Goldman Sachs Group Inc. Sells 124,253 Shares of Mission Produce, Inc. $AVO

Key Points

• Goldman Sachs Group Inc. has reduced its stake in Mission Produce by 22.5%, now holding approximately 0.61% of the company valued at $4,479,000.
• Several institutional investors have increased their positions in Mission Produce, with Millennium Management LLC raising its stake by 153.3% during the last quarter.
• Mission Produce shares currently trade at $12.79, and analysts have varying ratings on the stock, with a consensus of Moderate Buy and an average target price of $17.00.

Goldman Sachs Group Inc. cut its stake in Mission Produce, Inc. (NASDAQ:AVO - Free Report) by 22.5% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 427,358 shares of the company's stock after selling 124,253 shares during the quarter. Goldman Sachs Group Inc. owned about 0.61% of Mission Produce worth $4,479,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. raised its holdings in Mission Produce by 3.0% in the 1st quarter. Vanguard Group Inc. now owns 2,920,349 shares of the company's stock worth $30,605,000 after purchasing an additional 85,984 shares in the last quarter. American Century Companies Inc. grew its position in shares of Mission Produce by 38.1% in the 1st quarter. American Century Companies Inc. now owns 669,734 shares of the company's stock worth $7,019,000 after buying an additional 184,639 shares during the period. Millennium Management LLC grew its position in shares of Mission Produce by 153.3% in the 4th quarter. Millennium Management LLC now owns 453,757 shares of the company's stock worth $6,520,000 after buying an additional 274,591 shares during the period. Trexquant Investment LP grew its position in shares of Mission Produce by 31.7% in the 1st quarter. Trexquant Investment LP now owns 266,020 shares of the company's stock worth $2,788,000 after buying an additional 64,045 shares during the period. Finally, Algert Global LLC grew its position in shares of Mission Produce by 221.5% in the 1st quarter. Algert Global LLC now owns 251,784 shares of the company's stock worth $2,639,000 after buying an additional 173,472 shares during the period. 63.57% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Zacks Research downgraded shares of Mission Produce from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 26th. Stephens assumed coverage on shares of Mission Produce in a research report on Friday, September 12th. They set an "overweight" rating and a $17.00 price objective on the stock. Finally, Roth Capital increased their price objective on shares of Mission Produce from $16.00 to $17.00 and gave the company a "buy" rating in a research report on Tuesday, September 9th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $17.00.

Mission Produce Stock Performance

Shares of AVO stock traded down $0.21 during trading hours on Friday, reaching $12.52. The company had a trading volume of 1,527,093 shares, compared to its average volume of 620,241. The business has a fifty day moving average price of $12.41 and a 200-day moving average price of $11.39. Mission Produce, Inc. has a one year low of $9.56 and a one year high of $15.25. The firm has a market cap of $884.16 million, a PE ratio of 23.19 and a beta of 0.57. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.30 and a current ratio of 2.04.

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.