Fresh Del Monte Produce Inc. (NYSE:FDP) Shares Purchased by SummerHaven Investment Management LLC

SummerHaven Investment Management LLC increased its position in shares of Fresh Del Monte Produce Inc. (NYSE:FDP) by 1.6% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 28,467 shares of the company’s stock after buying an additional 437 shares during the quarter. SummerHaven Investment Management LLC’s holdings in Fresh Del Monte Produce were worth $747,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Strs Ohio acquired a new stake in shares of Fresh Del Monte Produce in the third quarter valued at approximately $41,000. SG Americas Securities LLC purchased a new stake in Fresh Del Monte Produce in the 3rd quarter valued at $177,000. Quantbot Technologies LP boosted its stake in Fresh Del Monte Produce by 1,526.5% during the 3rd quarter. Quantbot Technologies LP now owns 8,214 shares of the company’s stock worth $212,000 after purchasing an additional 7,709 shares during the period. Leuthold Group LLC purchased a new position in Fresh Del Monte Produce during the 3rd quarter worth $223,000. Finally, Penserra Capital Management LLC increased its stake in Fresh Del Monte Produce by 60.8% in the third quarter. Penserra Capital Management LLC now owns 8,910 shares of the company’s stock valued at $230,000 after purchasing an additional 3,370 shares during the period. Institutional investors and hedge funds own 64.83% of the company’s stock.

Fresh Del Monte Produce Stock Up 0.4 %

Shares of FDP stock opened at $25.71 on Tuesday. The company has a current ratio of 2.12, a quick ratio of 1.01 and a debt-to-equity ratio of 0.21. The business’s 50 day moving average is $24.96 and its two-hundred day moving average is $24.80. Fresh Del Monte Produce Inc. has a twelve month low of $21.41 and a twelve month high of $29.13.

Fresh Del Monte Produce (NYSE:FDP) last posted its quarterly earnings data on Monday, February 26th. The company reported $0.25 earnings per share for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.06). The firm had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $1.03 billion. Fresh Del Monte Produce had a negative net margin of 0.26% and a positive return on equity of 5.11%. The business’s quarterly revenue was down 3.0% on a year-over-year basis. During the same quarter last year, the business earned $0.45 earnings per share.

Fresh Del Monte Produce Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Thursday, March 7th were issued a $0.25 dividend. This is an increase from Fresh Del Monte Produce’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Wednesday, March 6th. This represents a $1.00 annualized dividend and a dividend yield of 3.89%. Fresh Del Monte Produce’s payout ratio is presently -400.00%.

Insider Transactions at Fresh Del Monte Produce

In other Fresh Del Monte Produce news, Director Ghazaleh Amir Abu acquired 10,000 shares of the stock in a transaction on Wednesday, February 28th. The shares were bought at an average price of $23.62 per share, with a total value of $236,200.00. Following the acquisition, the director now owns 3,264,308 shares of the company’s stock, valued at $77,102,954.96. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Fresh Del Monte Produce news, Director Ghazaleh Amir Abu purchased 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 28th. The shares were purchased at an average cost of $23.62 per share, for a total transaction of $236,200.00. Following the completion of the purchase, the director now directly owns 3,264,308 shares in the company, valued at $77,102,954.96. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Monica Vicente sold 1,083 shares of the stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $24.35, for a total value of $26,371.05. Following the completion of the transaction, the chief financial officer now owns 5,266 shares of the company’s stock, valued at approximately $128,227.10. The disclosure for this sale can be found here. Insiders have sold a total of 10,569 shares of company stock worth $258,509 over the last ninety days. 36.96% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Separately, TheStreet cut shares of Fresh Del Monte Produce from a “b-” rating to a “c” rating in a report on Monday, February 26th.

About Fresh Del Monte Produce

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.