Mission Produce (NASDAQ:AVO) Sets New 12-Month High at $13.50

Mission Produce, Inc. (NASDAQ:AVO)’s stock price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $13.50 and last traded at $13.48, with a volume of 583993 shares changing hands. The stock had previously closed at $13.10.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on AVO shares. Lake Street Capital reaffirmed a “buy” rating and set a $15.00 price target on shares of Mission Produce in a research note on Tuesday, September 10th. Roth Mkm raised their price objective on shares of Mission Produce from $14.00 to $16.00 and gave the company a “buy” rating in a research report on Wednesday, September 11th.

Mission Produce Price Performance

The company has a current ratio of 2.02, a quick ratio of 1.49 and a debt-to-equity ratio of 0.28. The stock has a fifty day simple moving average of $10.96 and a 200-day simple moving average of $11.19. The stock has a market cap of $961.54 million, a price-to-earnings ratio of 54.08 and a beta of 0.47.

Insider Activity at Mission Produce

In other news, Director Jay A. Pack sold 72,054 shares of Mission Produce stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $13.30, for a total transaction of $958,318.20. Following the sale, the director now owns 384,823 shares of the company’s stock, valued at approximately $5,118,145.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Luis A. Gonzalez sold 49,331 shares of the stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $13.03, for a total value of $642,782.93. Following the completion of the transaction, the director now owns 7,398,902 shares of the company’s stock, valued at $96,407,693.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jay A. Pack sold 72,054 shares of the firm’s stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $13.30, for a total transaction of $958,318.20. Following the transaction, the director now owns 384,823 shares of the company’s stock, valued at approximately $5,118,145.90. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 173,959 shares of company stock worth $2,299,015. Company insiders own 41.60% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Buckingham Strategic Partners LLC bought a new stake in Mission Produce during the 4th quarter worth approximately $3,952,000. Dimensional Fund Advisors LP grew its holdings in shares of 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 purchasing an additional 266,489 shares during the last quarter. Marshall Wace LLP grew its holdings in shares of Mission Produce by 202.1% during the second quarter. Marshall Wace LLP now owns 215,047 shares of the company’s stock worth $2,125,000 after purchasing an additional 143,858 shares during the last quarter. SG Capital Management LLC acquired a new stake in shares of Mission Produce in the first quarter valued at $1,331,000. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Mission Produce by 10.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 658,038 shares of the company’s stock valued at $6,640,000 after buying an additional 59,983 shares during the last quarter. 63.57% of the stock is owned by institutional investors.

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.