Dean Investment Associates LLC lowered its stake in Fresh Del Monte Produce Inc (NYSE:FDP) by 3.6% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 90,835 shares of the company’s stock after selling 3,350 shares during the quarter. Dean Investment Associates LLC’s holdings in Fresh Del Monte Produce were worth $4,047,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently modified their holdings of FDP. Boston Partners boosted its stake in Fresh Del Monte Produce by 56.6% in the 1st quarter. Boston Partners now owns 752,611 shares of the company’s stock worth $34,048,000 after purchasing an additional 272,054 shares during the period. Mesirow Financial Investment Management Equity Management bought a new position in Fresh Del Monte Produce in the 2nd quarter worth about $11,109,000. Russell Investments Group Ltd. boosted its stake in Fresh Del Monte Produce by 358.4% in the 1st quarter. Russell Investments Group Ltd. now owns 107,832 shares of the company’s stock worth $4,878,000 after purchasing an additional 84,307 shares during the period. Algert Global LLC bought a new position in Fresh Del Monte Produce in the 1st quarter worth about $3,542,000. Finally, Northern Trust Corp boosted its stake in Fresh Del Monte Produce by 3.7% in the 1st quarter. Northern Trust Corp now owns 896,413 shares of the company’s stock worth $40,554,000 after purchasing an additional 31,832 shares during the period. Institutional investors and hedge funds own 62.91% of the company’s stock.
Separately, TheStreet upgraded Fresh Del Monte Produce from a “c+” rating to a “b+” rating in a research note on Tuesday, May 1st.
Shares of NYSE FDP opened at $38.11 on Friday. Fresh Del Monte Produce Inc has a 52 week low of $34.29 and a 52 week high of $52.43. The company has a quick ratio of 1.16, a current ratio of 2.20 and a debt-to-equity ratio of 0.38. The stock has a market capitalization of $1.87 billion, a price-to-earnings ratio of 32.55 and a beta of 0.33.
Fresh Del Monte Produce (NYSE:FDP) last issued its quarterly earnings results on Tuesday, July 31st. The company reported $0.14 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.27 by ($1.13). The business had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.28 billion. Fresh Del Monte Produce had a net margin of 0.91% and a return on equity of 3.19%. The business’s revenue was up 10.9% compared to the same quarter last year. During the same quarter last year, the business posted $1.40 EPS.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 7th. Stockholders of record on Wednesday, August 15th will be given a dividend of $0.15 per share. The ex-dividend date is Tuesday, August 14th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.57%.
In other news, SVP Emanuel Lazopoulos sold 3,099 shares of Fresh Del Monte Produce stock in a transaction dated Thursday, August 9th. The stock was sold at an average price of $39.04, for a total transaction of $120,984.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Youssef Zakharia sold 1,380 shares of Fresh Del Monte Produce stock in a transaction dated Tuesday, July 31st. The shares were sold at an average price of $35.49, for a total value of $48,976.20. Following the sale, the insider now owns 4,506 shares of the company’s stock, valued at approximately $159,917.94. The disclosure for this sale can be found here. In the last quarter, insiders have sold 71,726 shares of company stock valued at $3,136,053. Corporate insiders own 39.00% of the company’s stock.
Fresh Del Monte Produce Profile
Fresh Del Monte Produce Inc, through its subsidiaries, produces, markets, and distributes fresh and fresh-cut fruits and vegetables worldwide. It offers fresh produce products consisting of bananas, pineapples, melons, tomatoes, grapes, apples, pears, peaches, plums, nectarines, cherries, citrus, avocados, blueberries, strawberries, and kiwi; various vegetables, including potatoes, onions, bell peppers, and cucumbers; and various other fruits, such as plantains and mangos.
Further Reading: Price to Earnings Ratio (PE) Basics
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