Goldman Sachs Group Inc. Lowers Position in Fresh Del Monte Produce, Inc. $FDP

Goldman Sachs Group Inc. decreased its position in Fresh Del Monte Produce, Inc. (NYSE:FDP) by 13.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 169,232 shares of the company’s stock after selling 25,771 shares during the period. Goldman Sachs Group Inc. owned about 0.35% of Fresh Del Monte Produce worth $5,217,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. McIlrath & Eck LLC purchased a new stake in shares of Fresh Del Monte Produce in the fourth quarter valued at about $48,000. State of Wyoming purchased a new stake in shares of Fresh Del Monte Produce in the fourth quarter valued at about $54,000. Quantinno Capital Management LP purchased a new stake in shares of Fresh Del Monte Produce in the fourth quarter valued at about $202,000. Kestra Private Wealth Services LLC purchased a new stake in shares of Fresh Del Monte Produce in the first quarter valued at about $235,000. Finally, Magnetar Financial LLC purchased a new stake in shares of Fresh Del Monte Produce in the first quarter valued at about $247,000. Hedge funds and other institutional investors own 64.83% of the company’s stock.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling at Fresh Del Monte Produce

In other Fresh Del Monte Produce news, SVP Ziad Nabulsi sold 1,000 shares of Fresh Del Monte Produce stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $35.95, for a total transaction of $35,950.00. Following the completion of the transaction, the senior vice president owned 10,498 shares in the company, valued at approximately $377,403.10. The trade was a 8.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Gianpaolo Renino sold 12,192 shares of Fresh Del Monte Produce stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $36.53, for a total transaction of $445,373.76. Following the transaction, the senior vice president owned 3,197 shares of the company’s stock, valued at approximately $116,786.41. The trade was a 79.23% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 137,039 shares of company stock worth $5,010,709. 30.10% of the stock is currently owned by insiders.

Fresh Del Monte Produce Stock Performance

Shares of FDP opened at $35.61 on Wednesday. The company has a current ratio of 2.08, a quick ratio of 1.11 and a debt-to-equity ratio of 0.10. The stock has a market cap of $1.71 billion, a P/E ratio of 11.41 and a beta of 0.43. The company has a 50-day moving average of $35.68 and a two-hundred day moving average of $33.44. Fresh Del Monte Produce, Inc. has a 12-month low of $26.50 and a 12-month high of $40.75.

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

Fresh Del Monte Produce Announces Dividend

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

Fresh Del Monte Produce Company 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.