Mission Produce (NASDAQ:AVO) Major Shareholder Holdings Venture Globalharvest Acquires 491,865 Shares

Mission Produce, Inc. (NASDAQ:AVO) major shareholder Holdings Venture Globalharvest bought 491,865 shares of the company’s stock in a transaction dated Tuesday, July 7th. The stock was bought at an average cost of $13.40 per share, with a total value of $6,590,991.00. Following the acquisition, the insider directly owned 11,683,217 shares of the company’s stock, valued at approximately $156,555,107.80. The trade was a 4.40% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Holdings Venture Globalharvest also recently made the following trade(s):

• On Wednesday, July 8th, Holdings Venture Globalharvest purchased 687,222 shares of Mission Produce stock. The stock was bought at an average price of $13.42 per share, for a total transaction of $9,222,519.24.
• On Monday, July 6th, Holdings Venture Globalharvest purchased 650,415 shares of Mission Produce stock. The shares were bought at an average cost of $12.73 per share, for a total transaction of $8,279,782.95.

Mission Produce Price Performance

AVO stock opened at $13.35 on Friday. The company has a 50 day simple moving average of $12.01 and a 200 day simple moving average of $12.88. The stock has a market cap of $1.18 billion, a price-to-earnings ratio of 41.72 and a beta of 0.49. Mission Produce, Inc. has a 1 year low of $10.07 and a 1 year high of $15.53. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.91 and a quick ratio of 1.12.

Mission Produce announced that its Board of Directors has authorized a share repurchase plan on Monday, June 8th that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the company to buy up to 13.8% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Weiss Ratings downgraded Mission Produce from a “hold (c)” rating to a “hold (c-)” rating in a report on Tuesday, June 9th. UBS Group set a $16.00 target price on Mission Produce in a report on Wednesday, June 10th. Wall Street Zen downgraded Mission Produce from a “hold” rating to a “sell” rating in a research report on Saturday, June 13th. Finally, Freedom Capital raised Mission Produce to a “strong-buy” rating in a research note on Thursday, March 19th. One equities 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. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $16.67.

Hedge Funds Weigh In On Mission Produce

Several large investors have recently modified their holdings of AVO. Quarry LP acquired a new position in shares of Mission Produce during the third quarter worth $29,000. Leonteq Securities AG acquired a new stake in Mission Produce in the fourth quarter valued at $31,000. GAMMA Investing LLC increased its holdings in Mission Produce by 87.1% in the fourth quarter. GAMMA Investing LLC now owns 4,589 shares of the company’s stock valued at $53,000 after purchasing an additional 2,136 shares during the period. Tower Research Capital LLC TRC raised its position in Mission Produce by 211.8% during the 2nd quarter. Tower Research Capital LLC TRC now owns 4,649 shares of the company’s stock worth $54,000 after purchasing an additional 3,158 shares during the last quarter. Finally, Public Employees Retirement System of Ohio lifted its holdings in Mission Produce by 466.0% during the 4th quarter. Public Employees Retirement System of Ohio now owns 7,035 shares of the company’s stock worth $82,000 after buying an additional 5,792 shares during the period. Institutional investors 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.