The Manufacturers Life Insurance Company Sells 6,114 Shares of Mission Produce, Inc. (NASDAQ:AVO)

The Manufacturers Life Insurance Company lessened its holdings in shares of Mission Produce, Inc. (NASDAQ:AVO) by 9.1% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 61,409 shares of the company’s stock after selling 6,114 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Mission Produce were worth $607,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Lazard Asset Management LLC lifted its holdings in shares of Mission Produce by 245.2% in the first quarter. Lazard Asset Management LLC now owns 4,381 shares of the company’s stock worth $52,000 after buying an additional 3,112 shares in the last quarter. Point72 DIFC Ltd bought a new stake in Mission Produce during the 2nd quarter worth approximately $53,000. nVerses Capital LLC purchased a new stake in Mission Produce in the 2nd quarter worth approximately $67,000. Point72 Asia Singapore Pte. Ltd. bought a new position in Mission Produce in the 2nd quarter valued at $73,000. Finally, Sanders Morris Harris LLC purchased a new position in shares of Mission Produce during the 1st quarter valued at $119,000. 63.57% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

Mission Produce Stock Performance

Mission Produce stock opened at $12.14 on Wednesday. Mission Produce, Inc. has a fifty-two week low of $8.19 and a fifty-two week high of $13.62. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.40 and a current ratio of 2.02. The stock has a market cap of $860.85 million, a P/E ratio of 48.56 and a beta of 0.48. The firm’s fifty day moving average price is $11.65 and its 200-day moving average price is $11.33.

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

Insider Buying and Selling

In related news, Director Taylor Family Investments, Llc sold 100,100 shares of Mission Produce stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $13.25, for a total value of $1,326,325.00. Following the transaction, the director now owns 8,630,002 shares in the company, valued at $114,347,526.50. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Luis A. Gonzalez sold 51,615 shares of Mission Produce stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $13.28, for a total value of $685,447.20. Following the transaction, the director now directly owns 7,219,614 shares of the company’s stock, valued at $95,876,473.92. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Taylor Family Investments, Llc sold 100,100 shares of the stock in a transaction 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 sale, the director now directly owns 8,630,002 shares of the company’s stock, valued at $114,347,526.50. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 296,059 shares of company stock worth $3,920,360 in the last quarter. 41.60% of the stock is owned by insiders.

About Mission Produce

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.