149,536 Shares in Mission Produce, Inc. $AVO Bought by Dean Capital Management

Dean Capital Management acquired a new position in shares of Mission Produce, Inc. (NASDAQ:AVO) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 149,536 shares of the company’s stock, valued at approximately $2,058,000. Dean Capital Management owned 0.21% of Mission Produce as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Renaissance Technologies LLC raised its stake in shares of Mission Produce by 44.9% in the first quarter. Renaissance Technologies LLC now owns 151,900 shares of the company’s stock valued at $2,090,000 after acquiring an additional 47,100 shares during the period. Gabelli Funds LLC purchased a new position in shares of Mission Produce during the 1st quarter worth about $1,277,000. GABELLI & Co INVESTMENT ADVISERS INC. purchased a new position in shares of Mission Produce during the 1st quarter worth about $1,183,000. Caxton Associates LLP purchased a new position in shares of Mission Produce during the 1st quarter worth about $225,000. Finally, Capula Management Ltd bought a new position in Mission Produce during the 1st quarter valued at about $3,550,000. 63.57% of the stock is owned by hedge funds and other institutional investors.

Mission Produce Price Performance

Shares of AVO opened at $12.42 on Monday. The firm has a market capitalization of $1.10 billion, a P/E ratio of 38.81 and a beta of 0.49. Mission Produce, Inc. has a 12-month low of $10.07 and a 12-month high of $15.53. 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 has a fifty day moving average price of $12.02 and a 200-day moving average price of $12.99.

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

Analyst Upgrades and Downgrades

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

Insider Activity at Mission Produce

In other Mission Produce news, CFO Bryan E. Giles sold 5,000 shares of the company’s stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $12.13, for a total value of $60,650.00. Following the transaction, the chief financial officer directly owned 146,931 shares in the company, valued at $1,782,273.03. This represents a 3.29% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Holdings Venture Globalharvest bought 592,957 shares of Mission Produce stock in a transaction dated Thursday, July 9th. The shares were bought at an average cost of $13.28 per share, for a total transaction of $7,874,468.96. Following the completion of the transaction, the insider 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. Additional details regarding this purchase are available in the official SEC disclosure. Over the last 90 days, insiders have purchased 3,352,161 shares of company stock worth $42,458,664. Corporate insiders own 30.85% of the company’s stock.

Mission Produce 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.