Mission Produce, Inc. (NASDAQ:AVO – Get Free Report) major shareholder Holdings Venture Globalharvest bought 650,415 shares of the firm’s stock in a transaction that occurred on Monday, July 6th. The stock was bought at an average price of $12.73 per share, for a total transaction of $8,279,782.95. Following the completion of the acquisition, the insider directly owned 11,191,352 shares in the company, valued at approximately $142,465,910.96. The trade was a 6.17% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Large shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.
Mission Produce Trading Up 0.4%
Shares of Mission Produce stock traded up $0.05 on Wednesday, reaching $13.50. 1,965,715 shares of the company were exchanged, compared to its average volume of 1,646,352. The stock has a fifty day moving average price of $12.04 and a 200-day moving average price of $12.88. The firm has a market capitalization of $1.19 billion, a price-to-earnings ratio of 42.19 and a beta of 0.49. The company has a current ratio of 1.91, a quick ratio of 1.12 and a debt-to-equity ratio of 0.22. Mission Produce, Inc. has a fifty-two week low of $10.07 and a fifty-two week high of $15.53.
Mission Produce declared that its board has authorized a share 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 leadership believes its stock is undervalued.
Analyst Upgrades and Downgrades
Read Our Latest Analysis on Mission Produce
Institutional Inflows and Outflows
Several hedge funds have recently modified their holdings of the business. Dimensional Fund Advisors LP raised its holdings in shares of Mission Produce by 12.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,024,310 shares of the company’s stock valued at $41,614,000 after purchasing an additional 334,629 shares in the last quarter. Rubric Capital Management LP acquired a new stake in shares of Mission Produce in the 1st quarter valued at $23,756,000. Geode Capital Management LLC boosted its holdings in Mission Produce by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 1,048,598 shares of the company’s stock worth $12,166,000 after purchasing an additional 3,744 shares in the last quarter. Platform Wealth Management LLC bought a new stake in Mission Produce in the fourth quarter worth $12,130,000. Finally, Goldman Sachs Group Inc. increased its position in 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. Institutional investors and hedge funds 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.
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