Edgestream Partners L.P. Acquires Shares of 137,607 Fresh Del Monte Produce, Inc. (NYSE:FDP)

Edgestream Partners L.P. purchased a new position in shares of Fresh Del Monte Produce, Inc. (NYSE:FDP - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 137,607 shares of the company's stock, valued at approximately $4,242,000. Edgestream Partners L.P. owned 0.29% of Fresh Del Monte Produce at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. Parvin Asset Management LLC purchased a new position in Fresh Del Monte Produce during the 4th quarter valued at about $30,000. Sterling Capital Management LLC boosted its holdings in 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 acquiring an additional 962 shares during the period. McIlrath & Eck LLC purchased a new position in Fresh Del Monte Produce during the 4th quarter valued at about $48,000. State of Wyoming purchased a new position in Fresh Del Monte Produce during the 4th quarter valued at about $54,000. Finally, Signaturefd LLC boosted its holdings in Fresh Del Monte Produce by 244.3% during the 4th quarter. Signaturefd LLC now owns 1,663 shares of the company's stock valued at $55,000 after acquiring an additional 1,180 shares during the period. 64.83% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen cut Fresh Del Monte Produce from a "buy" rating to a "hold" rating in a research note on Tuesday, March 25th.

Fresh Del Monte Produce Stock Performance

Shares of FDP stock traded up $0.05 during midday trading on Friday, hitting $33.80. The company had a trading volume of 314,166 shares, compared to its average volume of 336,660. The company's 50 day simple moving average is $33.31 and its 200 day simple moving average is $31.97. Fresh Del Monte Produce, Inc. has a 52-week low of $23.10 and a 52-week high of $35.69. The stock has a market cap of $1.62 billion, a price-to-earnings ratio of 11.05 and a beta of 0.38. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.05 and a quick ratio of 1.01.

Fresh Del Monte Produce (NYSE:FDP - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The company reported $0.63 earnings per share for the quarter, beating analysts' consensus estimates of $0.62 by $0.01. Fresh Del Monte Produce had a return on equity of 6.52% and a net margin of 3.45%. The firm had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.12 billion. During the same period in the previous year, the business earned $0.34 earnings per share. The company's revenue for the quarter was down .9% compared to the same quarter last year.

Fresh Del Monte Produce Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 6th. Shareholders of record on Wednesday, May 14th were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Wednesday, May 14th. This represents a $1.20 dividend on an annualized basis and a yield of 3.55%. Fresh Del Monte Produce's payout ratio is 39.22%.

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.