Entropy Technologies LP Takes Position in Fresh Del Monte Produce Inc. (NYSE:FDP)

Entropy Technologies LP acquired a new position in shares of Fresh Del Monte Produce Inc. (NYSE:FDP) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 10,623 shares of the company’s stock, valued at approximately $314,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Jacobs Levy Equity Management Inc. bought a new position in shares of Fresh Del Monte Produce during the 1st quarter worth approximately $1,749,000. Cubist Systematic Strategies LLC boosted its holdings in Fresh Del Monte Produce by 27.1% during the second quarter. Cubist Systematic Strategies LLC now owns 186,347 shares of the company’s stock worth $4,072,000 after purchasing an additional 39,768 shares during the last quarter. Exchange Traded Concepts LLC grew its position in Fresh Del Monte Produce by 112.9% in the third quarter. Exchange Traded Concepts LLC now owns 57,690 shares of the company’s stock valued at $1,704,000 after purchasing an additional 30,595 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new stake in Fresh Del Monte Produce in the 2nd quarter valued at $391,000. Finally, Millennium Management LLC lifted its position in Fresh Del Monte Produce by 17.5% during the 2nd quarter. Millennium Management LLC now owns 636,423 shares of the company’s stock worth $13,906,000 after buying an additional 94,854 shares in the last quarter. Institutional investors and hedge funds own 64.83% of the company’s stock.

Insider Buying and Selling

In other news, VP Reyes Jorge Pelaez sold 5,417 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $27.75, for a total value of $150,321.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 30.10% of the stock is currently owned by corporate insiders.

Fresh Del Monte Produce Stock Up 1.0 %

NYSE:FDP opened at $33.78 on Friday. Fresh Del Monte Produce Inc. has a twelve month low of $21.23 and a twelve month high of $35.27. The firm has a market capitalization of $1.62 billion, a price-to-earnings ratio of 102.37 and a beta of 0.41. The company has a quick ratio of 1.04, a current ratio of 2.09 and a debt-to-equity ratio of 0.14. The stock’s 50 day moving average price is $30.15 and its two-hundred day moving average price is $26.50.

Fresh Del Monte Produce (NYSE:FDP) last issued its earnings results on Thursday, October 31st. The company reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.47 by $0.30. The business had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $989.45 million. Fresh Del Monte Produce had a net margin of 0.36% and a return on equity of 5.91%. The firm’s revenue for the quarter was up 1.6% on a year-over-year basis. During the same period in the previous year, the company earned $0.35 earnings per share.

Fresh Del Monte Produce Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Thursday, November 14th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $1.00 annualized dividend and a yield of 2.96%. Fresh Del Monte Produce’s dividend payout ratio (DPR) is currently 303.04%.

Analyst Upgrades and Downgrades

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

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.