Raymond James & Associates Sells 21,708 Shares of Mission Produce, Inc. (NASDAQ:AVO)

Raymond James & Associates reduced its position in shares of Mission Produce, Inc. (NASDAQ:AVO) by 8.0% in the second quarter, HoldingsChannel reports. The firm owned 250,676 shares of the company’s stock after selling 21,708 shares during the quarter. Raymond James & Associates’ holdings in Mission Produce were worth $2,477,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also made changes to their positions in the company. Quadrant Capital Group LLC grew its stake in shares of Mission Produce by 68.5% during the 4th quarter. Quadrant Capital Group LLC now owns 3,877 shares of the company’s stock valued at $39,000 after acquiring an additional 1,576 shares during the period. Lazard Asset Management LLC grew its stake in shares of Mission Produce by 245.2% during the 1st quarter. Lazard Asset Management LLC now owns 4,381 shares of the company’s stock valued at $52,000 after acquiring an additional 3,112 shares during the period. Sanders Morris Harris LLC bought a new position in shares of Mission Produce during the 1st quarter valued at approximately $119,000. PEAK6 Investments LLC bought a new position in shares of Mission Produce during the 1st quarter valued at approximately $132,000. Finally, First Trust Direct Indexing L.P. grew its stake in shares of Mission Produce by 27.9% during the 4th quarter. First Trust Direct Indexing L.P. now owns 13,680 shares of the company’s stock valued at $138,000 after acquiring an additional 2,981 shares during the period. 63.57% of the stock is currently owned by institutional investors.

Mission Produce Stock Up 0.6 %

NASDAQ AVO opened at $10.72 on Monday. The stock’s 50 day moving average is $10.38 and its 200 day moving average is $11.06. The company has a current ratio of 2.27, a quick ratio of 1.49 and a debt-to-equity ratio of 0.35. Mission Produce, Inc. has a 12 month low of $8.19 and a 12 month high of $13.00. The stock has a market cap of $760.16 million, a PE ratio of 42.88 and a beta of 0.47.

Mission Produce (NASDAQ:AVO) last posted its quarterly earnings results on Thursday, June 6th. The company reported $0.12 EPS for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.13. Mission Produce had a return on equity of 5.64% and a net margin of 1.64%. The company had revenue of $297.60 million for the quarter, compared to analysts’ expectations of $226.70 million. Research analysts predict that Mission Produce, Inc. will post 0.16 EPS for the current fiscal year.

Analysts Set New Price Targets

Separately, Lake Street Capital initiated coverage on Mission Produce in a research note on Friday, May 17th. They set a “buy” rating and a $15.00 price objective for the company.

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.