SummerHaven Investment Management LLC Boosts Stake in Fresh Del Monte Produce Inc. (NYSE:FDP)

SummerHaven Investment Management LLC grew its holdings in Fresh Del Monte Produce Inc. (NYSE:FDP) by 1.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 28,467 shares of the company’s stock after purchasing an additional 437 shares during the period. SummerHaven Investment Management LLC owned approximately 0.06% of Fresh Del Monte Produce worth $747,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Strs Ohio acquired a new position in Fresh Del Monte Produce in the third quarter valued at about $41,000. SG Americas Securities LLC purchased a new position in shares of Fresh Del Monte Produce during the 3rd quarter worth approximately $177,000. Quantbot Technologies LP increased its holdings in Fresh Del Monte Produce by 1,526.5% in the 3rd quarter. Quantbot Technologies LP now owns 8,214 shares of the company’s stock valued at $212,000 after purchasing an additional 7,709 shares during the last quarter. Leuthold Group LLC purchased a new stake in Fresh Del Monte Produce in the third quarter valued at approximately $223,000. Finally, Penserra Capital Management LLC raised its position in Fresh Del Monte Produce by 60.8% in the third quarter. Penserra Capital Management LLC now owns 8,910 shares of the company’s stock valued at $230,000 after purchasing an additional 3,370 shares during the period. 64.83% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, TheStreet cut Fresh Del Monte Produce from a “b-” rating to a “c” rating in a research note on Monday, February 26th.

Fresh Del Monte Produce Price Performance

NYSE FDP opened at $25.71 on Tuesday. The company has a quick ratio of 1.01, a current ratio of 2.12 and a debt-to-equity ratio of 0.21. The stock has a 50-day moving average of $24.96 and a two-hundred day moving average of $24.80. Fresh Del Monte Produce Inc. has a 1-year low of $21.41 and a 1-year high of $29.13.

Fresh Del Monte Produce (NYSE:FDP) last posted its quarterly earnings data on Monday, February 26th. The company reported $0.25 EPS for the quarter, missing the consensus estimate of $0.31 by ($0.06). Fresh Del Monte Produce had a negative net margin of 0.26% and a positive return on equity of 5.11%. The business had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $1.03 billion. During the same period in the previous year, the business posted $0.45 EPS. The company’s revenue for the quarter was down 3.0% compared to the same quarter last year.

Fresh Del Monte Produce Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Thursday, March 7th were given a dividend of $0.25 per share. The ex-dividend date was Wednesday, March 6th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.89%. This is a positive change from Fresh Del Monte Produce’s previous quarterly dividend of $0.20. Fresh Del Monte Produce’s dividend payout ratio is currently -400.00%.

Insider Activity

In other Fresh Del Monte Produce news, CFO Monica Vicente sold 1,083 shares of the stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $24.35, for a total value of $26,371.05. Following the sale, the chief financial officer now owns 5,266 shares of the company’s stock, valued at approximately $128,227.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Ghazaleh Amir Abu acquired 10,000 shares of the firm’s stock in a transaction dated Wednesday, February 28th. The stock was acquired at an average cost of $23.62 per share, with a total value of $236,200.00. Following the transaction, the director now owns 3,264,308 shares in the company, valued at $77,102,954.96. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Monica Vicente sold 1,083 shares of the business’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $24.35, for a total transaction of $26,371.05. Following the transaction, the chief financial officer now owns 5,266 shares of the company’s stock, valued at approximately $128,227.10. The disclosure for this sale can be found here. Over the last three months, insiders have sold 10,569 shares of company stock worth $258,509. Corporate insiders own 36.96% of the company’s stock.

Fresh Del Monte Produce 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.