IQ EQ FUND MANAGEMENT IRELAND Ltd Trims Stake in Mission Produce, Inc. (NASDAQ:AVO)

IQ EQ FUND MANAGEMENT IRELAND Ltd reduced its position in Mission Produce, Inc. (NASDAQ:AVO) by 15.1% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 51,388 shares of the company’s stock after selling 9,125 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd owned 0.07% of Mission Produce worth $508,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Nuance Investments LLC increased its position in Mission Produce by 7.6% during the 4th quarter. Nuance Investments LLC now owns 4,621,456 shares of the company’s stock worth $46,630,000 after purchasing an additional 327,889 shares during the period. Vanguard Group Inc. increased its position in Mission Produce by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 2,831,250 shares of the company’s stock worth $33,607,000 after purchasing an additional 29,822 shares during the period. Charles Schwab Investment Management Inc. increased its position in Mission Produce by 10.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 658,038 shares of the company’s stock worth $6,640,000 after purchasing an additional 59,983 shares during the period. Buckingham Strategic Partners LLC acquired a new position in Mission Produce during the 4th quarter worth approximately $3,952,000. Finally, Bank of New York Mellon Corp increased its position in Mission Produce by 2.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 161,591 shares of the company’s stock worth $1,597,000 after purchasing an additional 4,160 shares during the period. 63.57% of the stock is owned by hedge funds and other institutional investors.

Mission Produce Trading Down 0.2 %

Shares of Mission Produce stock traded down $0.02 during trading hours on Friday, reaching $10.64. 22,009 shares of the company’s stock were exchanged, compared to its average volume of 186,405. Mission Produce, Inc. has a 52-week low of $8.19 and a 52-week high of $13.00. The firm has a market capitalization of $754.48 million, a price-to-earnings ratio of 42.64 and a beta of 0.47. The company has a fifty day moving average of $10.36 and a 200-day moving average of $11.05. 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 (NASDAQ:AVO) last issued its quarterly earnings results on Thursday, June 6th. The company reported $0.12 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.13. The company had revenue of $297.60 million for the quarter, compared to analyst estimates of $226.70 million. Mission Produce had a return on equity of 5.64% and a net margin of 1.64%. Sell-side analysts forecast that Mission Produce, Inc. will post 0.16 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Lake Street Capital began coverage on Mission Produce in a research report on Friday, May 17th. They set a “buy” rating and a $15.00 target price on the stock.

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.