First Trust Advisors LP Lowers Holdings in Fresh Del Monte Produce, Inc. $FDP

Key Points

• First Trust Advisors LP cut its Fresh Del Monte Produce stake by 46.2% in the first quarter, selling 101,892 shares and retaining 118,496 shares valued at approximately $4.77 million.
• Institutional ownership stands at 64.83%, while corporate insiders own 30.60%; director Ahmad Abu-Ghazaleh also purchased 4,000 shares for roughly $117,640.
• Fresh Del Monte slightly exceeded quarterly earnings expectations with EPS of $0.63 and revenue of $1.04 billion, although revenue fell 4.9% year over year. Analysts maintain a consensus “Hold” rating, and the stock recently traded near $29.98.

First Trust Advisors LP reduced its position in shares of Fresh Del Monte Produce, Inc. (NYSE:FDP - Free Report) by 46.2% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 118,496 shares of the company's stock after selling 101,892 shares during the quarter. First Trust Advisors LP owned about 0.25% of Fresh Del Monte Produce worth $4,771,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Fisher Asset Management LLC bought a new stake in shares of Fresh Del Monte Produce in the fourth quarter valued at about $21,174,000. Deroy & Devereaux Private Investment Counsel Inc. lifted its stake in Fresh Del Monte Produce by 52.0% in the fourth quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 99,065 shares of the company's stock worth $3,530,000 after acquiring an additional 33,890 shares during the period. Teacher Retirement System of Texas grew its holdings in Fresh Del Monte Produce by 14.2% during the 4th quarter. Teacher Retirement System of Texas now owns 204,388 shares of the company's stock worth $7,282,000 after acquiring an additional 25,347 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Fresh Del Monte Produce by 142.9% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 28,398 shares of the company's stock worth $1,012,000 after acquiring an additional 16,705 shares in the last quarter. Finally, Hussman Strategic Advisors Inc. increased its position in Fresh Del Monte Produce by 100.0% during the 4th quarter. Hussman Strategic Advisors Inc. now owns 42,000 shares of the company's stock valued at $1,496,000 after purchasing an additional 21,000 shares during the period. 64.83% of the stock is owned by institutional investors.

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Insider Transactions at Fresh Del Monte Produce

In other Fresh Del Monte Produce news, Director Ahmad Abu-Ghazaleh purchased 4,000 shares of the firm's stock in a transaction on Thursday, June 11th. The stock was bought at an average cost of $29.41 per share, for a total transaction of $117,640.00. Following the completion of the purchase, the director owned 4,000 shares in the company, valued at $117,640. This represents a ∞ increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 30.60% of the stock is owned by corporate insiders.

Fresh Del Monte Produce Stock Performance

FDP stock opened at $29.98 on Wednesday. The firm has a market cap of $1.43 billion, a price-to-earnings ratio of 20.68 and a beta of 0.22. The firm has a 50-day simple moving average of $29.08 and a two-hundred day simple moving average of $36.01. Fresh Del Monte Produce, Inc. has a one year low of $26.47 and a one year high of $43.58. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.10 and a current ratio of 2.34.

Fresh Del Monte Produce (NYSE:FDP - Get Free Report) last released its quarterly earnings results on Wednesday, May 6th. 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 net margin of 1.63% and a return on equity of 7.61%. The business had revenue of $1.04 billion for the quarter, compared to analysts' expectations of $1.03 billion. During the same period last year, the business earned $0.63 EPS. The company's revenue was down 4.9% compared to the same quarter last year.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on FDP shares. Wall Street Zen cut shares of Fresh Del Monte Produce from a "buy" rating to a "hold" rating in a research report on Saturday, May 9th. Weiss Ratings lowered shares of Fresh Del Monte Produce from a "hold (c+)" rating to a "hold (c)" rating in a report on Wednesday, June 17th. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold".

About Fresh Del Monte Produce

Fresh Del Monte Produce Inc is a leading producer, marketer and distributor of fresh and fresh-cut fruits and vegetables worldwide. The company offers a wide range of products including bananas, pineapples, melons, grapes and avocados, along with value-added items such as fruit salads, vegetable trays and snack packs under the Del Monte® brand.

Founded in 1989 as a spin-off from Del Monte, Fresh Del Monte has developed a global supply chain that spans production farms, ripening facilities and packaging centers across Latin America, North America, Europe, Asia and Africa.

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