O Shaughnessy Asset Management LLC raised its stake in shares of Fresh Del Monte Produce Inc (NYSE:FDP) by 0.3% during the first quarter, Holdings Channel reports. The institutional investor owned 87,250 shares of the company’s stock after buying an additional 294 shares during the period. O Shaughnessy Asset Management LLC owned approximately 0.17% of Fresh Del Monte Produce worth $5,168,000 as of its most recent SEC filing.
Other hedge funds have also added to or reduced their stakes in the company. Fortaleza Asset Management Inc. acquired a new stake in Fresh Del Monte Produce during the fourth quarter valued at about $116,000. Pacad Investment Ltd. acquired a new stake in Fresh Del Monte Produce during the fourth quarter valued at about $127,000. DekaBank Deutsche Girozentrale acquired a new stake in Fresh Del Monte Produce during the first quarter valued at about $258,000. Eqis Capital Management Inc. raised its stake in Fresh Del Monte Produce by 24.8% in the first quarter. Eqis Capital Management Inc. now owns 4,558 shares of the company’s stock valued at $270,000 after buying an additional 907 shares in the last quarter. Finally, Thomas J. Herzfeld Advisors Inc. acquired a new stake in Fresh Del Monte Produce during the fourth quarter valued at about $303,000. Hedge funds and other institutional investors own 63.80% of the company’s stock.
Fresh Del Monte Produce Inc (NYSE:FDP) traded down 0.30% during mid-day trading on Friday, reaching $52.36. The company’s stock had a trading volume of 178,330 shares. The firm has a 50 day moving average price of $56.30 and a 200 day moving average price of $58.96. Fresh Del Monte Produce Inc has a 52-week low of $51.13 and a 52-week high of $66.86. The company has a market cap of $2.68 billion, a price-to-earnings ratio of 14.31 and a beta of 0.31.
Fresh Del Monte Produce (NYSE:FDP) last announced its earnings results on Tuesday, May 2nd. The company reported $0.84 earnings per share for the quarter, missing analysts’ consensus estimates of $1.17 by $0.33. Fresh Del Monte Produce had a return on equity of 12.62% and a net margin of 3.47%. The business had revenue of $1.03 billion during the quarter, compared to analysts’ expectations of $1.05 billion. During the same quarter in the previous year, the firm earned $1.57 EPS. Fresh Del Monte Produce’s quarterly revenue was up 1.4% on a year-over-year basis. Equities research analysts anticipate that Fresh Del Monte Produce Inc will post $3.79 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 2nd. Stockholders of record on Wednesday, May 10th will be paid a $0.15 dividend. The ex-dividend date is Monday, May 8th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.15%. Fresh Del Monte Produce’s payout ratio is presently 22.06%.
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Separately, Zacks Investment Research upgraded Fresh Del Monte Produce from a “sell” rating to a “hold” rating in a research note on Tuesday, May 9th.
In other news, Director Hani El-Naffy sold 69,119 shares of the business’s stock in a transaction that occurred on Thursday, May 4th. The stock was sold at an average price of $52.67, for a total value of $3,640,497.73. Following the transaction, the director now owns 175,167 shares in the company, valued at approximately $9,226,045.89. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Chairman Mohammad Abu-Ghazaleh sold 50,000 shares of the business’s stock in a transaction that occurred on Friday, March 17th. The stock was sold at an average price of $58.15, for a total value of $2,907,500.00. Following the completion of the transaction, the chairman now owns 5,328,672 shares in the company, valued at approximately $309,862,276.80. The disclosure for this sale can be found here. Insiders sold a total of 266,948 shares of company stock worth $14,699,966 in the last 90 days. Company insiders own 37.80% of the company’s stock.
About Fresh Del Monte Produce
Fresh Del Monte Produce Inc is a holding company. The Company, through its subsidiaries, is engaged in sourcing, transportation and marketing of fresh and fresh-cut produce together with prepared food products in Europe, Africa and the Middle East. Its operations are aggregated into business segments on the basis of its products: bananas, other fresh produce and prepared food.
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