Penn Capital Management Company LLC Acquires New Shares in Fresh Del Monte Produce Inc $DMC

Penn Capital Management Company LLC acquired a new stake in shares of Fresh Del Monte Produce Inc (NYSE:DMC) in the 3rd quarter, Holdings Channel.com reports. The institutional investor acquired 20,844 shares of the company’s stock, valued at approximately $624,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. NewEdge Advisors LLC purchased a new stake in Fresh Del Monte Produce during the 2nd quarter valued at $4,023,000. AlphaCore Capital LLC bought a new position in shares of Fresh Del Monte Produce during the 3rd quarter valued at $1,350,000. Engineers Gate Manager LP bought a new position in shares of Fresh Del Monte Produce during the 2nd quarter valued at $1,141,000. Outfitters Financial LLC purchased a new position in shares of Fresh Del Monte Produce in the 2nd quarter worth $912,000. Finally, Inspire Investing LLC purchased a new position in shares of Fresh Del Monte Produce in the 3rd quarter worth $635,000. Institutional investors own 64.83% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on DMC. Wall Street Zen lowered Fresh Del Monte Produce from a “buy” rating to a “hold” rating in a report on Saturday, October 31st. Weiss Ratings downgraded Fresh Del Monte Produce from a “hold (c)” rating to a “hold (c-)” rating in a report on Friday, October 30th. Finally, Freedom Broker started coverage on Fresh Del Monte Produce in a research report on Wednesday, November 4th. They issued a “hold” rating on the stock. Two investment analysts have rated the stock with a Hold rating. Based on data from MarketBeat.com, Fresh Del Monte Produce currently has a consensus rating of “Hold”.

Fresh Del Monte Produce Trading Down 1.6%

Shares of NYSE DMC opened at $27.47 on Wednesday. The firm’s 50 day simple moving average is $29.95. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.30 and a quick ratio of 0.93. The company has a market capitalization of $1.30 billion, a price-to-earnings ratio of 10.94 and a beta of 0.25. Fresh Del Monte Produce Inc has a 12-month low of $26.09 and a 12-month high of $43.58.

Fresh Del Monte Produce (NYSE:DMC) last announced its earnings results on Thursday, October 29th. The company reported $0.50 EPS for the quarter, beating analysts’ consensus estimates of $0.46 by $0.04. Fresh Del Monte Produce had a net margin of 1.86% and a return on equity of 5.96%. The business had revenue of $1.10 billion during the quarter. During the same period in the prior year, the company posted $0.69 earnings per share. The firm’s quarterly revenue was up 7.2% on a year-over-year basis.

Fresh Del Monte Produce Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 4th. Stockholders of record on Wednesday, November 11th will be given a dividend of $0.30 per share. The ex-dividend date of this dividend is Tuesday, November 10th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 4.4%. Fresh Del Monte Produce’s payout ratio is presently 70.18%.

Fresh Del Monte Produce Company Profile

Fresh Del Monte Produce Inc. is a global producer, marketer and distributor of fresh and prepared food products. Its offerings include bananas, pineapples, melons and other fresh fruit, as well as vegetables, fresh-cut produce, juices and prepared foods. The company manages activities across the supply chain, including growing and sourcing produce, processing, packaging, transporting and distributing products. It serves customers in North America, Europe, the Middle East, Africa and Asia. Fresh Del Monte is part of the broader Del Monte brand heritage and operates as an independent company.