LSV Asset Management Boosts Position in Fresh Del Monte Produce Inc. (NYSE:FDP)

LSV Asset Management lifted its position in Fresh Del Monte Produce Inc. (NYSE:FDP) by 20.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 246,202 shares of the company’s stock after purchasing an additional 41,998 shares during the quarter. LSV Asset Management owned about 0.51% of Fresh Del Monte Produce worth $6,463,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Summit Global Investments raised its position in shares of Fresh Del Monte Produce by 1.4% during the 4th quarter. Summit Global Investments now owns 32,670 shares of the company’s stock valued at $858,000 after buying an additional 463 shares during the period. SummerHaven Investment Management LLC boosted its stake in Fresh Del Monte Produce by 1.6% during the fourth quarter. SummerHaven Investment Management LLC now owns 28,467 shares of the company’s stock worth $747,000 after buying an additional 437 shares during the period. New York State Common Retirement Fund increased its position in shares of Fresh Del Monte Produce by 10.7% during the fourth quarter. New York State Common Retirement Fund now owns 30,585 shares of the company’s stock valued at $803,000 after acquiring an additional 2,964 shares during the last quarter. Illinois Municipal Retirement Fund lifted its holdings in Fresh Del Monte Produce by 8.2% during the 4th quarter. Illinois Municipal Retirement Fund now owns 18,766 shares of the company’s stock worth $493,000 after buying an additional 1,428 shares in the last quarter. Finally, Hussman Strategic Advisors Inc. purchased a new position in Fresh Del Monte Produce in the 4th quarter valued at approximately $551,000. 64.83% of the stock is currently owned by institutional investors and hedge funds.

Fresh Del Monte Produce Price Performance

Shares of FDP opened at $24.12 on Thursday. The stock has a market cap of $1.15 billion, a PE ratio of -47.29 and a beta of 0.54. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.16 and a quick ratio of 1.11. Fresh Del Monte Produce Inc. has a 1-year low of $21.41 and a 1-year high of $28.55. The firm has a fifty day moving average price of $25.14 and a 200 day moving average price of $24.77.

Fresh Del Monte Produce (NYSE:FDP) last released its quarterly earnings results on Thursday, May 2nd. The company reported $0.34 EPS for the quarter, missing the consensus estimate of $0.60 by ($0.26). The company had revenue of $1.11 billion for the quarter, compared to analysts’ expectations of $1.15 billion. Fresh Del Monte Produce had a positive return on equity of 4.59% and a negative net margin of 0.56%. Fresh Del Monte Produce’s revenue for the quarter was down 1.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.55 EPS.

Fresh Del Monte Produce Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Thursday, May 16th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 4.15%. The ex-dividend date is Wednesday, May 15th. Fresh Del Monte Produce’s dividend payout ratio (DPR) is -196.07%.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

In other news, Director Ghazaleh Amir Abu purchased 10,000 shares of the firm’s stock in a transaction dated Wednesday, February 28th. The shares were acquired at an average price of $23.62 per share, with a total value of $236,200.00. Following the purchase, the director now directly owns 3,264,308 shares of the company’s stock, valued at $77,102,954.96. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, Director Ghazaleh Amir Abu acquired 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 28th. The stock was purchased at an average cost of $23.62 per share, for a total transaction of $236,200.00. Following the transaction, the director now directly owns 3,264,308 shares of the company’s stock, valued at approximately $77,102,954.96. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Jesus Rodriguez Calvo sold 2,402 shares of the company’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $24.59, for a total value of $59,065.18. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 10,569 shares of company stock valued at $258,509. Corporate insiders own 36.96% of the company’s stock.

Fresh Del Monte Produce Company 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.