Wasatch Advisors LP Reduces Holdings in Fresh Del Monte Produce, Inc. $FDP

Wasatch Advisors LP cut its position in Fresh Del Monte Produce, Inc. (NYSE:FDP) by 16.4% in the second quarter, Holdings Channel reports. The firm owned 1,157,304 shares of the company’s stock after selling 227,657 shares during the period. Wasatch Advisors LP’s holdings in Fresh Del Monte Produce were worth $32,300,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently added to or reduced their stakes in the company. Geneos Wealth Management Inc. increased its stake in Fresh Del Monte Produce by 26.1% in the fourth quarter. Geneos Wealth Management Inc. now owns 1,450 shares of the company’s stock valued at $52,000 after purchasing an additional 300 shares during the period. State of Alaska Department of Revenue boosted its stake in shares of Fresh Del Monte Produce by 1.6% during the fourth quarter. State of Alaska Department of Revenue now owns 18,832 shares of the company’s stock worth $670,000 after buying an additional 302 shares during the period. Parallel Advisors LLC boosted its stake in shares of Fresh Del Monte Produce by 8.5% during the first quarter. Parallel Advisors LLC now owns 5,659 shares of the company’s stock worth $228,000 after buying an additional 445 shares during the period. HighTower Advisors LLC grew its holdings in shares of Fresh Del Monte Produce by 5.2% during the fourth quarter. HighTower Advisors LLC now owns 9,982 shares of the company’s stock worth $356,000 after buying an additional 489 shares during the last quarter. Finally, Outfitters Financial LLC grew its holdings in shares of Fresh Del Monte Produce by 1.5% during the fourth quarter. Outfitters Financial LLC now owns 33,145 shares of the company’s stock worth $1,181,000 after buying an additional 500 shares during the last quarter. Institutional investors and hedge funds own 64.83% of the company’s stock.

Insiders Place Their Bets

In other news, Director Ahmad Abu-Ghazaleh purchased 4,000 shares of the firm’s stock in a transaction dated Thursday, June 11th. The shares were acquired at an average price of $29.41 per share, with a total value of $117,640.00. Following the purchase, the director directly owned 4,000 shares of the company’s stock, valued at $117,640. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 30.60% of the company’s stock.

Fresh Del Monte Produce Trading Up 1.3%

Shares of FDP stock opened at $30.66 on Thursday. The business’s fifty day moving average price is $28.94 and its 200 day moving average price is $35.70. Fresh Del Monte Produce, Inc. has a 1-year low of $26.47 and a 1-year high of $43.58. The firm has a market capitalization of $1.46 billion, a PE ratio of 21.14 and a beta of 0.22. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.34 and a quick ratio of 1.10.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on FDP shares. Wall Street Zen cut Fresh Del Monte Produce from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Weiss Ratings lowered Fresh Del Monte Produce from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, June 17th. One research analyst has rated the stock with a Hold rating, According to MarketBeat.com, the company presently has a consensus rating of “Hold”.

Fresh Del Monte Produce 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.