Fresh Del Monte Produce Inc. (NYSE:FDP) Stock Position Lifted by SummerHaven Investment Management LLC

SummerHaven Investment Management LLC lifted its stake in shares of Fresh Del Monte Produce Inc. (NYSE:FDP) by 2.3% during the second quarter, Holdings Channel.com reports. The firm owned 29,493 shares of the company’s stock after acquiring an additional 659 shares during the period. SummerHaven Investment Management LLC’s holdings in Fresh Del Monte Produce were worth $644,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also bought and sold shares of the company. Parallel Advisors LLC boosted its holdings in shares of Fresh Del Monte Produce by 197.6% in the fourth quarter. Parallel Advisors LLC now owns 1,119 shares of the company’s stock valued at $29,000 after acquiring an additional 743 shares in the last quarter. GAMMA Investing LLC increased its position in shares of Fresh Del Monte Produce by 232.1% during the 2nd quarter. GAMMA Investing LLC now owns 1,604 shares of the company’s stock valued at $35,000 after purchasing an additional 1,121 shares during the period. Lazard Asset Management LLC bought a new stake in shares of Fresh Del Monte Produce in the 1st quarter worth $48,000. EntryPoint Capital LLC acquired a new stake in shares of Fresh Del Monte Produce in the first quarter valued at $49,000. Finally, Advisors Asset Management Inc. acquired a new position in Fresh Del Monte Produce during the first quarter worth about $174,000. Institutional investors and hedge funds own 64.83% of the company’s stock.

Fresh Del Monte Produce Price Performance

Shares of NYSE FDP traded up $0.36 during trading on Friday, hitting $28.38. The company had a trading volume of 21,720 shares, compared to its average volume of 245,091. Fresh Del Monte Produce Inc. has a 52 week low of $21.23 and a 52 week high of $28.38. The business’s 50-day moving average is $24.04 and its 200 day moving average is $24.28. The company has a market cap of $1.36 billion, a P/E ratio of -54.92 and a beta of 0.44. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.11 and a current ratio of 2.16.

Fresh Del Monte Produce (NYSE:FDP) last announced its earnings results on Thursday, August 1st. The company reported $1.06 EPS for the quarter, beating the consensus estimate of $0.60 by $0.46. The business had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.18 billion. Fresh Del Monte Produce had a positive return on equity of 4.88% and a negative net margin of 0.43%. Fresh Del Monte Produce’s revenue was down 3.5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.99 earnings per share.

Fresh Del Monte Produce Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 6th. Shareholders of record on Thursday, August 15th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 3.52%. The ex-dividend date of this dividend is Thursday, August 15th. Fresh Del Monte Produce’s payout ratio is -196.08%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised shares of Fresh Del Monte Produce from a “hold” rating to a “buy” rating in a report on Monday, August 5th.

Insider Buying and Selling at Fresh Del Monte Produce

In other Fresh Del Monte Produce news, SVP Marissa R. Tenazas purchased 2,000 shares of the stock in a transaction dated Friday, June 14th. The shares were acquired at an average price of $21.85 per share, for a total transaction of $43,700.00. Following the completion of the acquisition, the senior vice president now owns 2,108 shares of the company’s stock, valued at approximately $46,059.80. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Mary Ann Cloyd sold 1,689 shares of the business’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $27.20, for a total transaction of $45,940.80. Following the transaction, the director now directly owns 22,188 shares in the company, valued at approximately $603,513.60. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Marissa R. Tenazas acquired 2,000 shares of Fresh Del Monte Produce stock in a transaction that occurred on Friday, June 14th. The shares were purchased at an average cost of $21.85 per share, with a total value of $43,700.00. Following the transaction, the senior vice president now owns 2,108 shares of the company’s stock, valued at approximately $46,059.80. The disclosure for this purchase can be found here. Insiders have sold a total of 10,406 shares of company stock valued at $286,995 in the last three months. 30.10% of the stock is currently owned by company insiders.

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.