Mission Produce, Inc. (NASDAQ:AVO) Shares Bought by Point72 Asset Management L.P.

Point72 Asset Management L.P. lifted its holdings in shares of Mission Produce, Inc. (NASDAQ:AVO) by 290.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,077 shares of the company’s stock after buying an additional 15,677 shares during the quarter. Point72 Asset Management L.P.’s holdings in Mission Produce were worth $270,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Point72 DIFC Ltd acquired a new stake in Mission Produce in the 2nd quarter worth about $53,000. nVerses Capital LLC purchased a new position in shares of Mission Produce in the second quarter valued at approximately $67,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Mission Produce in the second quarter valued at approximately $73,000. Quantbot Technologies LP acquired a new stake in shares of Mission Produce in the third quarter worth approximately $76,000. Finally, Cubist Systematic Strategies LLC purchased a new stake in shares of Mission Produce during the second quarter worth approximately $108,000. Hedge funds and other institutional investors own 63.57% of the company’s stock.

Insider Activity at Mission Produce

In related news, Director Jay A. Pack sold 22,000 shares of the stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $13.41, for a total value of $295,020.00. Following the completion of the transaction, the director now directly owns 1,115,160 shares in the company, valued at approximately $14,954,295.60. This represents a 1.93 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Taylor Family Investments, Llc sold 100,100 shares of the firm’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $13.25, for a total value of $1,326,325.00. Following the sale, the director now directly owns 8,630,002 shares of the company’s stock, valued at approximately $114,347,526.50. This trade represents a 1.15 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 195,113 shares of company stock valued at $2,592,130. 41.60% of the stock is owned by company insiders.

Analysts Set New Price Targets

AVO has been the topic of a number of research reports. Lake Street Capital restated a “buy” rating and issued a $15.00 price objective on shares of Mission Produce in a report on Tuesday, September 10th. Roth Mkm boosted their price target on shares of Mission Produce from $14.00 to $16.00 and gave the stock a “buy” rating in a research report on Wednesday, September 11th.

Mission Produce Stock Performance

Shares of Mission Produce stock opened at $13.23 on Friday. The business’s 50 day moving average price is $12.73 and its 200 day moving average price is $11.63. The company has a market cap of $938.15 million, a price-to-earnings ratio of 40.09 and a beta of 0.54. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.40 and a current ratio of 2.02. Mission Produce, Inc. has a one year low of $8.76 and a one year high of $14.17.

Mission Produce (NASDAQ:AVO) last issued its earnings results on Monday, September 9th. The company reported $0.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.23. The business had revenue of $324.00 million during the quarter, compared to the consensus estimate of $229.90 million. Mission Produce had a return on equity of 6.69% and a net margin of 2.06%. On average, research analysts predict that Mission Produce, Inc. will post 0.39 EPS for the current year.

Mission Produce Company Profile

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.