Mission Produce, Inc. $AVO Shares Acquired by Inspire Investing LLC

Inspire Investing LLC grew its stake in Mission Produce, Inc. (NASDAQ:AVO) by 312.3% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 167,220 shares of the company’s stock after purchasing an additional 126,658 shares during the period. Inspire Investing LLC’s holdings in Mission Produce were worth $2,301,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Platform Wealth Management LLC purchased a new position in Mission Produce during the fourth quarter worth approximately $12,130,000. Invesco Ltd. increased its stake in shares of Mission Produce by 287.6% in the 2nd quarter. Invesco Ltd. now owns 360,863 shares of the company’s stock worth $4,229,000 after acquiring an additional 267,752 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its stake in shares of Mission Produce by 174.9% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 366,957 shares of the company’s stock worth $4,411,000 after acquiring an additional 233,447 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Mission Produce by 6.6% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,570,868 shares of the company’s stock worth $30,901,000 after acquiring an additional 159,726 shares during the period. Finally, ExodusPoint Capital Management LP purchased a new position in shares of Mission Produce during the 4th quarter worth $1,343,000. Institutional investors and hedge funds own 63.57% of the company’s stock.

Insider Buying and Selling

In other Mission Produce news, CFO Bryan E. Giles sold 5,000 shares of the stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $12.13, for a total transaction of $60,650.00. Following the completion of the transaction, the chief financial officer owned 146,931 shares of the company’s stock, valued at $1,782,273.03. This trade represents a 3.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Bruce C. Taylor purchased 70,283 shares of the company’s stock in a transaction on Tuesday, June 23rd. The shares were bought at an average price of $11.25 per share, with a total value of $790,683.75. Following the completion of the transaction, the director owned 855,842 shares of the company’s stock, valued at approximately $9,628,222.50. The trade was a 8.95% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last ninety days, insiders acquired 929,702 shares of company stock valued at $10,490,901. 30.85% of the stock is currently owned by insiders.

Mission Produce Price Performance

NASDAQ:AVO opened at $11.79 on Wednesday. Mission Produce, Inc. has a 52 week low of $10.07 and a 52 week high of $15.53. The stock’s fifty day moving average is $12.11 and its two-hundred day moving average is $12.88. The company has a market capitalization of $1.04 billion, a P/E ratio of 36.84 and a beta of 0.50. The company has a quick ratio of 1.12, a current ratio of 1.91 and a debt-to-equity ratio of 0.22.

Mission Produce announced that its board has authorized a stock buyback plan on Monday, June 8th that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the company to buy up to 13.8% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its shares are undervalued.

Analyst Ratings Changes

A number of brokerages recently issued reports on AVO. UBS Group set a $16.00 price objective on shares of Mission Produce in a report on Wednesday, June 10th. Wall Street Zen downgraded shares of Mission Produce from a “hold” rating to a “sell” rating in a research note on Saturday, June 13th. Weiss Ratings lowered shares of Mission Produce from a “hold (c)” rating to a “hold (c-)” rating in a report on Tuesday, June 9th. Finally, Freedom Capital raised shares of Mission Produce to a “strong-buy” rating in a research note on Thursday, March 19th. 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 company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $16.67.

Mission Produce 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.