Platform Wealth Management LLC Purchases New Shares in Mission Produce, Inc. $AVO

Platform Wealth Management LLC acquired a new stake in Mission Produce, Inc. (NASDAQ:AVO) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,045,703 shares of the company’s stock, valued at approximately $12,130,000. Mission Produce accounts for 3.2% of Platform Wealth Management LLC’s investment portfolio, making the stock its 9th biggest position. Platform Wealth Management LLC owned about 1.48% of Mission Produce as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also made changes to their positions in AVO. Goldman Sachs Group Inc. grew its holdings in shares of Mission Produce by 26.9% during the fourth quarter. Goldman Sachs Group Inc. now owns 510,340 shares of the company’s stock worth $5,920,000 after buying an additional 108,124 shares during the last quarter. Geode Capital Management LLC raised its stake in Mission Produce by 0.4% during the 4th quarter. Geode Capital Management LLC now owns 1,048,598 shares of the company’s stock valued at $12,166,000 after acquiring an additional 3,744 shares during the last quarter. Leonteq Securities AG purchased a new stake in Mission Produce during the 4th quarter valued at approximately $31,000. UBS Group AG lifted its position in Mission Produce by 18.6% during the 4th quarter. UBS Group AG now owns 247,826 shares of the company’s stock worth $2,875,000 after acquiring an additional 38,875 shares during the period. Finally, Wedge Capital Management L L P NC lifted its position in Mission Produce by 1.0% during the 4th quarter. Wedge Capital Management L L P NC now owns 100,025 shares of the company’s stock worth $1,160,000 after acquiring an additional 958 shares during the period. Institutional investors and hedge funds own 63.57% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. Freedom Capital raised Mission Produce to a “strong-buy” rating in a report on Thursday, March 19th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Mission Produce in a report on Monday, April 20th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $17.00.

Mission Produce Trading Up 2.8%

Shares of Mission Produce stock opened at $11.08 on Thursday. The firm has a market cap of $785.02 million, a price-to-earnings ratio of 24.09 and a beta of 0.50. Mission Produce, Inc. has a 52-week low of $10.08 and a 52-week high of $15.53. The company’s 50-day simple moving average is $13.20 and its 200-day simple moving average is $12.95. The company has a quick ratio of 1.19, a current ratio of 1.86 and a debt-to-equity ratio of 0.19.

Mission Produce (NASDAQ:AVO) last announced its quarterly earnings data on Thursday, March 12th. The company reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of $0.07 by $0.03. Mission Produce had a net margin of 2.48% and a return on equity of 8.24%. The firm had revenue of $278.60 million during the quarter, compared to the consensus estimate of $277.33 million. During the same quarter last year, the firm earned $0.10 earnings per share. The firm’s revenue was down 26.1% compared to the same quarter last year. As a group, equities research analysts anticipate that Mission Produce, Inc. will post 0.6 earnings per share for the current year.

Insider Activity

In other Mission Produce news, major shareholder Holdings Venture Globalharvest purchased 3,695 shares of Mission Produce stock in a transaction dated Tuesday, March 17th. The stock was acquired at an average cost of $11.94 per share, with a total value of $44,118.30. Following the acquisition, the insider directly owned 9,991,577 shares of the company’s stock, valued at $119,299,429.38. This represents a 0.04% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 30.85% of the company’s stock.

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.