Mission Produce (NASDAQ:AVO) Director Jay Pack Purchases 40,000 Shares

Mission Produce, Inc. (NASDAQ:AVO) Director Jay Pack acquired 40,000 shares of the firm’s stock in a transaction dated Tuesday, June 30th. The shares were purchased at an average cost of $12.10 per share, for a total transaction of $484,000.00. Following the completion of the acquisition, the director directly owned 579,965 shares in the company, valued at approximately $7,017,576.50. This represents a 7.41% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

Mission Produce Trading Down 2.2%

AVO stock opened at $11.79 on Wednesday. The firm has a fifty day moving average price of $12.11 and a 200 day moving average price of $12.88. Mission Produce, Inc. has a fifty-two week low of $10.07 and a fifty-two week high of $15.53. The firm has a market cap of $1.04 billion, a PE ratio of 36.84 and a beta of 0.50. 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 declared that its Board of Directors has approved a share repurchase program on Monday, June 8th that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the company to repurchase up to 13.8% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s leadership believes its stock is undervalued.

Hedge Funds Weigh In On Mission Produce

A number of institutional investors have recently modified their holdings of the stock. AQR Capital Management LLC boosted its holdings in shares of Mission Produce by 228.4% in the first quarter. AQR Capital Management LLC now owns 95,816 shares of the company’s stock valued at $1,004,000 after purchasing an additional 66,640 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Mission Produce by 4.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 25,825 shares of the company’s stock worth $271,000 after purchasing an additional 1,092 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Mission Produce by 10.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 163,304 shares of the company’s stock valued at $1,711,000 after purchasing an additional 15,076 shares in the last quarter. Jane Street Group LLC raised its position in Mission Produce by 179.7% during the 1st quarter. Jane Street Group LLC now owns 65,813 shares of the company’s stock valued at $690,000 after purchasing an additional 42,284 shares in the last quarter. Finally, Acadian Asset Management LLC purchased a new stake in shares of Mission Produce in the 1st quarter worth $581,000. 63.57% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

AVO has been the topic of several recent research reports. Wall Street Zen cut shares of Mission Produce from a “hold” rating to a “sell” rating in a research report on Saturday, June 13th. Weiss Ratings cut Mission Produce from a “hold (c)” rating to a “hold (c-)” rating in a report on Tuesday, June 9th. Freedom Capital upgraded Mission Produce to a “strong-buy” rating in a report on Thursday, March 19th. Finally, UBS Group set a $16.00 price objective on shares of Mission Produce in a research note on Wednesday, June 10th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, Mission Produce presently has a consensus rating of “Moderate Buy” and an average target price of $16.67.

About Mission Produce

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.