Penn Capital Management Company LLC Buys 20,844 Shares of Fresh Del Monte Produce Inc $DMC

Penn Capital Management Company LLC bought a new position in Fresh Del Monte Produce Inc (NYSE:DMC) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 20,844 shares of the company’s stock, valued at approximately $624,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. AlphaCore Capital LLC purchased a new position in shares of Fresh Del Monte Produce in the 3rd quarter worth about $1,350,000. Moss Adams Wealth Advisors LLC bought a new position in Fresh Del Monte Produce in the 3rd quarter worth about $201,000. MGO One Seven LLC purchased a new stake in Fresh Del Monte Produce during the 3rd quarter valued at about $233,000. Signaturefd LLC grew its position in Fresh Del Monte Produce by 212.0% during the 3rd quarter. Signaturefd LLC now owns 4,374 shares of the company’s stock valued at $131,000 after purchasing an additional 2,972 shares during the last quarter. Finally, Outfitters Financial LLC increased its stake in Fresh Del Monte Produce by 1.2% during the 3rd quarter. Outfitters Financial LLC now owns 33,070 shares of the company’s stock valued at $991,000 after purchasing an additional 400 shares in the last quarter. 64.83% of the stock is currently owned by institutional investors.

Fresh Del Monte Produce Trading Down 1.6%

Shares of DMC opened at $27.47 on Wednesday. The stock has a market cap of $1.30 billion, a P/E ratio of 10.94 and a beta of 0.25. The company’s fifty day simple moving average is $29.95. Fresh Del Monte Produce Inc has a 12 month low of $26.09 and a 12 month high of $43.58. The company has a current ratio of 2.30, a quick ratio of 0.93 and a debt-to-equity ratio of 0.24.

Fresh Del Monte Produce (NYSE:DMC) last posted its quarterly earnings results on Thursday, October 29th. The company reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.04. The firm had revenue of $1.10 billion during the quarter. Fresh Del Monte Produce had a return on equity of 5.96% and a net margin of 1.86%. The firm’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.69 EPS.

Fresh Del Monte Produce Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 4th. Investors of record on Wednesday, November 11th will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 4.4%. The ex-dividend date is Tuesday, November 10th. Fresh Del Monte Produce’s dividend payout ratio (DPR) is presently 70.18%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Weiss Ratings lowered shares of Fresh Del Monte Produce from a “hold (c)” rating to a “hold (c-)” rating in a research note on Friday, October 30th. Wall Street Zen downgraded shares of Fresh Del Monte Produce from a “buy” rating to a “hold” rating in a research note on Saturday, October 31st. Finally, Freedom Broker initiated coverage on shares of Fresh Del Monte Produce in a research note on Wednesday, November 4th. They issued a “hold” rating on the stock. Two analysts have rated the stock with a Hold rating. According to MarketBeat.com, Fresh Del Monte Produce presently has a consensus rating of “Hold”.

Fresh Del Monte Produce Profile

Fresh Del Monte Produce Inc. is a global producer, marketer and distributor of fresh and prepared food products. Its offerings include bananas, pineapples, melons and other fresh fruit, as well as vegetables, fresh-cut produce, juices and prepared foods. The company manages activities across the supply chain, including growing and sourcing produce, processing, packaging, transporting and distributing products. It serves customers in North America, Europe, the Middle East, Africa and Asia. Fresh Del Monte is part of the broader Del Monte brand heritage and operates as an independent company.