Bruce Taylor Purchases 286,410 Shares of Mission Produce (NASDAQ:AVO) Stock

Mission Produce, Inc. (NASDAQ:AVO) Director Bruce Taylor purchased 286,410 shares of the business’s stock in a transaction that occurred on Wednesday, June 17th. The stock was bought at an average cost of $11.27 per share, for a total transaction of $3,227,840.70. Following the completion of the acquisition, the director directly owned 755,842 shares in the company, valued at $8,518,339.34. The trade was a 61.01% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Mission Produce Stock Performance

Shares of AVO stock opened at $11.49 on Monday. The company has a quick ratio of 1.12, a current ratio of 1.91 and a debt-to-equity ratio of 0.22. The company has a 50 day moving average of $12.46 and a 200-day moving average of $12.89. Mission Produce, Inc. has a 12-month low of $10.07 and a 12-month high of $15.53. The firm has a market cap of $1.01 billion, a P/E ratio of 35.91 and a beta of 0.51.

Mission Produce declared that its Board of Directors has approved a share repurchase plan on Monday, June 8th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the company to reacquire up to 13.8% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its shares are undervalued.

Hedge Funds Weigh In On Mission Produce

Institutional investors have recently bought and sold shares of the stock. Quarry LP purchased a new position in shares of Mission Produce in the 3rd quarter valued at approximately $29,000. Leonteq Securities AG bought a new stake in Mission Produce during the 4th quarter valued at about $31,000. GAMMA Investing LLC raised its holdings in Mission Produce by 87.1% in the 4th quarter. GAMMA Investing LLC now owns 4,589 shares of the company’s stock worth $53,000 after acquiring an additional 2,136 shares during the last quarter. Tower Research Capital LLC TRC lifted its holdings in shares of Mission Produce by 211.8% during the second quarter. Tower Research Capital LLC TRC now owns 4,649 shares of the company’s stock valued at $54,000 after purchasing an additional 3,158 shares in the last quarter. Finally, Public Employees Retirement System of Ohio boosted its holdings in shares of Mission Produce by 466.0% during the 4th quarter. Public Employees Retirement System of Ohio now owns 7,035 shares of the company’s stock valued at $82,000 after acquiring an additional 5,792 shares during the last quarter. 63.57% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

AVO has been the topic of a number of analyst reports. Weiss Ratings cut shares of Mission Produce from a “hold (c)” rating to a “hold (c-)” rating in a report on Tuesday, June 9th. Freedom Capital raised shares of Mission Produce to a “strong-buy” rating in a report on Thursday, March 19th. Wall Street Zen downgraded Mission Produce from a “hold” rating to a “sell” rating in a research report on Saturday, June 13th. Finally, UBS Group set a $16.00 price target on shares of Mission Produce in a research report on Wednesday, June 10th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, Mission Produce has an average rating of “Moderate Buy” and a consensus target price of $16.67.

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.