Fisher Asset Management LLC Makes New Investment in Fresh Del Monte Produce, Inc. $FDP

Fisher Asset Management LLC purchased a new position in Fresh Del Monte Produce, Inc. (NYSE:FDP) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 594,268 shares of the company’s stock, valued at approximately $21,174,000.

A number of other large investors have also made changes to their positions in FDP. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Fresh Del Monte Produce by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,090 shares of the company’s stock worth $619,000 after acquiring an additional 879 shares during the period. Millennium Management LLC boosted its holdings in shares of Fresh Del Monte Produce by 1,647.2% during the first quarter. Millennium Management LLC now owns 596,496 shares of the company’s stock worth $18,390,000 after purchasing an additional 562,356 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Fresh Del Monte Produce by 10.7% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 94,910 shares of the company’s stock valued at $2,926,000 after purchasing an additional 9,202 shares during the period. Jane Street Group LLC increased its stake in Fresh Del Monte Produce by 2,889.0% in the first quarter. Jane Street Group LLC now owns 122,716 shares of the company’s stock valued at $3,783,000 after purchasing an additional 127,116 shares during the last quarter. Finally, Prudential Financial Inc. lifted its position in Fresh Del Monte Produce by 25.4% during the second quarter. Prudential Financial Inc. now owns 9,016 shares of the company’s stock worth $292,000 after buying an additional 1,829 shares during the period. Institutional investors and hedge funds own 64.83% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on FDP shares. Wall Street Zen cut Fresh Del Monte Produce from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Weiss Ratings lowered Fresh Del Monte Produce from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, May 11th. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the stock has a consensus rating of “Hold”.

Fresh Del Monte Produce Price Performance

Fresh Del Monte Produce stock opened at $32.74 on Wednesday. The firm has a fifty day moving average of $39.34 and a 200-day moving average of $38.56. Fresh Del Monte Produce, Inc. has a 52-week low of $31.68 and a 52-week high of $43.58. The company has a quick ratio of 1.10, a current ratio of 2.34 and a debt-to-equity ratio of 0.22. The firm has a market capitalization of $1.56 billion, a P/E ratio of 22.58 and a beta of 0.30.

Fresh Del Monte Produce (NYSE:FDP) last issued its quarterly earnings data on Wednesday, May 6th. The company reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.01. The company had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $1.03 billion. Fresh Del Monte Produce had a return on equity of 7.61% and a net margin of 1.63%.The firm’s quarterly revenue was down 4.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.63 earnings per share.

Fresh Del Monte Produce Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 11th. Shareholders of record on Tuesday, May 19th will be issued a $0.30 dividend. The ex-dividend date is Tuesday, May 19th. This represents a $1.20 dividend on an annualized basis and a yield of 3.7%. Fresh Del Monte Produce’s payout ratio is currently 82.76%.

Insider Buying and Selling

In other Fresh Del Monte Produce news, SVP Marissa R. Tenazas sold 1,969 shares of the company’s stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $42.28, for a total value of $83,249.32. Following the transaction, the senior vice president directly owned 6,428 shares of the company’s stock, valued at $271,775.84. This represents a 23.45% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Gianpaolo Renino sold 6,297 shares of the firm’s stock in a transaction that occurred on Friday, March 6th. The stock was sold at an average price of $41.46, for a total transaction of $261,073.62. Following the sale, the senior vice president directly owned 3,198 shares of the company’s stock, valued at $132,589.08. The trade was a 66.32% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 33,151 shares of company stock worth $1,391,225 over the last quarter. Company insiders own 30.60% of the company’s stock.

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.