Mission Produce, Inc. (NASDAQ:AVO – Get Free Report) major shareholder Holdings Venture Globalharvest purchased 592,957 shares of the firm’s stock in a transaction on Thursday, July 9th. The stock was acquired at an average price of $13.28 per share, for a total transaction of $7,874,468.96. Following the completion of the transaction, the insider directly owned 12,963,396 shares of the company’s stock, valued at approximately $172,153,898.88. This trade represents a 4.79% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Major shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.
Holdings Venture Globalharvest also recently made the following trade(s):
- On Wednesday, July 8th, Holdings Venture Globalharvest acquired 687,222 shares of Mission Produce stock. The shares were acquired at an average cost of $13.42 per share, with a total value of $9,222,519.24.
- On Tuesday, July 7th, Holdings Venture Globalharvest acquired 491,865 shares of Mission Produce stock. The stock was bought at an average price of $13.40 per share, with a total value of $6,590,991.00.
- On Monday, July 6th, Holdings Venture Globalharvest acquired 650,415 shares of Mission Produce stock. The stock was bought at an average price of $12.73 per share, with a total value of $8,279,782.95.
Mission Produce Stock Performance
Mission Produce stock traded down $0.02 during trading on Friday, reaching $13.33. The company had a trading volume of 1,064,582 shares, compared to its average volume of 1,576,044. The firm has a market capitalization of $1.18 billion, a price-to-earnings ratio of 41.66 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. The firm’s 50-day simple moving average is $12.01 and its 200 day simple moving average is $12.88. Mission Produce, Inc. has a 52 week low of $10.07 and a 52 week high of $15.53.
Institutional Investors Weigh In On Mission Produce
A number of institutional investors have recently bought and sold shares of the business. Inspire Investing LLC lifted its position in shares of Mission Produce by 312.3% in the first quarter. Inspire Investing LLC now owns 167,220 shares of the company’s stock valued at $2,301,000 after acquiring an additional 126,658 shares in the last quarter. Platform Wealth Management LLC purchased a new stake in shares of Mission Produce during the fourth quarter worth about $12,130,000. OP Asset Management Ltd bought a new stake in Mission Produce during the 1st quarter valued at approximately $1,404,000. Fourth Sail Capital LP bought a new stake in Mission Produce during the 4th quarter valued at approximately $725,000. Finally, Counterpoint Mutual Funds LLC purchased a new position in Mission Produce in the 1st quarter worth approximately $294,000. Hedge funds and other institutional investors own 63.57% of the company’s stock.
Key Headlines Impacting Mission Produce
Here are the key news stories impacting Mission Produce this week:
- Positive Sentiment: Major shareholder Holdings Venture Globalharvest continued building its stake, buying another 1.18 million shares for about $15.8 million after earlier purchases this week. That kind of repeated insider buying is often viewed as a vote of confidence in the business and may be supporting the stock. Mission Produce Stockholder Raises Stake by Nearly 1.2 Million Shares
- Positive Sentiment: Mission Produce also advanced its $100 million share repurchase program, which can signal management believes the shares are undervalued and may provide support to the stock. Mission Produce Advances $100 Million Share Buyback Program
- Positive Sentiment: Analysts remain broadly constructive, with coverage pointing to a consensus “Moderate Buy” rating and a price target above recent trading levels, reinforcing the idea that investors are viewing AVO favorably. Mission Produce, Inc. (NASDAQ:AVO) Given Consensus Recommendation of “Moderate Buy” by Analysts
- Neutral Sentiment: One article compared Mission Produce’s first-quarter earnings results with other perishable food stocks, but no major new catalyst or surprise was highlighted in the headline itself. Q1 earnings highs and lows: Mission Produce (NASDAQ:AVO) vs the rest of the perishable food stocks
- Neutral Sentiment: There was also a market roundup piece mentioning AVO among other stocks, but it did not indicate any company-specific news. 1 mooning stock to target this week and 2 that underwhelm
Wall Street Analysts Forecast Growth
A number of research firms have recently weighed in on AVO. Wall Street Zen cut Mission Produce from a “hold” rating to a “sell” rating in a research report 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. Freedom Capital upgraded shares of Mission Produce to a “strong-buy” rating in a research note on Thursday, March 19th. Finally, UBS Group set a $16.00 price target on shares of Mission Produce in a report on Wednesday, June 10th. One investment 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.com, Mission Produce has a consensus rating of “Moderate Buy” and an average target price of $16.67.
View Our Latest Stock Report on Mission Produce
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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