Mission Produce, Inc. (NASDAQ:AVO) Stake Boosted by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company lifted its stake in shares of Mission Produce, Inc. (NASDAQ:AVO) by 8.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 66,303 shares of the company’s stock after purchasing an additional 4,894 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.09% of Mission Produce worth $850,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Connor Clark & Lunn Investment Management Ltd. bought a new position in Mission Produce during the 3rd quarter valued at $1,295,000. Dimensional Fund Advisors LP grew its holdings in Mission Produce by 25.1% during the second quarter. Dimensional Fund Advisors LP now owns 1,327,266 shares of the company’s stock worth $13,113,000 after acquiring an additional 266,489 shares during the period. Wedge Capital Management L L P NC acquired a new position in Mission Produce during the third quarter worth about $955,000. American Century Companies Inc. raised its position in Mission Produce by 16.5% in the second quarter. American Century Companies Inc. now owns 70,511 shares of the company’s stock worth $697,000 after acquiring an additional 10,000 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its holdings in Mission Produce by 15.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 13,932 shares of the company’s stock valued at $166,000 after acquiring an additional 1,870 shares during the last quarter. Institutional investors own 63.57% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on AVO. Lake Street Capital reissued a “buy” rating and issued a $15.00 price target on shares of Mission Produce in a research report on Tuesday, September 10th. Roth Mkm lifted their target price on shares of Mission Produce from $14.00 to $16.00 and gave the company a “buy” rating in a research note on Wednesday, September 11th.

Mission Produce Trading Down 0.3 %

Shares of NASDAQ AVO opened at $13.23 on Friday. Mission Produce, Inc. has a fifty-two week low of $8.76 and a fifty-two week high of $14.17. The firm has a market capitalization of $938.15 million, a P/E ratio of 40.09 and a beta of 0.54. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.02 and a quick ratio of 1.40. The company’s 50 day simple moving average is $12.73 and its 200 day simple moving average is $11.63.

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

Insider Activity at Mission Produce

In other Mission Produce news, Director Taylor Family Investments, Llc sold 100,100 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $13.25, for a total transaction of $1,326,325.00. Following the completion of the sale, the director now directly owns 8,630,002 shares in the company, valued at $114,347,526.50. This trade represents a 1.15 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Jay A. Pack sold 22,000 shares of the company’s stock in a transaction on Friday, September 20th. The shares were 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 disclosure for this sale can be found here. Over the last three months, insiders sold 195,113 shares of company stock valued at $2,592,130. 41.60% of the stock is owned by corporate insiders.

Mission Produce 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.