Mission Produce, Inc. $AVO Shares Sold by Hsbc Holdings PLC

Hsbc Holdings PLC trimmed its stake in shares of Mission Produce, Inc. (NASDAQ:AVO) by 64.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,533 shares of the company’s stock after selling 33,923 shares during the quarter. Hsbc Holdings PLC’s holdings in Mission Produce were worth $192,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of AVO. PNC Financial Services Group Inc. boosted its position in shares of Mission Produce by 123.1% during the 1st quarter. PNC Financial Services Group Inc. now owns 2,950 shares of the company’s stock worth $31,000 after acquiring an additional 1,628 shares in the last quarter. Ameriflex Group Inc. acquired a new position in shares of Mission Produce during the 4th quarter worth about $57,000. State of Wyoming acquired a new position in shares of Mission Produce during the 4th quarter worth about $63,000. Diversified Trust Co acquired a new position in shares of Mission Produce during the 1st quarter worth about $137,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Mission Produce during the 1st quarter worth about $144,000. 63.57% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Zacks Research cut Mission Produce from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 26th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $15.50.

Insider Buying and Selling

In other Mission Produce news, CFO Bryan E. Giles sold 3,500 shares of the company’s stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $11.43, for a total transaction of $40,005.00. Following the completion of the sale, the chief financial officer directly owned 131,062 shares of the company’s stock, valued at $1,498,038.66. This represents a 2.60% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 35.41% of the stock is currently owned by corporate insiders.

Mission Produce Stock Up 1.4%

Shares of NASDAQ AVO opened at $12.63 on Friday. The stock has a market cap of $891.93 million, a PE ratio of 25.26 and a beta of 0.57. The company has a quick ratio of 1.23, a current ratio of 1.98 and a debt-to-equity ratio of 0.29. Mission Produce, Inc. has a 52-week low of $9.56 and a 52-week high of $15.25. The business has a 50-day moving average price of $12.29 and a 200 day moving average price of $11.36.

Mission Produce (NASDAQ:AVO) last announced its earnings results on Thursday, June 5th. The company reported $0.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.03 by $0.09. The firm had revenue of $380.30 million during the quarter, compared to analysts’ expectations of $296.15 million. Mission Produce had a return on equity of 7.82% and a net margin of 2.63%.The business’s revenue was up 27.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.14 EPS. Equities research analysts forecast that Mission Produce, Inc. will post 0.34 earnings per share for the current year.

Mission Produce Company Profile

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.