Mission Produce (NASDAQ:AVO) Major Shareholder Holdings Venture Globalharvest Acquires 112,505 Shares

Mission Produce, Inc. (NASDAQ:AVO) major shareholder Holdings Venture Globalharvest acquired 112,505 shares of Mission Produce stock in a transaction dated Tuesday, December 23rd. The stock was bought at an average price of $11.61 per share, with a total value of $1,306,183.05. Following the completion of the purchase, the insider directly owned 7,384,418 shares in the company, valued at $85,733,092.98. This represents a 1.55% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Major shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

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

• On Monday, December 29th, Holdings Venture Globalharvest purchased 59,761 shares of Mission Produce stock. The shares were bought at an average cost of $11.60 per share, with a total value of $693,227.60.
• On Friday, December 26th, Holdings Venture Globalharvest purchased 13,679 shares of Mission Produce stock. The stock was bought at an average price of $11.64 per share, with a total value of $159,223.56.
• On Wednesday, December 24th, Holdings Venture Globalharvest acquired 15,365 shares of Mission Produce stock. The stock was bought at an average cost of $11.60 per share, for a total transaction of $178,234.00.
• On Monday, November 10th, Holdings Venture Globalharvest acquired 5,262 shares of Mission Produce stock. The shares were bought at an average cost of $12.46 per share, for a total transaction of $65,564.52.
• On Friday, November 7th, Holdings Venture Globalharvest acquired 3,545 shares of Mission Produce stock. The shares were bought at an average price of $12.03 per share, with a total value of $42,646.35.
• On Thursday, November 6th, Holdings Venture Globalharvest bought 72,165 shares of Mission Produce stock. The shares were purchased at an average price of $11.94 per share, for a total transaction of $861,650.10.
• On Wednesday, November 5th, Holdings Venture Globalharvest purchased 784 shares of Mission Produce stock. The shares were purchased at an average cost of $11.70 per share, for a total transaction of $9,172.80.
• On Tuesday, November 4th, Holdings Venture Globalharvest acquired 49,055 shares of Mission Produce stock. The shares were purchased at an average price of $11.69 per share, for a total transaction of $573,452.95.

Mission Produce Price Performance

Mission Produce stock traded up $0.01 during mid-day trading on Tuesday, hitting $11.60. The stock had a trading volume of 627,665 shares, compared to its average volume of 528,352. The firm’s 50 day moving average is $12.04 and its 200 day moving average is $12.17. Mission Produce, Inc. has a one year low of $9.56 and a one year high of $14.50. The firm has a market capitalization of $818.61 million, a P/E ratio of 22.31 and a beta of 0.58. The company has a current ratio of 1.95, a quick ratio of 1.35 and a debt-to-equity ratio of 0.19.

Mission Produce (NASDAQ:AVO) last posted 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). The business had revenue of $319.00 million during the quarter, compared to the consensus estimate of $301.60 million. Mission Produce had a return on equity of 8.18% and a net margin of 2.71%.The company’s revenue for the quarter was down 10.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.28 earnings per share. On average, sell-side analysts forecast that Mission Produce, Inc. will post 0.34 earnings per share for the current fiscal year.

Institutional Trading of Mission Produce

Several institutional investors have recently added to or reduced their stakes in AVO. Jacobs Levy Equity Management Inc. bought a new position in shares of Mission Produce during the third quarter valued at approximately $629,000. PharVision Advisers LLC bought a new stake in shares of Mission Produce during the 3rd quarter worth approximately $210,000. Virtus Advisers LLC purchased a new position in Mission Produce during the 3rd quarter valued at $95,000. Quarry LP bought a new position in Mission Produce in the 3rd quarter valued at $29,000. Finally, Qube Research & Technologies Ltd grew its position in Mission Produce by 27.2% in the 3rd quarter. Qube Research & Technologies Ltd now owns 342,264 shares of the company’s stock valued at $4,114,000 after acquiring an additional 73,223 shares during the last quarter. Institutional investors own 63.57% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on AVO shares. Weiss Ratings reissued a “hold (c)” rating on shares of Mission Produce in a research note on Wednesday, October 8th. Roth Capital increased their target price on Mission Produce from $16.00 to $17.00 and gave the company a “buy” rating in a research report on Tuesday, September 9th. Zacks Research downgraded shares of Mission Produce from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 10th. Finally, Stephens began coverage on shares of Mission Produce in a research note on Friday, September 12th. They issued an “overweight” rating and a $17.00 price objective for the company. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $17.00.

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.