Fresh Del Monte Produce, Inc. $FDP Shares Sold by Invenomic Capital Management LP

Invenomic Capital Management LP reduced its position in shares of Fresh Del Monte Produce, Inc. (NYSE:FDP) by 6.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 452,560 shares of the company’s stock after selling 32,790 shares during the period. Invenomic Capital Management LP’s holdings in Fresh Del Monte Produce were worth $15,713,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also modified their holdings of FDP. EverSource Wealth Advisors LLC raised its holdings in shares of Fresh Del Monte Produce by 390.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 962 shares of the company’s stock valued at $31,000 after buying an additional 766 shares during the period. Geneos Wealth Management Inc. boosted its holdings in Fresh Del Monte Produce by 238.1% during the 2nd quarter. Geneos Wealth Management Inc. now owns 1,065 shares of the company’s stock valued at $35,000 after acquiring an additional 750 shares during the period. Tower Research Capital LLC TRC grew its position in Fresh Del Monte Produce by 34.7% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,010 shares of the company’s stock valued at $98,000 after acquiring an additional 775 shares in the last quarter. BNP Paribas Financial Markets grew its position in Fresh Del Monte Produce by 34.2% in the 2nd quarter. BNP Paribas Financial Markets now owns 3,543 shares of the company’s stock valued at $115,000 after acquiring an additional 902 shares in the last quarter. Finally, iSAM Funds UK Ltd purchased a new stake in Fresh Del Monte Produce during the third quarter worth about $188,000. 64.83% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Fresh Del Monte Produce

In other news, SVP Effie D. Silva sold 5,894 shares of the stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $41.94, for a total value of $247,194.36. Following the transaction, the senior vice president owned 8,536 shares in the company, valued at approximately $357,999.84. This represents a 40.85% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Mohammed Abbas sold 3,458 shares of the stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $42.28, for a total transaction of $146,204.24. Following the completion of the transaction, the chief operating officer directly owned 59,930 shares in the company, valued at $2,533,840.40. This trade represents a 5.46% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 32,105 shares of company stock valued at $1,348,967 over the last ninety days. Company insiders own 30.10% of the company’s stock.

Fresh Del Monte Produce Stock Down 1.4%

FDP stock opened at $41.40 on Monday. The company’s 50 day moving average price is $39.57 and its 200 day moving average price is $37.03. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.06 and a current ratio of 2.16. Fresh Del Monte Produce, Inc. has a fifty-two week low of $29.00 and a fifty-two week high of $43.58. The firm has a market capitalization of $1.96 billion, a price-to-earnings ratio of 22.02 and a beta of 0.28.

Fresh Del Monte Produce (NYSE:FDP) last issued its quarterly earnings results on Wednesday, February 18th. The company reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.28 by $0.42. Fresh Del Monte Produce had a net margin of 2.10% and a return on equity of 7.63%. The company had revenue of $968.20 million during the quarter, compared to the consensus estimate of $1.01 billion. During the same quarter in the previous year, the firm earned $0.26 earnings per share. The firm’s quarterly revenue was up .6% on a year-over-year basis.

Fresh Del Monte Produce Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 27th. Stockholders of record on Wednesday, March 4th will be given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 2.9%. The ex-dividend date of this dividend is Wednesday, March 4th. Fresh Del Monte Produce’s payout ratio is 63.83%.

Wall Street Analyst Weigh In

FDP has been the topic of several research reports. Weiss Ratings raised shares of Fresh Del Monte Produce from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, February 23rd. Wall Street Zen raised Fresh Del Monte Produce from a “hold” rating to a “buy” rating in a research report on Saturday, February 21st. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, Fresh Del Monte Produce has a consensus rating of “Buy”.

Fresh Del Monte Produce Company Profile

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.