Platform Wealth Management LLC Invests $12.13 Million in Mission Produce, Inc. $AVO

Platform Wealth Management LLC purchased a new stake in Mission Produce, Inc. (NASDAQ:AVO) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm purchased 1,045,703 shares of the company’s stock, valued at approximately $12,130,000. Mission Produce makes up about 3.2% of Platform Wealth Management LLC’s investment portfolio, making the stock its 9th biggest holding.

Several other hedge funds and other institutional investors have also recently made changes to their positions in AVO. Goldman Sachs Group Inc. boosted its holdings in Mission Produce by 26.9% during the fourth quarter. Goldman Sachs Group Inc. now owns 510,340 shares of the company’s stock worth $5,920,000 after buying an additional 108,124 shares in the last quarter. Geode Capital Management LLC increased its holdings in Mission Produce by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 1,048,598 shares of the company’s stock valued at $12,166,000 after buying an additional 3,744 shares in the last quarter. Leonteq Securities AG purchased a new position in Mission Produce in the fourth quarter valued at about $31,000. UBS Group AG lifted its position in shares of Mission Produce by 18.6% during the 4th quarter. UBS Group AG now owns 247,826 shares of the company’s stock valued at $2,875,000 after acquiring an additional 38,875 shares during the period. Finally, Wedge Capital Management L L P NC lifted its position in shares of Mission Produce by 1.0% during the 4th quarter. Wedge Capital Management L L P NC now owns 100,025 shares of the company’s stock valued at $1,160,000 after acquiring an additional 958 shares during the period. Institutional investors and hedge funds own 63.57% of the company’s stock.

Mission Produce Stock Performance

Shares of AVO opened at $11.08 on Thursday. The company has a current ratio of 1.86, a quick ratio of 1.19 and a debt-to-equity ratio of 0.19. The stock has a market cap of $785.02 million, a P/E ratio of 24.09 and a beta of 0.50. The company has a 50-day moving average of $13.20 and a two-hundred day moving average of $12.95. Mission Produce, Inc. has a 12-month low of $10.08 and a 12-month high of $15.53.

Mission Produce (NASDAQ:AVO) last released its quarterly earnings results on Thursday, March 12th. The company reported $0.10 EPS for the quarter, beating the consensus estimate of $0.07 by $0.03. Mission Produce had a net margin of 2.48% and a return on equity of 8.24%. The business had revenue of $278.60 million for the quarter, compared to analyst estimates of $277.33 million. During the same period in the prior year, the business earned $0.10 earnings per share. The company’s quarterly revenue was down 26.1% on a year-over-year basis. As a group, research analysts predict that Mission Produce, Inc. will post 0.6 EPS for the current fiscal year.

Insider Buying and Selling

In related news, major shareholder Holdings Venture Globalharvest purchased 3,695 shares of the company’s stock in a transaction on Tuesday, March 17th. The stock was bought at an average price of $11.94 per share, with a total value of $44,118.30. Following the completion of the transaction, the insider owned 9,991,577 shares of the company’s stock, valued at approximately $119,299,429.38. This represents a 0.04% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 30.85% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on AVO. Freedom Capital upgraded Mission Produce to a “strong-buy” rating in a report on Thursday, March 19th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Mission Produce in a report on Monday, April 20th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $17.00.

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.