Fresh Del Monte Produce Inc. (NYSE:FDP) Shares Sold by Invenomic Capital Management LP

Invenomic Capital Management LP lowered its stake in shares of Fresh Del Monte Produce Inc. (NYSE:FDP) by 13.5% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 271,884 shares of the company’s stock after selling 42,362 shares during the period. Invenomic Capital Management LP owned about 0.57% of Fresh Del Monte Produce worth $9,029,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Parvin Asset Management LLC purchased a new position in Fresh Del Monte Produce during the fourth quarter valued at approximately $30,000. Sterling Capital Management LLC increased its holdings in shares of Fresh Del Monte Produce by 795.0% during the 4th quarter. Sterling Capital Management LLC now owns 1,083 shares of the company’s stock valued at $36,000 after purchasing an additional 962 shares in the last quarter. Sherman Asset Management Inc. acquired a new position in shares of Fresh Del Monte Produce in the 4th quarter valued at $54,000. Signaturefd LLC boosted its holdings in Fresh Del Monte Produce by 244.3% during the fourth quarter. Signaturefd LLC now owns 1,663 shares of the company’s stock worth $55,000 after buying an additional 1,180 shares in the last quarter. Finally, HHM Wealth Advisors LLC grew its position in Fresh Del Monte Produce by 75.0% during the fourth quarter. HHM Wealth Advisors LLC now owns 1,750 shares of the company’s stock valued at $58,000 after buying an additional 750 shares during the period. Institutional investors and hedge funds own 64.83% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com downgraded shares of Fresh Del Monte Produce from a “buy” rating to a “hold” rating in a research report on Tuesday, March 25th.

Insider Activity at Fresh Del Monte Produce

In other news, SVP Ziad Nabulsi sold 1,725 shares of Fresh Del Monte Produce stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $30.42, for a total value of $52,474.50. Following the sale, the senior vice president now directly owns 11,498 shares of the company’s stock, valued at $349,769.16. The trade was a 13.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Marissa R. Tenazas sold 1,148 shares of the stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $31.05, for a total value of $35,645.40. Following the completion of the transaction, the senior vice president now directly owns 3,573 shares of the company’s stock, valued at approximately $110,941.65. This represents a 24.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 10,469 shares of company stock valued at $319,190. 31.60% of the stock is owned by corporate insiders.

Fresh Del Monte Produce Stock Performance

Shares of FDP stock opened at $32.97 on Friday. The company has a current ratio of 2.09, a quick ratio of 1.04 and a debt-to-equity ratio of 0.14. Fresh Del Monte Produce Inc. has a 12-month low of $21.23 and a 12-month high of $35.27. The business’s 50 day moving average is $31.49 and its two-hundred day moving average is $31.92. The company has a market capitalization of $1.58 billion, a P/E ratio of 99.91 and a beta of 0.36.

Fresh Del Monte Produce (NYSE:FDP) last announced its earnings results on Wednesday, April 30th. The company reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.01. The firm had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.12 billion. Fresh Del Monte Produce had a return on equity of 5.91% and a net margin of 0.36%. The business’s revenue was down .9% on a year-over-year basis. During the same quarter last year, the firm posted $0.34 EPS.

Fresh Del Monte Produce Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Wednesday, May 14th will be given a dividend of $0.30 per share. The ex-dividend date of this dividend is Wednesday, May 14th. This represents a $1.20 annualized dividend and a dividend yield of 3.64%. Fresh Del Monte Produce’s dividend payout ratio (DPR) is presently 39.22%.

Fresh Del Monte Produce declared that its board has authorized a share buyback program on Monday, February 24th that allows the company to repurchase $150.00 million in outstanding shares. This repurchase authorization allows the company to purchase up to 10.4% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

About Fresh Del Monte Produce

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.