Mission Produce, Inc. (NASDAQ:AVO - Get Free Report) CFO Bryan Giles sold 5,000 shares of the firm's stock in a transaction dated Monday, June 29th. The stock was 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 of the company's stock, valued at approximately $1,782,273.03. This represents a 3.29% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.
Mission Produce Stock Performance
Shares of NASDAQ:AVO opened at $12.06 on Tuesday. Mission Produce, Inc. has a fifty-two week low of $10.07 and a fifty-two week high of $15.53. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.91 and a quick ratio of 1.12. The business's fifty day moving average price is $12.16 and its two-hundred day moving average price is $12.88. The stock has a market capitalization of $1.07 billion, a price-to-earnings ratio of 37.69 and a beta of 0.51.
Mission Produce announced that its Board of Directors has initiated a share repurchase program on Monday, June 8th that permits the company to buyback $100.00 million in shares. This buyback authorization permits the company to buy 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.
Wall Street Analyst Weigh In
A number of equities analysts have commented on AVO shares. Freedom Capital upgraded shares of Mission Produce to a "strong-buy" rating in a research report on Thursday, March 19th. Wall Street Zen downgraded Mission Produce from a "hold" rating to a "sell" rating in a report on Saturday, June 13th. UBS Group set a $16.00 price target on Mission Produce in a research report on Wednesday, June 10th. Finally, Weiss Ratings downgraded Mission Produce from a "hold (c)" rating to a "hold (c-)" rating in a research report on Tuesday, June 9th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $16.67.
View Our Latest Report on AVO
Institutional Investors Weigh In On Mission Produce
Institutional investors and hedge funds have recently modified their holdings of the business. Bank of America Corp DE lifted its holdings in Mission Produce by 809.2% in the first quarter. Bank of America Corp DE now owns 444,135 shares of the company's stock valued at $6,111,000 after buying an additional 395,287 shares during the period. RBF Capital LLC grew its holdings in Mission Produce by 40.3% during the 1st quarter. RBF Capital LLC now owns 104,410 shares of the company's stock worth $1,437,000 after acquiring an additional 30,000 shares during the period. Amundi bought a new stake in shares of Mission Produce during the 1st quarter valued at $192,000. Rubric Capital Management LP bought a new stake in shares of Mission Produce during the 1st quarter valued at $23,756,000. Finally, Quantinno Capital Management LP lifted its stake in shares of Mission Produce by 437.3% in the 1st quarter. Quantinno Capital Management LP now owns 361,837 shares of the company's stock valued at $4,979,000 after purchasing an additional 294,494 shares during the period. 63.57% of the stock is owned by institutional investors.
Mission Produce Company Profile
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Get Free Report)
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.
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