Goldman Sachs Group Inc. Reduces Position in 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. decreased its holdings in shares of Mission Produce, Inc. (NASDAQ:AVO - Free Report) by 22.5% in the 1st quarter, according to its most recent Form 13F 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 0.61% of Mission Produce worth $4,479,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of AVO. Millennium Management LLC grew its holdings in shares of Mission Produce by 153.3% during the fourth quarter. Millennium Management LLC now owns 453,757 shares of the company's stock worth $6,520,000 after purchasing an additional 274,591 shares in the last quarter. American Century Companies Inc. boosted its stake in Mission Produce by 38.1% in the first 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 in the last quarter. Algert Global LLC boosted its stake in Mission Produce by 221.5% in the first 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 in the last quarter. Cambridge Investment Research Advisors Inc. purchased a new stake in Mission Produce in the first quarter worth approximately $1,339,000. Finally, Nuveen LLC purchased a new stake in Mission Produce in the first quarter worth approximately $1,137,000. Hedge funds and other institutional investors own 63.57% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Zacks Research lowered Mission Produce from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 26th. Stephens assumed coverage on Mission Produce in a research note on Friday, September 12th. They set an "overweight" rating and a $17.00 price objective for the company. Finally, Roth Capital increased their price objective on Mission Produce from $16.00 to $17.00 and gave the company a "buy" rating in a research note on Tuesday, September 9th. Two investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, Mission Produce presently has an average rating of "Moderate Buy" and a consensus target price of $17.00.

Mission Produce Trading Down 1.6%

Shares of Mission Produce stock traded down $0.21 during midday trading on Friday, reaching $12.52. 1,527,093 shares of the company's stock traded hands, compared to its average volume of 358,165. The stock has a 50 day moving average of $12.40 and a 200-day moving average of $11.39. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.30 and a current ratio of 2.04. The company has a market cap of $884.15 million, a PE ratio of 23.19 and a beta of 0.57. Mission Produce, Inc. has a 12 month low of $9.56 and a 12 month high of $15.25.

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.