Fresh Del Monte Produce, Inc. $FDP Shares Sold by Dean Capital Management

Key Points

• Dean Capital Management reduced its holdings in Fresh Del Monte Produce by 24.4%, leaving it with approximately 27,686 shares worth $854,000.
• Fresh Del Monte's recent earnings report showed a better-than-expected $1.23 EPS and 3.8% revenue growth year-over-year, totaling $1.18 billion in revenue.
• The company recently announced a quarterly dividend of $0.30, indicating a 3.4% dividend yield and a payout ratio of 38.46%.

Dean Capital Management lessened its holdings in Fresh Del Monte Produce, Inc. (NYSE:FDP - Free Report) by 24.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 27,686 shares of the company's stock after selling 8,917 shares during the quarter. Dean Capital Management owned about 0.06% of Fresh Del Monte Produce worth $854,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. McIlrath & Eck LLC acquired a new position in Fresh Del Monte Produce in the 4th quarter worth approximately $48,000. State of Wyoming acquired a new position in Fresh Del Monte Produce in the 4th quarter valued at $54,000. Quantinno Capital Management LP acquired a new position in Fresh Del Monte Produce in the 4th quarter valued at $202,000. Kestra Private Wealth Services LLC acquired a new position in Fresh Del Monte Produce in the 1st quarter valued at $235,000. Finally, Magnetar Financial LLC acquired a new position in Fresh Del Monte Produce in the 1st quarter valued at $247,000. Institutional investors and hedge funds own 64.83% of the company's stock.

Fresh Del Monte Produce Stock Down 0.9%

Shares of FDP opened at $35.17 on Wednesday. Fresh Del Monte Produce, Inc. has a 52-week low of $26.50 and a 52-week high of $40.75. The company has a market capitalization of $1.69 billion, a PE ratio of 11.27 and a beta of 0.43. The stock has a fifty day simple moving average of $35.43 and a two-hundred day simple moving average of $33.25. The company has a quick ratio of 1.11, a current ratio of 2.08 and a debt-to-equity ratio of 0.10.

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

Fresh Del Monte Produce Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 5th. Shareholders of record on Wednesday, August 13th were paid 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 dividend yield of 3.4%. Fresh Del Monte Produce's dividend payout ratio (DPR) is 38.46%.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen raised Fresh Del Monte Produce from a "buy" rating to a "strong-buy" rating in a research note on Saturday, August 9th.

Insider Buying and Selling

In other Fresh Del Monte Produce news, SVP Ziad Nabulsi sold 1,000 shares of the firm's stock in a transaction on Tuesday, August 5th. The stock was sold at an average price of $35.95, for a total value of $35,950.00. Following the completion of the sale, the senior vice president directly owned 10,498 shares of the company's stock, valued at $377,403.10. This trade represents a 8.70% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Gianpaolo Renino sold 12,192 shares of the firm's stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $36.53, for a total value of $445,373.76. Following the completion of the sale, the senior vice president directly owned 3,197 shares of the company's stock, valued at $116,786.41. This trade represents a 79.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 137,039 shares of company stock valued at $5,010,709 over the last 90 days. Insiders own 30.10% 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.

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