Quantinno Capital Management LP Raises Stock Holdings in Mission Produce, Inc. $AVO

Quantinno Capital Management LP lifted its stake in shares of Mission Produce, Inc. (NASDAQ:AVO) by 437.3% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 361,837 shares of the company’s stock after acquiring an additional 294,494 shares during the period. Quantinno Capital Management LP owned 0.51% of Mission Produce worth $4,979,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Mission Produce by 4.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 25,825 shares of the company’s stock valued at $271,000 after purchasing an additional 1,092 shares during the last quarter. Magnetar Financial LLC grew its holdings in shares of Mission Produce by 12.6% during the third quarter. Magnetar Financial LLC now owns 12,106 shares of the company’s stock worth $146,000 after buying an additional 1,351 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in shares of Mission Produce by 12.3% in the second quarter. The Manufacturers Life Insurance Company now owns 18,598 shares of the company’s stock valued at $218,000 after buying an additional 2,040 shares during the last quarter. Diversified Trust Co raised its position in shares of Mission Produce by 12.0% in the first quarter. Diversified Trust Co now owns 19,373 shares of the company’s stock valued at $267,000 after buying an additional 2,074 shares during the last quarter. Finally, AQR Capital Management LLC lifted its stake in shares of Mission Produce by 5.1% during the fourth quarter. AQR Capital Management LLC now owns 43,646 shares of the company’s stock valued at $506,000 after buying an additional 2,130 shares during the period. Hedge funds and other institutional investors own 63.57% of the company’s stock.

Mission Produce Price Performance

AVO stock opened at $12.56 on Friday. The company has a market cap of $1.11 billion, a PE ratio of 39.25 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 stock has a 50-day moving average price of $12.16 and a two-hundred day moving average price of $13.02. Mission Produce, Inc. has a 12-month low of $10.07 and a 12-month high of $15.53.

Mission Produce declared that its board has authorized a stock buyback plan on Monday, June 8th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the company to reacquire up to 13.8% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

AVO has been the topic of a number of analyst reports. UBS Group set a $16.00 target price on shares of Mission Produce in a research report on Wednesday, June 10th. Weiss Ratings lowered Mission Produce from a “hold (c)” rating to a “hold (c-)” rating in a research note on Tuesday, June 9th. Finally, Wall Street Zen downgraded Mission Produce from a “hold” rating to a “sell” rating in a research report on Saturday, June 13th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $16.67.

Insider Transactions at Mission Produce

In other Mission Produce news, major shareholder Holdings Venture Globalharvest purchased 592,957 shares of the business’s stock in a transaction that occurred on Thursday, July 9th. The shares were purchased at an average price of $13.28 per share, for a total transaction of $7,874,468.96. Following the completion of the acquisition, the insider owned 12,963,396 shares of the company’s stock, valued at approximately $172,153,898.88. This represents a 4.79% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jay A. Pack purchased 40,000 shares of Mission Produce stock in a transaction on Tuesday, June 30th. The shares were acquired at an average cost of $12.10 per share, for a total transaction of $484,000.00. Following the completion of the transaction, the director owned 579,965 shares of the company’s stock, valued at $7,017,576.50. This represents a 7.41% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have acquired a total of 3,352,161 shares of company stock worth $42,458,664 over the last 90 days. Company insiders own 30.85% 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.