Public Employees Retirement System of Ohio Trims Stock Position in Fresh Del Monte Produce, Inc. $FDP

Public Employees Retirement System of Ohio cut its stake in Fresh Del Monte Produce, Inc. (NYSE:FDP) by 12.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,302 shares of the company’s stock after selling 337 shares during the period. Public Employees Retirement System of Ohio’s holdings in Fresh Del Monte Produce were worth $75,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of FDP. GAMMA Investing LLC lifted its position in Fresh Del Monte Produce by 2,671.9% in the first quarter. GAMMA Investing LLC now owns 207,393 shares of the company’s stock valued at $6,727,000 after acquiring an additional 199,911 shares during the last quarter. SummerHaven Investment Management LLC raised its holdings in shares of Fresh Del Monte Produce by 1.3% in the first quarter. SummerHaven Investment Management LLC now owns 36,004 shares of the company’s stock valued at $1,110,000 after buying an additional 471 shares during the last quarter. CWA Asset Management Group LLC raised its holdings in shares of Fresh Del Monte Produce by 65.5% in the first quarter. CWA Asset Management Group LLC now owns 31,131 shares of the company’s stock valued at $960,000 after buying an additional 12,316 shares during the last quarter. Waterfront Wealth Inc. raised its holdings in shares of Fresh Del Monte Produce by 111.0% in the first quarter. Waterfront Wealth Inc. now owns 47,673 shares of the company’s stock valued at $1,470,000 after buying an additional 25,081 shares during the last quarter. Finally, New York State Teachers Retirement System raised its holdings in shares of Fresh Del Monte Produce by 17.4% in the first quarter. New York State Teachers Retirement System now owns 22,741 shares of the company’s stock valued at $701,000 after buying an additional 3,371 shares during the last quarter. 64.83% of the stock is owned by hedge funds and other institutional investors.

Fresh Del Monte Produce Trading Down 0.2%

NYSE FDP opened at $34.11 on Wednesday. The stock has a market capitalization of $1.64 billion, a P/E ratio of 10.93 and a beta of 0.41. Fresh Del Monte Produce, Inc. has a 52-week low of $26.50 and a 52-week high of $40.75. The firm has a 50-day moving average price of $35.86 and a 200 day moving average price of $33.95. 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 (NYSE:FDP) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $1.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.95 by $0.28. Fresh Del Monte Produce had a net margin of 3.49% and a return on equity of 6.84%. The firm had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.16 billion. During the same period in the prior year, the company posted $1.06 earnings per share. The firm’s revenue for the quarter was up 3.8% on a year-over-year basis.

Fresh Del Monte Produce Dividend Announcement

The business 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. This represents a $1.20 annualized dividend and a yield of 3.5%. The ex-dividend date was Wednesday, August 13th. Fresh Del Monte Produce’s dividend payout ratio is presently 38.46%.

Insider Activity at Fresh Del Monte Produce

In other Fresh Del Monte Produce news, SVP Ziad Nabulsi sold 1,000 shares of the company’s 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 transaction, the senior vice president directly owned 10,498 shares in the company, valued at approximately $377,403.10. This represents a 8.70% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Gianpaolo Renino sold 12,192 shares of the company’s 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 in the company, valued at $116,786.41. The trade was a 79.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 137,039 shares of company stock valued at $5,010,709. 30.10% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on FDP. Wall Street Zen cut shares of Fresh Del Monte Produce from a “strong-buy” rating to a “buy” rating in a report on Saturday, September 13th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Fresh Del Monte Produce in a report on Saturday, September 27th. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Buy”.

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.