Hennessy Advisors Inc. Sells 16,100 Shares of Fresh Del Monte Produce, Inc. $FDP

Hennessy Advisors Inc. lowered its position in Fresh Del Monte Produce, Inc. (NYSE:FDP) by 6.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 248,345 shares of the company’s stock after selling 16,100 shares during the quarter. Hennessy Advisors Inc. owned 0.52% of Fresh Del Monte Produce worth $8,849,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the company. State of Alaska Department of Revenue lifted its position in shares of Fresh Del Monte Produce by 1.6% in the 4th quarter. State of Alaska Department of Revenue now owns 18,832 shares of the company’s stock worth $670,000 after acquiring an additional 302 shares during the period. GAMMA Investing LLC lifted its position in shares of Fresh Del Monte Produce by 5.9% in the 3rd quarter. GAMMA Investing LLC now owns 9,619 shares of the company’s stock worth $334,000 after acquiring an additional 538 shares during the period. Horizon Investments LLC lifted its position in shares of Fresh Del Monte Produce by 3.8% in the 3rd quarter. Horizon Investments LLC now owns 15,834 shares of the company’s stock worth $545,000 after acquiring an additional 578 shares during the period. CWA Asset Management Group LLC lifted its position in shares of Fresh Del Monte Produce by 1.5% in the 3rd quarter. CWA Asset Management Group LLC now owns 39,397 shares of the company’s stock worth $1,368,000 after acquiring an additional 597 shares during the period. Finally, Geneos Wealth Management Inc. lifted its position in shares of 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 period. Institutional investors own 64.83% of the company’s stock.

Insider Buying and Selling at Fresh Del Monte Produce

In related news, SVP Effie D. Silva sold 5,894 shares of Fresh Del Monte Produce stock in a transaction on Monday, March 9th. The stock was sold at an average price of $41.94, for a total transaction of $247,194.36. Following the completion of the sale, the senior vice president directly owned 8,536 shares of the company’s stock, valued at $357,999.84. The trade was a 40.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Ziad Nabulsi sold 7,395 shares of Fresh Del Monte Produce stock in a transaction on Friday, March 6th. The stock was sold at an average price of $42.01, for a total value of $310,663.95. Following the sale, the senior vice president directly owned 8,397 shares of the company’s stock, valued at approximately $352,757.97. This trade represents a 46.83% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 33,151 shares of company stock valued at $1,391,225 over the last quarter. 30.10% of the stock is owned by corporate insiders.

Fresh Del Monte Produce Stock Up 0.2%

Shares of Fresh Del Monte Produce stock opened at $42.08 on Monday. The company has a quick ratio of 1.06, a current ratio of 2.16 and a debt-to-equity ratio of 0.09. Fresh Del Monte Produce, Inc. has a 12 month low of $31.43 and a 12 month high of $43.58. The business has a fifty day simple moving average of $41.47 and a 200 day simple moving average of $38.08. The stock has a market cap of $2.00 billion, a PE ratio of 22.38 and a beta of 0.28.

Fresh Del Monte Produce (NYSE:FDP) last announced its quarterly earnings data on Thursday, February 19th. The company reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.42. Fresh Del Monte Produce had a return on equity of 7.63% and a net margin of 2.10%.The business had revenue of $968.20 million during the quarter, compared to analysts’ expectations of $1.01 billion. During the same period in the previous year, the firm earned $0.26 earnings per share. The firm’s quarterly revenue was up .6% compared to the same quarter last year.

Fresh Del Monte Produce Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 27th. Investors of record on Wednesday, March 4th were paid a dividend of $0.30 per share. The ex-dividend date of this dividend was Wednesday, March 4th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.9%. Fresh Del Monte Produce’s payout ratio is 63.83%.

Wall Street Analyst Weigh In

Several research firms recently commented on FDP. Wall Street Zen upgraded Fresh Del Monte Produce from a “hold” rating to a “buy” rating in a research report 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 analyst has rated the stock with a Buy rating, According to data from MarketBeat, the company has a consensus rating of “Buy”.

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.