Fresh Del Monte Produce, Inc. $FDP Stake Cut by Vanguard Group Inc.

Vanguard Group Inc. cut its position in shares of Fresh Del Monte Produce, Inc. (NYSE:FDP) by 1.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,764,539 shares of the company’s stock after selling 79,199 shares during the quarter. Vanguard Group Inc. owned 0.10% of Fresh Del Monte Produce worth $169,761,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC lifted its stake in Fresh Del Monte Produce by 390.8% during the second quarter. EverSource Wealth Advisors LLC now owns 962 shares of the company’s stock worth $31,000 after purchasing an additional 766 shares during the last quarter. Larson Financial Group LLC lifted its stake in Fresh Del Monte Produce by 1,488.5% during the third quarter. Larson Financial Group LLC now owns 969 shares of the company’s stock worth $34,000 after purchasing an additional 908 shares during the last quarter. Geneos Wealth Management Inc. lifted its stake in Fresh Del Monte Produce by 238.1% during the second quarter. Geneos Wealth Management Inc. now owns 1,065 shares of the company’s stock worth $35,000 after purchasing an additional 750 shares during the last quarter. Sunbelt Securities Inc. acquired a new stake in Fresh Del Monte Produce in the third quarter worth $77,000. Finally, Tower Research Capital LLC TRC increased its position in Fresh Del Monte Produce by 34.7% in the second quarter. Tower Research Capital LLC TRC now owns 3,010 shares of the company’s stock worth $98,000 after buying an additional 775 shares during the period. 64.83% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Wall Street Zen lowered Fresh Del Monte Produce from a “buy” rating to a “hold” rating in a research report on Saturday. Weiss Ratings raised Fresh Del Monte Produce from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, February 23rd. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, Fresh Del Monte Produce presently has a consensus rating of “Buy”.

Fresh Del Monte Produce Price Performance

Shares of NYSE FDP opened at $36.82 on Monday. Fresh Del Monte Produce, Inc. has a 1-year low of $31.43 and a 1-year high of $43.58. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.34 and a quick ratio of 1.10. The business’s fifty day moving average price is $41.46 and its two-hundred day moving average price is $38.65. The firm has a market capitalization of $1.75 billion, a PE ratio of 25.39 and a beta of 0.30.

Fresh Del Monte Produce (NYSE:FDP) last issued its earnings results on Tuesday, May 5th. The company reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.01. Fresh Del Monte Produce had a return on equity of 7.61% and a net margin of 1.63%.The firm had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.03 billion. During the same period last year, the company earned $0.63 earnings per share. The firm’s revenue for the quarter was down 4.9% on a year-over-year basis.

Fresh Del Monte Produce Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 11th. Stockholders of record on Tuesday, May 19th will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date of this dividend is Tuesday, May 19th. Fresh Del Monte Produce’s dividend payout ratio (DPR) is 82.76%.

Insider Activity at Fresh Del Monte Produce

In other news, SVP Marissa R. Tenazas sold 1,969 shares of the firm’s stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $42.28, for a total transaction of $83,249.32. Following the transaction, the senior vice president directly owned 6,428 shares of the company’s stock, valued at approximately $271,775.84. This trade represents a 23.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Gianpaolo Renino sold 6,297 shares of the firm’s stock in a transaction on Friday, March 6th. The shares were sold at an average price of $41.46, for a total value of $261,073.62. Following the transaction, the senior vice president directly owned 3,198 shares in the company, valued at $132,589.08. This trade represents a 66.32% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 33,151 shares of company stock valued at $1,391,225. 30.60% of the stock is owned by corporate insiders.

Fresh Del Monte Produce Company 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.