Rhumbline Advisers Reduces Stake in Fresh Del Monte Produce, Inc. $FDP

Rhumbline Advisers lessened its holdings in Fresh Del Monte Produce, Inc. (NYSE:FDP) by 2.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 101,317 shares of the company’s stock after selling 3,031 shares during the period. Rhumbline Advisers owned approximately 0.21% of Fresh Del Monte Produce worth $3,124,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also modified their holdings of the company. McIlrath & Eck LLC purchased a new stake in shares of Fresh Del Monte Produce in the 4th quarter valued at $48,000. State of Wyoming purchased a new stake in Fresh Del Monte Produce in the fourth quarter valued at $54,000. Quantinno Capital Management LP purchased a new position in Fresh Del Monte Produce during the 4th quarter worth approximately $202,000. Kestra Private Wealth Services LLC purchased a new stake in Fresh Del Monte Produce in the first quarter valued at approximately $235,000. Finally, Magnetar Financial LLC purchased a new stake in Fresh Del Monte Produce in the first quarter valued at approximately $247,000. Institutional investors and hedge funds own 64.83% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen cut Fresh Del Monte Produce from a “strong-buy” rating to a “buy” rating in a research report on Saturday.

Fresh Del Monte Produce Price Performance

Shares of NYSE:FDP opened at $35.45 on Tuesday. The company has a market cap of $1.70 billion, a P/E ratio of 11.36 and a beta of 0.43. The company has a quick ratio of 1.11, a current ratio of 2.08 and a debt-to-equity ratio of 0.10. Fresh Del Monte Produce, Inc. has a 52 week low of $26.50 and a 52 week high of $40.75. The business has a fifty day simple moving average of $35.63 and a 200-day simple moving average of $33.43.

Fresh Del Monte Produce (NYSE:FDP) last announced its quarterly earnings data on Wednesday, July 30th. The company reported $1.23 EPS for the quarter, beating analysts’ consensus estimates of $0.95 by $0.28. The business had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.16 billion. Fresh Del Monte Produce had a return on equity of 6.84% and a net margin of 3.49%.The business’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.06 earnings per share.

Fresh Del Monte Produce Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 5th. Stockholders of record on Wednesday, August 13th were given a $0.30 dividend. The ex-dividend date of this dividend was Wednesday, August 13th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.4%. Fresh Del Monte Produce’s payout ratio is currently 38.46%.

Insiders Place Their Bets

In other news, CEO Ghazaleh Mohammad Abu sold 7,575 shares of Fresh Del Monte Produce stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $36.61, for a total value of $277,320.75. Following the completion of the sale, the chief executive officer owned 5,040,782 shares of the company’s stock, valued at $184,543,029.02. The trade was a 0.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Gianpaolo Renino sold 12,192 shares of Fresh Del Monte Produce stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $36.53, for a total value of $445,373.76. Following the completion of the sale, the senior vice president directly owned 3,197 shares of the company’s stock, valued at approximately $116,786.41. This represents a 79.23% decrease in their position. The disclosure for this sale can be found here. Insiders sold 137,039 shares of company stock worth $5,010,709 in the last three months. Company insiders own 30.10% of the company’s stock.

Fresh Del Monte Produce Profile

Fresh Del Monte Produce Inc, through its subsidiaries, produces, markets, and distributes fresh and fresh-cut fruits and vegetables in North America, Central America, South America, Europe, the Middle East, Africa, Asia, and internationally. It operates through three segments: Fresh and Value-Added Products, Banana, and Other Products and Services.