Vanguard Group Inc. Decreases Position in Fresh Del Monte Produce, Inc. $FDP

Vanguard Group Inc. decreased its position in Fresh Del Monte Produce, Inc. (NYSE:FDP) by 4.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,843,738 shares of the company’s stock after selling 242,263 shares during the period. Vanguard Group Inc. owned about 0.10% of Fresh Del Monte Produce worth $168,175,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. EverSource Wealth Advisors LLC raised its stake in shares of Fresh Del Monte Produce by 390.8% in the second quarter. EverSource Wealth Advisors LLC now owns 962 shares of the company’s stock valued at $31,000 after buying an additional 766 shares during the period. Geneos Wealth Management Inc. increased its holdings in Fresh Del Monte Produce by 238.1% in the 2nd quarter. Geneos Wealth Management Inc. now owns 1,065 shares of the company’s stock worth $35,000 after acquiring an additional 750 shares during the last quarter. Tower Research Capital LLC TRC lifted its holdings in Fresh Del Monte Produce by 34.7% during the second quarter. Tower Research Capital LLC TRC now owns 3,010 shares of the company’s stock valued at $98,000 after purchasing an additional 775 shares during the last quarter. BNP Paribas Financial Markets boosted its position in Fresh Del Monte Produce by 34.2% during the second quarter. BNP Paribas Financial Markets now owns 3,543 shares of the company’s stock worth $115,000 after purchasing an additional 902 shares during the period. Finally, Corton Capital Inc. bought a new position in Fresh Del Monte Produce during the second quarter worth about $203,000. 64.83% of the stock is owned by institutional investors.

Insider Buying and Selling at Fresh Del Monte Produce

In other news, CEO Ghazaleh Mohammad Abu sold 28,558 shares of the stock in a transaction that occurred on Monday, December 15th. The stock was sold at an average price of $38.42, for a total value of $1,097,198.36. Following the completion of the transaction, the chief executive officer owned 4,962,224 shares of the company’s stock, valued at approximately $190,648,646.08. This represents a 0.57% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 30.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on FDP. Wall Street Zen upgraded shares of Fresh Del Monte Produce from a “hold” rating to a “buy” rating in a research note on Saturday, February 21st. Weiss Ratings upgraded Fresh Del Monte Produce from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, February 23rd. One investment analyst has rated the stock with a Buy rating, According to MarketBeat, the stock has an average rating of “Buy”.

Fresh Del Monte Produce Stock Up 0.3%

Shares of NYSE:FDP opened at $43.04 on Tuesday. Fresh Del Monte Produce, Inc. has a 1 year low of $29.00 and a 1 year high of $43.58. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.16 and a quick ratio of 1.06. The stock’s 50-day moving average is $38.44 and its 200 day moving average is $36.66. The company has a market cap of $2.04 billion, a PE ratio of 22.89 and a beta of 0.28.

Fresh Del Monte Produce (NYSE:FDP) last announced its earnings results on Wednesday, February 18th. The company reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.28 by $0.42. The company had revenue of $968.20 million during the quarter, compared to the consensus estimate of $1.01 billion. Fresh Del Monte Produce had a return on equity of 7.63% and a net margin of 2.10%.The firm’s revenue for the quarter was up .6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.26 earnings per share.

Fresh Del Monte Produce Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 27th. Shareholders of record on Wednesday, March 4th will be given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend is Wednesday, March 4th. Fresh Del Monte Produce’s payout ratio is presently 63.83%.

Fresh Del Monte Produce Profile

Fresh Del Monte Produce Inc is a leading producer, marketer and distributor of fresh and fresh-cut fruits and vegetables worldwide. The company offers a wide range of products including bananas, pineapples, melons, grapes and avocados, along with value-added items such as fruit salads, vegetable trays and snack packs under the Del Monte® brand.

Founded in 1989 as a spin-off from Del Monte, Fresh Del Monte has developed a global supply chain that spans production farms, ripening facilities and packaging centers across Latin America, North America, Europe, Asia and Africa.