Bryan Giles Sells 5,000 Shares of Mission Produce (NASDAQ:AVO) Stock

Mission Produce, Inc. (NASDAQ:AVO) CFO Bryan Giles sold 5,000 shares of the stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $12.13, for a total transaction of $60,650.00. Following the transaction, the chief financial officer directly owned 146,931 shares in the company, valued at $1,782,273.03. The trade was a 3.29% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Mission Produce Stock Down 2.2%

Shares of Mission Produce stock opened at $11.79 on Wednesday. The company has a quick ratio of 1.12, a current ratio of 1.91 and a debt-to-equity ratio of 0.22. The firm has a market cap of $1.04 billion, a P/E ratio of 36.84 and a beta of 0.50. Mission Produce, Inc. has a fifty-two week low of $10.07 and a fifty-two week high of $15.53. The business has a 50-day moving average price of $12.11 and a 200 day moving average price of $12.88.

Mission Produce announced that its board has initiated a stock buyback plan on Monday, June 8th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 13.8% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s management believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the stock. UBS Group set a $16.00 price target on shares of Mission Produce in a report on Wednesday, June 10th. Wall Street Zen cut shares of Mission Produce from a “hold” rating to a “sell” rating in a report on Saturday, June 13th. Weiss Ratings downgraded Mission Produce from a “hold (c)” rating to a “hold (c-)” rating in a research note on Tuesday, June 9th. Finally, Freedom Capital raised Mission Produce to a “strong-buy” rating in a report on Thursday, March 19th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $16.67.

Institutional Investors Weigh In On Mission Produce

Large investors have recently made changes to their positions in the company. Platform Wealth Management LLC bought a new stake in Mission Produce during the fourth quarter worth approximately $12,130,000. Quantbot Technologies LP increased its position in shares of Mission Produce by 1,889.0% during the 3rd quarter. Quantbot Technologies LP now owns 39,979 shares of the company’s stock valued at $481,000 after purchasing an additional 37,969 shares during the period. OP Asset Management Ltd acquired a new position in shares of Mission Produce during the 1st quarter valued at $1,404,000. Fourth Sail Capital LP bought a new stake in shares of Mission Produce in the 4th quarter worth $725,000. Finally, Inspire Investing LLC raised its stake in shares of Mission Produce by 312.3% in the 1st quarter. Inspire Investing LLC now owns 167,220 shares of the company’s stock worth $2,301,000 after buying an additional 126,658 shares in the last quarter. Institutional investors and hedge funds own 63.57% of the company’s stock.

About Mission Produce

Mission Produce, Inc is a leading global supplier, packer and distributor of fresh avocados, serving retail, foodservice and industrial customers. The company manages a vertically integrated supply chain that spans sourcing, post-harvest handling, packing and ripening. Through proprietary ripening technologies and cold-chain logistics, Mission Produce delivers consistent quality and extended shelf life for its avocado offerings.

Founded in 1983 and headquartered in Oxnard, California, Mission Produce grew from a regional packing operation into a publicly traded company listed on the Nasdaq under the ticker AVO.