Mission Produce (NASDAQ:AVO) Major Shareholder Holdings Venture Globalharvest Buys 687,222 Shares

Mission Produce, Inc. (NASDAQ:AVO) major shareholder Holdings Venture Globalharvest acquired 687,222 shares of the business’s stock in a transaction that occurred on Wednesday, July 8th. The stock was bought at an average cost of $13.42 per share, for a total transaction of $9,222,519.24. Following the completion of the purchase, the insider directly owned 12,370,439 shares in the company, valued at $166,011,291.38. This represents a 5.88% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Large shareholders that own more than 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 Tuesday, July 7th, Holdings Venture Globalharvest bought 491,865 shares of Mission Produce stock. The shares were bought at an average cost of $13.40 per share, with a total value of $6,590,991.00.
• On Monday, July 6th, Holdings Venture Globalharvest purchased 650,415 shares of Mission Produce stock. The shares were bought at an average price of $12.73 per share, for a total transaction of $8,279,782.95.

Mission Produce Trading Down 1.1%

NASDAQ:AVO opened at $13.35 on Friday. Mission Produce, Inc. has a 12 month low of $10.07 and a 12 month high of $15.53. The firm has a market cap of $1.18 billion, a price-to-earnings ratio of 41.72 and a beta of 0.49. The company has a quick ratio of 1.12, a current ratio of 1.91 and a debt-to-equity ratio of 0.22. The company’s 50 day moving average is $12.01 and its 200-day moving average is $12.88.

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

Wall Street Analyst Weigh In

A number of research firms have issued reports on AVO. Weiss Ratings cut shares of Mission Produce from a “hold (c)” rating to a “hold (c-)” rating in a report on Tuesday, June 9th. 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 target price on Mission Produce in a research note on Wednesday, June 10th. Finally, Freedom Capital raised Mission Produce to a “strong-buy” rating in a report on Thursday, March 19th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $16.67.

Institutional Investors Weigh In On Mission Produce

A number of institutional investors have recently added to or reduced their stakes in AVO. AQR Capital Management LLC increased its stake in Mission Produce by 228.4% during the first quarter. AQR Capital Management LLC now owns 95,816 shares of the company’s stock valued at $1,004,000 after acquiring an additional 66,640 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of 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 in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of 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 worth $1,711,000 after purchasing an additional 15,076 shares in the last quarter. Jane Street Group LLC increased its position in shares of Mission Produce by 179.7% during the first 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 during the period. Finally, Acadian Asset Management LLC bought a new stake in shares of Mission Produce during the first quarter valued at approximately $581,000. 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.