Alliancebernstein L.P. reduced its position in shares of Fresh Del Monte Produce, Inc. (NYSE:FDP) by 62.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 44,470 shares of the company’s stock after selling 75,420 shares during the period. Alliancebernstein L.P. owned about 0.09% of Fresh Del Monte Produce worth $2,634,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in FDP. DekaBank Deutsche Girozentrale acquired a new position in shares of Fresh Del Monte Produce during the first quarter worth about $258,000. Eqis Capital Management Inc. increased its position in Fresh Del Monte Produce by 24.8% in the first quarter. Eqis Capital Management Inc. now owns 4,558 shares of the company’s stock worth $270,000 after buying an additional 907 shares during the period. Icon Advisers Inc. Co. purchased a new position in Fresh Del Monte Produce during the first quarter worth $320,000. SG Americas Securities LLC increased its position in Fresh Del Monte Produce by 64.9% in the first quarter. SG Americas Securities LLC now owns 5,769 shares of the company’s stock worth $342,000 after buying an additional 2,270 shares during the period. Finally, Victory Capital Management Inc. increased its position in Fresh Del Monte Produce by 26.6% in the first quarter. Victory Capital Management Inc. now owns 5,862 shares of the company’s stock worth $347,000 after buying an additional 1,230 shares during the period. 66.64% of the stock is currently owned by institutional investors.

Fresh Del Monte Produce, Inc. (NYSE FDP) traded down 1.98% during trading on Monday, hitting $48.98. The stock had a trading volume of 213,352 shares. The company has a market capitalization of $2.45 billion, a P/E ratio of 15.57 and a beta of 0.42. The stock’s 50-day moving average price is $50.81 and its 200-day moving average price is $55.36. Fresh Del Monte Produce, Inc. has a 1-year low of $46.31 and a 1-year high of $66.86.

Fresh Del Monte Produce (NYSE:FDP) last released its quarterly earnings results on Tuesday, August 1st. The company reported $1.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.55 by $0.15. The company had revenue of $1.15 billion during the quarter. Fresh Del Monte Produce had a net margin of 3.99% and a return on equity of 10.23%. The business’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same quarter last year, the business earned $1.75 earnings per share. Analysts expect that Fresh Del Monte Produce, Inc. will post $3.79 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 8th. Stockholders of record on Wednesday, August 16th will be paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.22%. The ex-dividend date of this dividend is Monday, August 14th. Fresh Del Monte Produce’s dividend payout ratio (DPR) is 18.93%.

TRADEMARK VIOLATION NOTICE: “Alliancebernstein L.P. Has $2.63 Million Stake in Fresh Del Monte Produce, Inc. (NYSE:FDP)” was posted by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are accessing this article on another website, it was stolen and reposted in violation of international copyright & trademark legislation. The legal version of this article can be accessed at https://www.thecerbatgem.com/2017/08/07/fresh-del-monte-produce-inc-nysefdp-shares-sold-by-alliancebernstein-l-p-updated-updated-updated.html.

Separately, Zacks Investment Research downgraded Fresh Del Monte Produce from a “hold” rating to a “sell” rating in a research note on Monday, May 15th.

In related news, CFO Richard Contreras sold 1,796 shares of the company’s stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $47.60, for a total transaction of $85,489.60. Following the sale, the chief financial officer now directly owns 4,116 shares of the company’s stock, valued at approximately $195,921.60. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Youssef Zakharia sold 1,212 shares of the company’s stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $47.60, for a total transaction of $57,691.20. Following the sale, the insider now directly owns 3,080 shares in the company, valued at $146,608. The disclosure for this sale can be found here. Insiders sold a total of 125,846 shares of company stock worth $6,700,981 over the last three months. Insiders own 36.90% of the company’s stock.

Fresh Del Monte Produce Company Profile

Fresh Del Monte Produce Inc is a holding company. The Company, through its subsidiaries, is engaged in sourcing, transportation and marketing of fresh and fresh-cut produce together with prepared food products in Europe, Africa and the Middle East. Its operations are aggregated into business segments on the basis of its products: bananas, other fresh produce and prepared food.

Institutional Ownership by Quarter for Fresh Del Monte Produce (NYSE:FDP)

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