Invenomic Capital Management LP Sells 271,898 Shares of Fresh Del Monte Produce, Inc. $FDP

Invenomic Capital Management LP decreased its position in Fresh Del Monte Produce, Inc. (NYSE:FDP) by 60.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 180,662 shares of the company’s stock after selling 271,898 shares during the quarter. Invenomic Capital Management LP’s holdings in Fresh Del Monte Produce were worth $6,437,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Wasatch Advisors LP raised its position in shares of Fresh Del Monte Produce by 41.1% in the third quarter. Wasatch Advisors LP now owns 1,915,156 shares of the company’s stock valued at $66,494,000 after purchasing an additional 557,638 shares during the period. LSV Asset Management raised its position in shares of Fresh Del Monte Produce by 0.6% in the fourth quarter. LSV Asset Management now owns 1,741,494 shares of the company’s stock valued at $62,049,000 after purchasing an additional 10,246 shares during the period. American Century Companies Inc. raised its position in shares of Fresh Del Monte Produce by 9.5% in the third quarter. American Century Companies Inc. now owns 1,359,355 shares of the company’s stock valued at $47,197,000 after purchasing an additional 117,567 shares during the period. State Street Corp raised its position in shares of Fresh Del Monte Produce by 0.7% in the fourth quarter. State Street Corp now owns 1,336,786 shares of the company’s stock valued at $47,630,000 after purchasing an additional 9,933 shares during the period. Finally, Invesco Ltd. raised its position in shares of Fresh Del Monte Produce by 19.2% in the third quarter. Invesco Ltd. now owns 931,653 shares of the company’s stock valued at $32,347,000 after purchasing an additional 150,092 shares during the period. Institutional investors own 64.83% of the company’s stock.

Insiders Place Their Bets

In related news, Director Ahmad Abu-Ghazaleh bought 4,000 shares of the company’s stock in a transaction that occurred on Thursday, June 11th. The shares were acquired at an average price of $29.41 per share, with a total value of $117,640.00. Following the completion of the transaction, the director owned 4,000 shares of the company’s stock, valued at $117,640. The trade was a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Marissa R. Tenazas sold 1,046 shares of the business’s stock in a transaction on Thursday, April 2nd. The stock was sold at an average price of $40.40, for a total transaction of $42,258.40. Following the transaction, the senior vice president directly owned 8,050 shares in the company, valued at $325,220. This trade represents a 11.50% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 30.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on FDP shares. Weiss Ratings lowered shares of Fresh Del Monte Produce from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, May 11th. Wall Street Zen lowered shares of Fresh Del Monte Produce from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat, the company has an average rating of “Hold”.

Fresh Del Monte Produce Trading Down 4.0%

Shares of FDP stock opened at $27.75 on Thursday. Fresh Del Monte Produce, Inc. has a 1 year low of $27.67 and a 1 year high of $43.58. The firm’s fifty day simple moving average is $35.68 and its 200 day simple moving average is $37.87. The firm has a market capitalization of $1.32 billion, a P/E ratio of 19.13 and a beta of 0.22. The company has a current ratio of 2.34, a quick ratio of 1.10 and a debt-to-equity ratio of 0.22.

Fresh Del Monte Produce (NYSE:FDP) last announced its earnings results on Wednesday, May 6th. The company reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $0.01. Fresh Del Monte Produce had a net margin of 1.63% and a return on equity of 7.61%. The business had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.03 billion. During the same quarter in the previous year, the firm posted $0.63 earnings per share. Fresh Del Monte Produce’s revenue was down 4.9% compared to the same quarter last year.

Fresh Del Monte Produce Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, June 11th. Investors of record on Tuesday, May 19th were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Tuesday, May 19th. This represents a $1.20 dividend on an annualized basis and a yield of 4.3%. Fresh Del Monte Produce’s payout ratio is 82.76%.

About Fresh Del Monte Produce

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.