Insider Buying: Mission Produce (NASDAQ:AVO) Major Shareholder Acquires 3,695 Shares of Stock

Mission Produce, Inc. (NASDAQ:AVO) major shareholder Holdings Venture Globalharvest acquired 3,695 shares of the stock in a transaction that occurred on Tuesday, March 17th. The shares were bought at an average price of $11.94 per share, for a total transaction of $44,118.30. Following the purchase, the insider directly owned 9,991,577 shares of the company’s stock, valued at approximately $119,299,429.38. This trade represents a 0.04% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Large shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

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

• On Thursday, January 22nd, Holdings Venture Globalharvest bought 71,750 shares of Mission Produce stock. The stock was purchased at an average price of $13.80 per share, with a total value of $990,150.00.
• On Wednesday, January 21st, Holdings Venture Globalharvest bought 237,270 shares of Mission Produce stock. The shares were acquired at an average cost of $12.92 per share, with a total value of $3,065,528.40.
• On Tuesday, January 20th, Holdings Venture Globalharvest bought 300,000 shares of Mission Produce stock. The shares were acquired at an average price of $12.50 per share, with a total value of $3,750,000.00.
• On Friday, January 16th, Holdings Venture Globalharvest purchased 324,295 shares of Mission Produce stock. The stock was acquired at an average price of $12.37 per share, for a total transaction of $4,011,529.15.
• On Thursday, January 15th, Holdings Venture Globalharvest acquired 985,704 shares of Mission Produce stock. The shares were bought at an average price of $11.76 per share, with a total value of $11,591,879.04.
• On Thursday, January 8th, Holdings Venture Globalharvest bought 13,683 shares of Mission Produce stock. The stock was bought at an average price of $11.96 per share, for a total transaction of $163,648.68.
• On Wednesday, January 7th, Holdings Venture Globalharvest bought 7,472 shares of Mission Produce stock. The shares were bought at an average cost of $11.61 per share, with a total value of $86,749.92.
• On Monday, December 29th, Holdings Venture Globalharvest purchased 59,761 shares of Mission Produce stock. The stock was bought at an average cost of $11.60 per share, for a total transaction of $693,227.60.
• On Friday, December 26th, Holdings Venture Globalharvest bought 13,679 shares of Mission Produce stock. The stock was purchased at an average price of $11.64 per share, for a total transaction of $159,223.56.
• On Wednesday, December 24th, Holdings Venture Globalharvest purchased 15,365 shares of Mission Produce stock. The shares were purchased at an average price of $11.60 per share, with a total value of $178,234.00.

Mission Produce Stock Up 2.7%

Mission Produce stock traded up $0.33 during mid-day trading on Wednesday, hitting $12.49. 1,618,787 shares of the company’s stock were exchanged, compared to its average volume of 708,047. The stock has a 50 day moving average of $13.46 and a two-hundred day moving average of $12.57. The company has a current ratio of 1.86, a quick ratio of 1.19 and a debt-to-equity ratio of 0.19. Mission Produce, Inc. has a 1-year low of $9.60 and a 1-year high of $15.02. The stock has a market cap of $884.92 million, a P/E ratio of 17.37 and a beta of 0.60.

Mission Produce (NASDAQ:AVO) last posted its earnings results on Thursday, March 12th. The company reported $0.10 earnings per share for the quarter, topping the consensus estimate of $0.07 by $0.03. Mission Produce had a return on equity of 8.24% and a net margin of 2.48%.The firm had revenue of $278.60 million during the quarter, compared to analyst estimates of $277.33 million. During the same period in the previous year, the company earned $0.10 EPS. The company’s revenue for the quarter was down 26.1% on a year-over-year basis. As a group, analysts anticipate that Mission Produce, Inc. will post 0.34 EPS for the current fiscal year.

Hedge Funds Weigh In On Mission Produce

Several large investors have recently added to or reduced their stakes in the company. American Century Companies Inc. grew its holdings in shares of 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 purchasing an additional 191,405 shares in the last quarter. Geode Capital Management LLC boosted its stake in Mission Produce by 11.7% during the second quarter. Geode Capital Management LLC now owns 1,183,208 shares of the company’s stock worth $13,869,000 after buying an additional 123,678 shares in the last quarter. Intech Investment Management LLC boosted its stake in Mission Produce by 17.9% during the second quarter. Intech Investment Management LLC now owns 32,865 shares of the company’s stock worth $385,000 after buying an additional 4,978 shares in the last quarter. Hussman Strategic Advisors Inc. bought a new stake in Mission Produce in the 3rd quarter valued at $505,000. Finally, Prudential Financial Inc. raised its stake in shares of Mission Produce by 47.8% in the 2nd quarter. Prudential Financial Inc. now owns 213,915 shares of the company’s stock valued at $2,507,000 after buying an additional 69,205 shares in the last quarter. Institutional investors and hedge funds own 63.57% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on AVO. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Mission Produce in a report on Wednesday, January 21st. Lake Street Capital restated a “buy” rating on shares of Mission Produce in a research note on Thursday, January 15th. Three investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, Mission Produce has an average rating of “Moderate Buy” and an average price target of $17.00.

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.