Geode Capital Management LLC Increases Stake in Mission Produce, Inc. $AVO

Geode Capital Management LLC grew its stake in shares of Mission Produce, Inc. (NASDAQ:AVO) by 11.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,183,208 shares of the company’s stock after buying an additional 123,678 shares during the period. Geode Capital Management LLC’s holdings in Mission Produce were worth $13,869,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. PNC Financial Services Group Inc. grew its stake in Mission Produce by 123.1% during the first quarter. PNC Financial Services Group Inc. now owns 2,950 shares of the company’s stock valued at $31,000 after acquiring an additional 1,628 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Mission Produce during the 1st quarter valued at about $144,000. KLP Kapitalforvaltning AS boosted its holdings in shares of Mission Produce by 57.0% during the 2nd quarter. KLP Kapitalforvaltning AS now owns 12,400 shares of the company’s stock valued at $145,000 after purchasing an additional 4,500 shares during the last quarter. AlphaQuest LLC grew its position in shares of Mission Produce by 1,513,200.0% during the first quarter. AlphaQuest LLC now owns 15,133 shares of the company’s stock valued at $159,000 after purchasing an additional 15,132 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Mission Produce by 35.7% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,964 shares of the company’s stock worth $178,000 after purchasing an additional 4,466 shares during the last quarter. Institutional investors own 63.57% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on AVO shares. Weiss Ratings reissued a “hold (c)” rating on shares of Mission Produce in a research note on Wednesday, October 8th. Roth Capital upped their price objective on Mission Produce from $16.00 to $17.00 and gave the stock a “buy” rating in a report on Tuesday, September 9th. Stephens initiated coverage on Mission Produce in a research report on Friday, September 12th. They set an “overweight” rating and a $17.00 target price for the company. Finally, Zacks Research cut shares of Mission Produce from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 10th. Two analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, Mission Produce has an average rating of “Moderate Buy” and a consensus price target of $17.00.

Mission Produce Trading Up 0.7%

Shares of NASDAQ AVO opened at $12.11 on Tuesday. Mission Produce, Inc. has a 1-year low of $9.56 and a 1-year high of $15.25. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.04 and a quick ratio of 1.30. The business’s 50 day moving average is $11.91 and its two-hundred day moving average is $11.99. The stock has a market capitalization of $855.21 million, a P/E ratio of 22.43 and a beta of 0.58.

Mission Produce (NASDAQ:AVO) last announced its earnings results on Wednesday, November 13th. The company reported $0.15 EPS for the quarter. The firm had revenue of $261.40 million during the quarter. Mission Produce had a return on equity of 7.89% and a net margin of 2.73%. As a group, research analysts expect that Mission Produce, Inc. will post 0.34 EPS for the current year.

Insider Buying and Selling

In other news, major shareholder Holdings Venture Globalharvest acquired 72,165 shares of the business’s stock in a transaction on Thursday, November 6th. The shares were acquired at an average price of $11.94 per share, for a total transaction of $861,650.10. Following the completion of the transaction, the insider directly owned 7,237,192 shares of the company’s stock, valued at approximately $86,412,072.48. The trade was a 1.01% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have acquired 130,811 shares of company stock worth $1,552,487 over the last ninety days. 35.41% of the stock is owned by insiders.

About Mission Produce

Mission Produce, Inc engages in the sourcing, farming, packaging, marketing, and distribution of avocados, mangoes, and blueberries to food retailers, distributors, and foodservice customers in the United States and internationally. The company operates through three segments, Marketing and Distribution; International Farming; and Blueberries.