Insider Buying: Mission Produce (NASDAQ:AVO) Major Shareholder Purchases 59,761 Shares of Stock

Mission Produce, Inc. (NASDAQ:AVO) major shareholder Holdings Venture Globalharvest acquired 59,761 shares of the stock in a transaction on Monday, December 29th. The shares were bought at an average cost of $11.60 per share, for a total transaction of $693,227.60. Following the purchase, the insider directly owned 7,473,223 shares of the company’s stock, valued at $86,689,386.80. The trade was a 0.81% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

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

• On Friday, December 26th, Holdings Venture Globalharvest acquired 13,679 shares of Mission Produce stock. The shares were purchased at an average price of $11.64 per share, with a total value of $159,223.56.
• On Wednesday, December 24th, Holdings Venture Globalharvest purchased 15,365 shares of Mission Produce stock. The stock was purchased at an average cost of $11.60 per share, with a total value of $178,234.00.
• On Tuesday, December 23rd, Holdings Venture Globalharvest acquired 112,505 shares of Mission Produce stock. The stock was purchased at an average price of $11.61 per share, for a total transaction of $1,306,183.05.
• On Monday, November 10th, Holdings Venture Globalharvest bought 5,262 shares of Mission Produce stock. The shares were purchased at an average cost of $12.46 per share, for a total transaction of $65,564.52.
• On Friday, November 7th, Holdings Venture Globalharvest bought 3,545 shares of Mission Produce stock. The stock was purchased at an average cost of $12.03 per share, with a total value of $42,646.35.
• On Thursday, November 6th, Holdings Venture Globalharvest purchased 72,165 shares of Mission Produce stock. The shares were acquired at an average cost of $11.94 per share, for a total transaction of $861,650.10.
• On Wednesday, November 5th, Holdings Venture Globalharvest bought 784 shares of Mission Produce stock. The shares were acquired at an average price of $11.70 per share, for a total transaction of $9,172.80.
• On Tuesday, November 4th, Holdings Venture Globalharvest bought 49,055 shares of Mission Produce stock. The shares were purchased at an average price of $11.69 per share, with a total value of $573,452.95.

Mission Produce Stock Performance

Shares of NASDAQ AVO traded up $0.01 during trading hours on Tuesday, reaching $11.60. The stock had a trading volume of 627,665 shares, compared to its average volume of 528,352. The company has a current ratio of 1.95, a quick ratio of 1.35 and a debt-to-equity ratio of 0.19. The firm has a market cap of $818.61 million, a price-to-earnings ratio of 22.31 and a beta of 0.58. Mission Produce, Inc. has a fifty-two week low of $9.56 and a fifty-two week high of $14.50. The firm has a 50-day moving average of $12.04 and a 200-day moving average of $12.17.

Mission Produce (NASDAQ:AVO) last issued its quarterly earnings results on Thursday, December 18th. The company reported $0.22 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.01). Mission Produce had a return on equity of 8.18% and a net margin of 2.71%.The company had revenue of $319.00 million for the quarter, compared to analyst estimates of $301.60 million. During the same period in the prior year, the business earned $0.28 earnings per share. Mission Produce’s revenue for the quarter was down 10.0% compared to the same quarter last year. Equities research analysts predict that Mission Produce, Inc. will post 0.34 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have weighed in on AVO shares. Roth Capital upped their target price on Mission Produce from $16.00 to $17.00 and gave the company a “buy” rating in a report on Tuesday, September 9th. Stephens assumed coverage on shares of Mission Produce in a report on Friday, September 12th. They set an “overweight” rating and a $17.00 price target for the company. Weiss Ratings reissued a “hold (c)” rating on shares of Mission Produce in a research note on Wednesday, October 8th. Finally, Zacks Research lowered shares of Mission Produce from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 10th. Two research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $17.00.

Institutional Investors Weigh In On Mission Produce

Several hedge funds have recently modified their holdings of the stock. Dimensional Fund Advisors LP lifted its stake in shares of Mission Produce by 6.6% in the third quarter. Dimensional Fund Advisors LP now owns 2,570,868 shares of the company’s stock worth $30,901,000 after acquiring an additional 159,726 shares in the last quarter. Geode Capital Management LLC boosted its stake in Mission Produce by 11.7% during the 2nd quarter. Geode Capital Management LLC now owns 1,183,208 shares of the company’s stock valued at $13,869,000 after acquiring an additional 123,678 shares during the last quarter. American Century Companies Inc. grew its holdings in Mission Produce by 28.6% during the 2nd quarter. American Century Companies Inc. now owns 861,139 shares of the company’s stock worth $10,093,000 after acquiring an additional 191,405 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its position in shares of Mission Produce by 174.9% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 366,957 shares of the company’s stock worth $4,411,000 after purchasing an additional 233,447 shares during the last quarter. Finally, Invesco Ltd. lifted its position in shares of Mission Produce by 287.6% during the second quarter. Invesco Ltd. now owns 360,863 shares of the company’s stock worth $4,229,000 after purchasing an additional 267,752 shares during the last quarter. 63.57% of the stock is owned by institutional investors and hedge funds.

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.