sold 111,358 shares of the company’s stock in a transaction on Monday, September 21st. The shares were sold at an average price of $13.01, for a total value of $1,448,767.58. Following the completion of the sale, the chairman owned 1,695,185 shares of the company’s stock, valued at approximately $22,054,356.85. The trade was a 6.16% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 250,062 shares of company stock worth $3,238,747 in the last three months. 30.85% of the stock is currently owned by corporate insiders.

Mission Produce 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.