12,781 Shares in Fresh Del Monte Produce, Inc. $FDP Acquired by Ballentine Partners LLC

Key Points

• Ballentine Partners LLC acquired 12,781 shares of Fresh Del Monte Produce, valued at approximately $414,000, according to a recent SEC filing.
• Fresh Del Monte Produce reported $1.23 earnings per share for the last quarter, surpassing analysts' expectations of $0.95, and had a revenue of $1.18 billion.
• The company announced a quarterly dividend of $0.30 per share, representing an annualized yield of 3.4%.

Ballentine Partners LLC bought a new position in Fresh Del Monte Produce, Inc. (NYSE:FDP - Free Report) in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 12,781 shares of the company's stock, valued at approximately $414,000.

A number of other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in Fresh Del Monte Produce by 2.8% in the 1st quarter. Vanguard Group Inc. now owns 4,943,089 shares of the company's stock worth $152,395,000 after buying an additional 133,638 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in Fresh Del Monte Produce by 2.7% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,135,569 shares of the company's stock valued at $35,010,000 after purchasing an additional 30,216 shares during the last quarter. American Century Companies Inc. lifted its position in Fresh Del Monte Produce by 15.9% in the first quarter. American Century Companies Inc. now owns 1,101,091 shares of the company's stock valued at $33,947,000 after purchasing an additional 150,983 shares during the last quarter. Invesco Ltd. lifted its position in Fresh Del Monte Produce by 1.2% in the first quarter. Invesco Ltd. now owns 930,921 shares of the company's stock valued at $28,700,000 after purchasing an additional 11,309 shares during the last quarter. Finally, Millennium Management LLC lifted its position in Fresh Del Monte Produce by 1,647.2% in the first quarter. Millennium Management LLC now owns 596,496 shares of the company's stock valued at $18,390,000 after purchasing an additional 562,356 shares during the last quarter. Institutional investors own 64.83% of the company's stock.

Fresh Del Monte Produce Trading Up 1.9%

NYSE FDP opened at $34.99 on Friday. Fresh Del Monte Produce, Inc. has a 12 month low of $26.50 and a 12 month high of $40.75. The stock has a market cap of $1.68 billion, a P/E ratio of 11.22 and a beta of 0.43. The stock's fifty day moving average price is $35.97 and its 200-day moving average price is $33.72. The company has a current ratio of 2.08, a quick ratio of 1.11 and a debt-to-equity ratio of 0.10.

Fresh Del Monte Produce (NYSE:FDP - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The company reported $1.23 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.95 by $0.28. The firm had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.16 billion. Fresh Del Monte Produce had a return on equity of 6.84% and a net margin of 3.49%.The company's quarterly revenue was up 3.8% on a year-over-year basis. During the same period in the prior year, the company posted $1.06 earnings per share.

Fresh Del Monte Produce Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 5th. Shareholders of record on Wednesday, August 13th were issued a $0.30 dividend. The ex-dividend date of this dividend was Wednesday, August 13th. This represents a $1.20 dividend on an annualized basis and a yield of 3.4%. Fresh Del Monte Produce's dividend payout ratio is currently 38.46%.

Insider Transactions at Fresh Del Monte Produce

In other Fresh Del Monte Produce news, SVP Ziad Nabulsi sold 1,000 shares of the stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $35.95, for a total value of $35,950.00. Following the transaction, the senior vice president owned 10,498 shares of the company's stock, valued at approximately $377,403.10. This represents a 8.70% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Ghazaleh Mohammad Abu sold 50,000 shares of the stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $35.92, for a total value of $1,796,000.00. Following the completion of the transaction, the chief executive officer directly owned 4,990,782 shares in the company, valued at approximately $179,268,889.44. This represents a 0.99% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 137,039 shares of company stock worth $5,010,709 in the last ninety days. Insiders own 31.60% of the company's stock.

Analyst Ratings Changes

Separately, Wall Street Zen downgraded Fresh Del Monte Produce from a "strong-buy" rating to a "buy" rating in a research report on Saturday, September 13th.

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.

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