Mission Produce (NASDAQ:AVO) Stock Price Down 5.3% – Time to Sell?

Mission Produce, Inc. (NASDAQ:AVO)’s share price was down 5.3% during trading on Monday . The stock traded as low as $13.35 and last traded at $13.35. Approximately 174,338 shares were traded during trading, a decline of 58% from the average daily volume of 416,175 shares. The stock had previously closed at $14.10.

Wall Street Analyst Weigh In

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

Mission Produce Price Performance

The company has a market cap of $885.02 million, a price-to-earnings ratio of 37.82 and a beta of 0.50. The company has a 50-day simple moving average of $13.34 and a 200-day simple moving average of $11.99. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.40 and a current ratio of 2.02.

Insider Activity at Mission Produce

In related news, CEO Stephen J. Barnard sold 7,032 shares of the business’s stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $14.51, for a total transaction of $102,034.32. Following the sale, the chief executive officer now owns 1,787,450 shares of the company’s stock, valued at approximately $25,935,899.50. The trade was a 0.39 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Jay A. Pack sold 59,165 shares of the company’s stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $14.70, for a total transaction of $869,725.50. Following the transaction, the director now owns 1,015,160 shares in the company, valued at $14,922,852. The trade was a 5.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 223,322 shares of company stock worth $3,245,105 over the last three months. 41.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Mission Produce

Several hedge funds have recently bought and sold shares of AVO. Bank of New York Mellon Corp grew its holdings in Mission Produce by 2.6% in the second quarter. Bank of New York Mellon Corp now owns 161,591 shares of the company’s stock valued at $1,597,000 after purchasing an additional 4,160 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Mission Produce by 22.9% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,498 shares of the company’s stock valued at $123,000 after acquiring an additional 2,332 shares during the last quarter. American Century Companies Inc. increased its holdings in Mission Produce by 16.5% during the 2nd quarter. American Century Companies Inc. now owns 70,511 shares of the company’s stock valued at $697,000 after acquiring an additional 10,000 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Mission Produce by 25.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,327,266 shares of the company’s stock valued at $13,113,000 after acquiring an additional 266,489 shares in the last quarter. Finally, XTX Topco Ltd raised its position in Mission Produce by 18.7% during the second quarter. XTX Topco Ltd now owns 19,179 shares of the company’s stock worth $189,000 after acquiring an additional 3,025 shares during the last quarter. 63.57% of the stock is owned by hedge funds and other 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.