Mission Produce (NASDAQ:AVO) CFO Bryan Giles Sells 5,000 Shares

Mission Produce, Inc. (NASDAQ:AVO) CFO Bryan Giles sold 5,000 shares of the company’s stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $12.13, for a total value of $60,650.00. Following the completion of the transaction, the chief financial officer directly owned 146,931 shares in the company, valued at approximately $1,782,273.03. The trade was a 3.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Mission Produce Stock Down 1.6%

AVO opened at $12.06 on Tuesday. The company has a market capitalization of $1.07 billion, a PE ratio of 37.69 and a beta of 0.51. 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, Inc. has a fifty-two week low of $10.07 and a fifty-two week high of $15.53. The business has a 50-day moving average of $12.16 and a 200-day moving average of $12.88.

Mission Produce declared that its board has approved a share repurchase program on Monday, June 8th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the company to buy up to 13.8% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.

Institutional Investors Weigh In On Mission Produce

Hedge funds and other institutional investors have recently modified their holdings of the stock. Bank of America Corp DE increased its position in Mission Produce by 809.2% during the first quarter. Bank of America Corp DE now owns 444,135 shares of the company’s stock worth $6,111,000 after acquiring an additional 395,287 shares during the period. RBF Capital LLC boosted its holdings in Mission Produce by 40.3% in the 1st quarter. RBF Capital LLC now owns 104,410 shares of the company’s stock valued at $1,437,000 after purchasing an additional 30,000 shares during the period. Amundi bought a new stake in Mission Produce in the 1st quarter valued at $192,000. Rubric Capital Management LP acquired a new stake in Mission Produce in the 1st quarter worth $23,756,000. Finally, Quantinno Capital Management LP grew its position in Mission Produce by 437.3% in the 1st quarter. Quantinno Capital Management LP now owns 361,837 shares of the company’s stock worth $4,979,000 after purchasing an additional 294,494 shares during the last quarter. Institutional investors and hedge funds own 63.57% of the company’s stock.

Wall Street Analyst Weigh In

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

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.