Mission Produce (NASDAQ:AVO) CFO Sells $60,650.00 in Stock

Mission Produce, Inc. (NASDAQ:AVO) CFO Bryan Giles sold 5,000 shares of the stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $12.13, for a total transaction of $60,650.00. Following the transaction, the chief financial officer owned 146,931 shares in the company, valued at approximately $1,782,273.03. This represents a 3.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link.

Mission Produce Stock Performance

Shares of NASDAQ:AVO opened at $12.44 on Thursday. The firm has a 50 day moving average of $12.09 and a 200 day moving average of $12.88. The company has a quick ratio of 1.12, a current ratio of 1.91 and a debt-to-equity ratio of 0.22. The company has a market capitalization of $1.10 billion, a price-to-earnings ratio of 38.88 and a beta of 0.49. Mission Produce, Inc. has a 52 week low of $10.07 and a 52 week high of $15.53.

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

Analysts Set New Price Targets

A number of brokerages have recently issued reports on AVO. 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 report on Thursday, March 19th. Wall Street Zen lowered Mission Produce from a “hold” rating to a “sell” rating in a research note on Saturday, June 13th. Finally, Weiss Ratings cut Mission Produce from a “hold (c)” rating to a “hold (c-)” rating in a research report on Tuesday, June 9th. One 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 MarketBeat.com, Mission Produce has a consensus rating of “Moderate Buy” and a consensus target price of $16.67.

Hedge Funds Weigh In On Mission Produce

Several institutional investors and hedge funds have recently modified their holdings of AVO. AQR Capital Management LLC grew its holdings in Mission Produce by 228.4% during the first quarter. AQR Capital Management LLC now owns 95,816 shares of the company’s stock worth $1,004,000 after acquiring an additional 66,640 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Mission Produce by 4.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 25,825 shares of the company’s stock valued at $271,000 after acquiring an additional 1,092 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in Mission Produce by 10.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 163,304 shares of the company’s stock worth $1,711,000 after purchasing an additional 15,076 shares in the last quarter. Jane Street Group LLC grew its stake in shares of Mission Produce by 179.7% during the 1st quarter. Jane Street Group LLC now owns 65,813 shares of the company’s stock worth $690,000 after purchasing an additional 42,284 shares during the period. Finally, Acadian Asset Management LLC acquired a new stake in shares of Mission Produce during the 1st quarter worth approximately $581,000. Institutional investors and hedge funds 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.