Mission Produce (NASDAQ:AVO) Major Shareholder Holdings Venture Globalharvest Buys 650,415 Shares of Stock

Mission Produce, Inc. (NASDAQ:AVO) major shareholder Holdings Venture Globalharvest bought 650,415 shares of the business’s stock in a transaction dated Monday, July 6th. The shares were bought at an average cost of $12.73 per share, for a total transaction of $8,279,782.95. Following the transaction, the insider owned 11,191,352 shares in the company, valued at approximately $142,465,910.96. The trade was a 6.17% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Mission Produce Stock Up 0.4%

Shares of AVO opened at $13.50 on Thursday. 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 business has a fifty day moving average of $12.02 and a 200 day moving average of $12.88. The company has a market cap of $1.19 billion, a PE ratio of 42.19 and a beta of 0.49. Mission Produce, Inc. has a 52-week low of $10.07 and a 52-week high of $15.53.

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

Analyst Ratings Changes

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

Hedge Funds Weigh In On Mission Produce

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Bank of America Corp DE raised its holdings in Mission Produce by 809.2% in the first quarter. Bank of America Corp DE now owns 444,135 shares of the company’s stock worth $6,111,000 after purchasing an additional 395,287 shares in the last quarter. RBF Capital LLC grew its position in Mission Produce by 40.3% during the 1st quarter. RBF Capital LLC now owns 104,410 shares of the company’s stock worth $1,437,000 after purchasing an additional 30,000 shares during the last quarter. Amundi acquired a new position in Mission Produce during the 1st quarter valued at approximately $192,000. Rubric Capital Management LP purchased a new position in shares of Mission Produce in the first quarter worth $23,756,000. Finally, Quantinno Capital Management LP lifted its stake in shares of Mission Produce by 437.3% during the first quarter. Quantinno Capital Management LP now owns 361,837 shares of the company’s stock worth $4,979,000 after buying an additional 294,494 shares during the period. 63.57% of the stock is currently owned by institutional investors.

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.