Mission Produce (NASDAQ:AVO) Director Bruce Taylor Acquires 70,283 Shares of Stock

Mission Produce, Inc. (NASDAQ:AVO) Director Bruce Taylor acquired 70,283 shares of the stock in a transaction that occurred on Tuesday, June 23rd. The stock was purchased at an average price of $11.25 per share, for a total transaction of $790,683.75. Following the completion of the acquisition, the director owned 855,842 shares in the company, valued at $9,628,222.50. The trade was a 8.95% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Mission Produce Price Performance

Shares of Mission Produce stock opened at $11.71 on Wednesday. The business has a 50 day simple moving average of $12.34 and a two-hundred day simple moving average of $12.88. Mission Produce, Inc. has a 12 month low of $10.07 and a 12 month high of $15.53. The stock has a market capitalization of $1.03 billion, a P/E ratio of 36.59 and a beta of 0.50. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.91 and a quick ratio of 1.12.

Mission Produce declared that its board has authorized a stock buyback program on Monday, June 8th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the company to repurchase up to 13.8% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

Analyst Ratings Changes

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

Institutional Trading of Mission Produce

Several hedge funds have recently made changes to their positions in AVO. Platform Wealth Management LLC acquired a new position in shares of Mission Produce in the 4th quarter valued at $12,130,000. Quantbot Technologies LP increased its position in shares of Mission Produce by 1,889.0% during the 3rd quarter. Quantbot Technologies LP now owns 39,979 shares of the company’s stock worth $481,000 after purchasing an additional 37,969 shares during the last quarter. Fourth Sail Capital LP purchased a new stake in Mission Produce in the 4th quarter valued at about $725,000. Inspire Investing LLC lifted its position in 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 buying an additional 126,658 shares during the last quarter. Finally, OP Asset Management Ltd acquired a new position in Mission Produce in the first quarter valued at about $1,404,000. Hedge funds and other institutional investors own 63.57% of the company’s stock.

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.