Mission Produce (NASDAQ:AVO) Director Bruce Taylor Buys 29,717 Shares of Stock

Mission Produce, Inc. (NASDAQ:AVO) Director Bruce Taylor acquired 29,717 shares of the stock in a transaction that occurred on Monday, June 22nd. The shares were bought at an average cost of $11.36 per share, with a total value of $337,585.12. Following the transaction, the director directly owned 785,559 shares in the company, valued at $8,923,950.24. This trade represents a 3.93% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link.

Mission Produce Stock Up 2.8%

Shares of NASDAQ AVO opened at $11.71 on Wednesday. The firm has a market cap of $1.03 billion, a price-to-earnings ratio of 36.59 and a beta of 0.50. The company has a quick ratio of 1.12, a current ratio of 1.91 and a debt-to-equity ratio of 0.22. Mission Produce, Inc. has a 52-week low of $10.07 and a 52-week high of $15.53. The business’s 50 day moving average is $12.34 and its two-hundred day moving average is $12.88.

Mission Produce declared that its board has approved a stock repurchase program on Monday, June 8th that permits the company to buyback $100.00 million in shares. This buyback authorization permits the company to purchase up to 13.8% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on AVO. Weiss Ratings downgraded Mission Produce from a “hold (c)” rating to a “hold (c-)” rating in a report on Tuesday, June 9th. Wall Street Zen downgraded Mission Produce from a “hold” rating to a “sell” rating in a research report on Saturday, June 13th. UBS Group set a $16.00 price objective on shares of Mission Produce in a research note on Wednesday, June 10th. Finally, Freedom Capital upgraded shares of Mission Produce to a “strong-buy” rating in a report on Thursday, March 19th. One 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 company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $16.67.

Institutional Investors Weigh In On Mission Produce

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

Mission Produce Company Profile

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.