Insider Buying: Mission Produce (NASDAQ:AVO) Major Shareholder Buys 7,472 Shares of Stock

Mission Produce, Inc. (NASDAQ:AVO) major shareholder Holdings Venture Globalharvest acquired 7,472 shares of the firm’s stock in a transaction on Wednesday, January 7th. The shares were bought at an average cost of $11.61 per share, for a total transaction of $86,749.92. Following the completion of the acquisition, the insider directly owned 7,837,217 shares of the company’s stock, valued at approximately $90,990,089.37. This represents a 0.10% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Major 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 8th, Holdings Venture Globalharvest bought 13,683 shares of Mission Produce stock. The stock was bought at an average cost of $11.96 per share, with a total value of $163,648.68.
• On Monday, December 29th, Holdings Venture Globalharvest bought 59,761 shares of Mission Produce stock. The shares were bought at an average price 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 cost 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 stock was bought at an average price of $11.60 per share, for a total transaction of $178,234.00.
• On Tuesday, December 23rd, Holdings Venture Globalharvest acquired 112,505 shares of Mission Produce stock. The shares were bought at an average price of $11.61 per share, with a total value of $1,306,183.05.
• On Monday, November 10th, Holdings Venture Globalharvest bought 5,262 shares of Mission Produce stock. The stock was purchased at an average price of $12.46 per share, for a total transaction of $65,564.52.
• On Friday, November 7th, Holdings Venture Globalharvest bought 3,545 shares of Mission Produce stock. The stock was purchased at an average cost of $12.03 per share, for a total transaction 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, with a total value 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, with a total value of $9,172.80.
• On Tuesday, November 4th, Holdings Venture Globalharvest purchased 49,055 shares of Mission Produce stock. The stock was purchased at an average price of $11.69 per share, for a total transaction of $573,452.95.

Mission Produce Price Performance

Shares of NASDAQ AVO traded up $0.13 during mid-day trading on Friday, hitting $12.21. 368,490 shares of the stock were exchanged, compared to its average volume of 416,936. The company has a market cap of $861.66 million, a P/E ratio of 23.48 and a beta of 0.56. The stock’s fifty day simple moving average is $12.05 and its two-hundred day simple moving average is $12.14. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.35 and a current ratio of 1.95. Mission Produce, Inc. has a twelve month low of $9.56 and a twelve month high of $14.12.

Mission Produce (NASDAQ:AVO) last announced its earnings results on Thursday, December 18th. The company reported $0.22 EPS 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 analyst estimates of $301.60 million. Mission Produce had a return on equity of 8.18% and a net margin of 2.71%.The firm’s revenue was down 10.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.28 earnings per share. As a group, analysts forecast that Mission Produce, Inc. will post 0.34 EPS for the current fiscal year.

Institutional Investors Weigh In On Mission Produce

Several institutional investors have recently modified their holdings of the business. SG Americas Securities LLC raised its stake in shares of Mission Produce by 14.3% during the fourth quarter. SG Americas Securities LLC now owns 26,549 shares of the company’s stock worth $308,000 after buying an additional 3,323 shares during the last quarter. Diversified Trust Co. grew its holdings in Mission Produce by 14.2% during the 4th quarter. Diversified Trust Co. now owns 17,299 shares of the company’s stock worth $201,000 after acquiring an additional 2,150 shares during the period. GAMMA Investing LLC raised its position in shares of Mission Produce by 87.1% during the 4th quarter. GAMMA Investing LLC now owns 4,589 shares of the company’s stock valued at $53,000 after acquiring an additional 2,136 shares during the last quarter. Jacobs Levy Equity Management Inc. bought a new stake in shares of Mission Produce during the 3rd quarter valued at $629,000. Finally, PharVision Advisers LLC acquired a new position in shares of Mission Produce in the 3rd quarter valued at $210,000. Institutional investors and hedge funds own 63.57% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on AVO shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Mission Produce in a report on Wednesday, October 8th. Stephens started coverage on shares of Mission Produce in a research report on Friday, September 12th. They issued an “overweight” rating and a $17.00 price objective for the company. Finally, Zacks Research lowered shares of Mission Produce from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 10th. Two analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price 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.