Invenomic Capital Management LP Cuts Position in Fresh Del Monte Produce, Inc. $FDP

Invenomic Capital Management LP lowered its holdings in shares of Fresh Del Monte Produce, Inc. (NYSE:FDP) by 6.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 452,560 shares of the company’s stock after selling 32,790 shares during the quarter. Invenomic Capital Management LP owned approximately 0.95% of Fresh Del Monte Produce worth $15,713,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. GAMMA Investing LLC lifted its holdings in Fresh Del Monte Produce by 5.9% during the third quarter. GAMMA Investing LLC now owns 9,619 shares of the company’s stock valued at $334,000 after purchasing an additional 538 shares in the last quarter. Horizon Investments LLC lifted its stake in Fresh Del Monte Produce by 3.8% in the 3rd quarter. Horizon Investments LLC now owns 15,834 shares of the company’s stock valued at $545,000 after buying an additional 578 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in Fresh Del Monte Produce by 7.3% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 8,614 shares of the company’s stock worth $279,000 after buying an additional 583 shares during the last quarter. CWA Asset Management Group LLC increased its stake in Fresh Del Monte Produce by 1.5% during the 3rd quarter. CWA Asset Management Group LLC now owns 39,397 shares of the company’s stock worth $1,368,000 after buying an additional 597 shares in the last quarter. Finally, Geneos Wealth Management Inc. raised its holdings in shares of 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 valued at $35,000 after acquiring an additional 750 shares during the last quarter. 64.83% of the stock is owned by institutional investors and hedge funds.

Fresh Del Monte Produce Trading Down 1.4%

Shares of FDP stock opened at $41.40 on Monday. The company has a current ratio of 2.16, a quick ratio of 1.06 and a debt-to-equity ratio of 0.09. Fresh Del Monte Produce, Inc. has a twelve month low of $29.00 and a twelve month high of $43.58. The company’s 50-day moving average price is $39.57 and its 200-day moving average price is $37.03. The stock has a market cap of $1.96 billion, a price-to-earnings ratio of 22.02 and a beta of 0.28.

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

Fresh Del Monte Produce Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 27th. Shareholders of record on Wednesday, March 4th will be paid a dividend of $0.30 per share. The ex-dividend date of this dividend is Wednesday, March 4th. This represents a $1.20 annualized dividend and a yield of 2.9%. Fresh Del Monte Produce’s dividend payout ratio (DPR) is 63.83%.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

In other news, SVP Effie D. Silva sold 5,894 shares of the company’s stock in a transaction on Monday, March 9th. The stock was sold at an average price of $41.94, for a total value of $247,194.36. Following the transaction, the senior vice president owned 8,536 shares of the company’s stock, valued at $357,999.84. This represents a 40.85% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Gianpaolo Renino sold 6,297 shares of the stock in a transaction on Friday, March 6th. The stock was sold at an average price of $41.46, for a total value of $261,073.62. Following the transaction, the senior vice president owned 3,198 shares of the company’s stock, valued at approximately $132,589.08. This represents a 66.32% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 32,105 shares of company stock valued at $1,348,967. 30.10% of the stock is currently owned by company 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.