Nuance Investments LLC Has $5.91 Million Holdings in Mission Produce, Inc. $AVO

Nuance Investments LLC boosted its stake in shares of Mission Produce, Inc. (NASDAQ:AVO) by 66.2% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 501,087 shares of the company’s stock after acquiring an additional 199,511 shares during the quarter. Mission Produce makes up approximately 1.0% of Nuance Investments LLC’s holdings, making the stock its 26th biggest holding. Nuance Investments LLC owned about 0.57% of Mission Produce worth $5,908,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Quarry LP bought a new position in shares of Mission Produce in the 3rd quarter worth $29,000. Leonteq Securities AG acquired a new position in shares of Mission Produce during the fourth quarter worth about $31,000. Tower Research Capital LLC TRC raised its holdings in shares of Mission Produce by 211.8% in the second quarter. Tower Research Capital LLC TRC now owns 4,649 shares of the company’s stock valued at $54,000 after purchasing an additional 3,158 shares during the last quarter. Public Employees Retirement System of Ohio lifted its position 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 in the last quarter. Finally, Virtus Advisers LLC acquired a new position in Mission Produce during the third quarter valued at approximately $95,000. Institutional investors own 63.57% of the company’s stock.

Insider Transactions at Mission Produce

In other Mission Produce news, Director Bruce C. Taylor purchased 300,000 shares of Mission Produce stock in a transaction that occurred on Monday, June 15th. The stock was acquired at an average price of $11.29 per share, with a total value of $3,387,000.00. Following the transaction, the director owned 455,842 shares in the company, valued at $5,146,456.18. This trade represents a 192.50% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jay A. Pack purchased 40,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 30th. The stock was acquired at an average cost of $12.10 per share, for a total transaction of $484,000.00. Following the transaction, the director owned 579,965 shares in the company, valued at $7,017,576.50. This represents a 7.41% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have purchased 3,352,161 shares of company stock valued at $42,458,664 in the last 90 days. 30.85% of the stock is currently owned by corporate insiders.

Mission Produce Price Performance

Shares of AVO opened at $12.95 on Tuesday. The firm has a market cap of $1.14 billion, a PE ratio of 40.47 and a beta of 0.49. 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 price is $12.48 and its two-hundred day moving average price is $13.01. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.12 and a current ratio of 1.91.

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

Analyst Ratings Changes

A number of analysts have recently issued reports on AVO shares. Wall Street Zen cut 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 Mission Produce in a research note on Wednesday, June 10th. Finally, Weiss Ratings cut shares of Mission Produce from a “hold (c)” rating to a “hold (c-)” rating in a research note on Tuesday, June 9th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, Mission Produce has a consensus rating of “Moderate Buy” and a consensus target price of $16.67.

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.