Dean Capital Management Sells 8,917 Shares of Fresh Del Monte Produce, Inc. $FDP

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 lowered its holdings in Fresh Del Monte Produce, Inc. (NYSE:FDP - Free Report) by 24.4% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor 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 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently bought and sold shares of FDP. Millennium Management LLC boosted its stake 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 worth $18,390,000 after purchasing an additional 562,356 shares in the last quarter. LSV Asset Management lifted its stake in shares of Fresh Del Monte Produce by 68.8% during the first quarter. LSV Asset Management now owns 580,018 shares of the company's stock valued at $17,882,000 after acquiring an additional 236,476 shares during the period. Cubist Systematic Strategies LLC acquired a new position in shares of Fresh Del Monte Produce during the first quarter valued at $6,523,000. GAMMA Investing LLC lifted its stake in shares of Fresh Del Monte Produce by 2,671.9% during the first quarter. GAMMA Investing LLC now owns 207,393 shares of the company's stock valued at $6,727,000 after acquiring an additional 199,911 shares during the period. Finally, Allianz Asset Management GmbH lifted its stake in shares of Fresh Del Monte Produce by 95.8% during the first quarter. Allianz Asset Management GmbH now owns 377,312 shares of the company's stock valued at $11,633,000 after acquiring an additional 184,573 shares during the period. Institutional investors and hedge funds own 64.83% of the company's stock.

Fresh Del Monte Produce Trading Down 0.9%

NYSE FDP traded down $0.32 on Monday, reaching $35.29. The company had a trading volume of 68,113 shares, compared to its average volume of 369,291. The stock has a market cap of $1.69 billion, a price-to-earnings ratio of 11.30 and a beta of 0.43. The company has a quick ratio of 1.11, a current ratio of 2.08 and a debt-to-equity ratio of 0.10. The stock's 50 day moving average is $35.57 and its 200-day moving average is $33.39. Fresh Del Monte Produce, Inc. has a 52 week low of $26.50 and a 52 week high of $40.75.

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

Fresh Del Monte Produce Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 5th. Investors of record on Wednesday, August 13th were issued a dividend of $0.30 per share. The ex-dividend date 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 presently 38.46%.

Wall Street Analysts Forecast Growth

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

Insider Transactions at Fresh Del Monte Produce

In related news, SVP Gianpaolo Renino sold 12,192 shares of the stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $36.53, for a total transaction of $445,373.76. Following the completion of the transaction, the senior vice president directly owned 3,197 shares in the company, valued at approximately $116,786.41. This trade represents a 79.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Ghazaleh Mohammad Abu sold 50,000 shares of the stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $35.92, for a total value of $1,796,000.00. Following the transaction, the chief executive officer owned 4,990,782 shares of the company's stock, valued at approximately $179,268,889.44. The trade was a 0.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 137,039 shares of company stock valued at $5,010,709 in the last ninety days. Corporate insiders own 30.10% of the company's stock.

Fresh Del Monte Produce 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.