Wasatch Advisors LP Sells 400,348 Shares of Fresh Del Monte Produce, Inc. $FDP

Wasatch Advisors LP trimmed its position in shares of Fresh Del Monte Produce, Inc. (NYSE:FDP) by 22.4% in the first quarter, Holdings Channel reports. The fund owned 1,384,961 shares of the company’s stock after selling 400,348 shares during the quarter. Wasatch Advisors LP’s holdings in Fresh Del Monte Produce were worth $55,759,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. EverSource Wealth Advisors LLC lifted its position in shares of Fresh Del Monte Produce by 390.8% during the 2nd 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 boosted its stake in Fresh Del Monte Produce by 1,488.5% during the 3rd quarter. Larson Financial Group LLC now owns 969 shares of the company’s stock valued at $34,000 after purchasing an additional 908 shares during the period. Geneos Wealth Management Inc. grew its holdings in 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 valued at $35,000 after buying an additional 750 shares during the last quarter. Leonteq Securities AG acquired a new stake in Fresh Del Monte Produce in the 4th quarter valued at approximately $39,000. Finally, Aster Capital Management DIFC Ltd bought a new position in Fresh Del Monte Produce in the 4th quarter worth approximately $61,000. 64.83% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

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

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on FDP shares. Weiss Ratings lowered Fresh Del Monte Produce from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, June 17th. Wall Street Zen downgraded shares of Fresh Del Monte Produce from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat, Fresh Del Monte Produce presently has an average rating of “Hold”.

Fresh Del Monte Produce Stock Performance

NYSE:FDP opened at $29.19 on Friday. The firm’s 50-day moving average is $33.73 and its 200-day moving average is $37.44. The company has a market cap of $1.39 billion, a price-to-earnings ratio of 20.13 and a beta of 0.22. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.10 and a current ratio of 2.34. Fresh Del Monte Produce, Inc. has a 52-week low of $26.47 and a 52-week high of $43.58.

Fresh Del Monte Produce (NYSE:FDP) last released its earnings results on Wednesday, May 6th. The company reported $0.63 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts’ expectations of $1.03 billion. During the same quarter last year, the company earned $0.63 earnings per share. The firm’s revenue was down 4.9% on a year-over-year basis.

Fresh Del Monte Produce Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 11th. Shareholders of record on Tuesday, May 19th were issued a $0.30 dividend. The ex-dividend date of this dividend was Tuesday, May 19th. This represents a $1.20 annualized dividend and a yield of 4.1%. Fresh Del Monte Produce’s dividend 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.