Mission Produce (NASDAQ:AVO) Major Shareholder Acquires $11,591,879.04 in Stock

Mission Produce, Inc. (NASDAQ:AVO) major shareholder Holdings Venture Globalharvest bought 985,704 shares of Mission Produce stock in a transaction that occurred on Thursday, January 15th. The stock was bought at an average cost of $11.76 per share, with a total value of $11,591,879.04. Following the completion of the purchase, the insider owned 8,837,286 shares in the company, valued at approximately $103,926,483.36. This trade represents a 12.55% increase in their position. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Large shareholders that own at least 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 Thursday, January 8th, Holdings Venture Globalharvest acquired 13,683 shares of Mission Produce stock. The stock was bought at an average price of $11.96 per share, with a total value of $163,648.68.
• On Wednesday, January 7th, Holdings Venture Globalharvest purchased 7,472 shares of Mission Produce stock. The shares were purchased at an average cost of $11.61 per share, for a total transaction of $86,749.92.
• On Monday, December 29th, Holdings Venture Globalharvest bought 59,761 shares of Mission Produce stock. The shares were acquired at an average cost of $11.60 per share, for a total transaction of $693,227.60.
• On Friday, December 26th, Holdings Venture Globalharvest acquired 13,679 shares of Mission Produce stock. The shares were 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 acquired at an average price of $11.60 per share, with a total value of $178,234.00.
• On Tuesday, December 23rd, Holdings Venture Globalharvest bought 112,505 shares of Mission Produce stock. The shares were bought at an average cost of $11.61 per share, for a total transaction of $1,306,183.05.
• On Monday, November 10th, Holdings Venture Globalharvest bought 5,262 shares of Mission Produce stock. The stock was bought at an average cost of $12.46 per share, with a total value of $65,564.52.
• On Friday, November 7th, Holdings Venture Globalharvest purchased 3,545 shares of Mission Produce stock. The shares were acquired at an average price of $12.03 per share, for a total transaction of $42,646.35.
• On Thursday, November 6th, Holdings Venture Globalharvest acquired 72,165 shares of Mission Produce stock. The stock was purchased at an average cost 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 stock was acquired at an average cost of $11.70 per share, for a total transaction of $9,172.80.

Mission Produce Stock Up 0.9%

Shares of AVO traded up $0.11 during trading hours on Tuesday, hitting $12.55. The stock had a trading volume of 1,217,274 shares, compared to its average volume of 654,971. Mission Produce, Inc. has a 1-year low of $9.56 and a 1-year high of $14.12. The firm has a market capitalization of $885.65 million, a P/E ratio of 24.14 and a beta of 0.56. The firm has a 50 day simple moving average of $12.11 and a 200-day simple moving average of $12.17. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.95 and a quick ratio of 1.35.

Mission Produce (NASDAQ:AVO) last announced its quarterly earnings results on Thursday, December 18th. The company reported $0.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.01). The firm 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 firm’s revenue was down 10.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.28 EPS. Sell-side analysts predict that Mission Produce, Inc. will post 0.34 EPS for the current fiscal year.

Analysts Set New Price Targets

AVO has been the topic of a number of recent research reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Mission Produce in a research note on Wednesday, October 8th. Lake Street Capital restated a “buy” rating on shares of Mission Produce in a report on Thursday, January 15th. Finally, Zacks Research downgraded Mission Produce from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 10th. Three analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $17.00.

Hedge Funds Weigh In On Mission Produce

Several institutional investors have recently added to or reduced their stakes in the stock. AQR Capital Management LLC lifted its position in shares of Mission Produce by 228.4% during the first quarter. AQR Capital Management LLC now owns 95,816 shares of the company’s stock worth $1,004,000 after acquiring an additional 66,640 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Mission Produce by 4.4% during the first 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 last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Mission Produce by 10.2% in the first 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 buying an additional 15,076 shares in the last quarter. Jane Street Group LLC raised its position in Mission Produce by 179.7% in the 1st quarter. Jane Street Group LLC now owns 65,813 shares of the company’s stock worth $690,000 after purchasing an additional 42,284 shares during the period. Finally, Acadian Asset Management LLC purchased a new stake in Mission Produce during the 1st quarter valued at about $581,000. Institutional investors own 63.57% of the company’s stock.

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.