Fresh Del Monte Produce, Inc. $FDP Shares Sold by Goldman Sachs Group Inc.

Key Points

• Goldman Sachs Group Inc. reduced its stake in Fresh Del Monte Produce by 13.2%, now holding 169,232 shares valued at approximately $5.2 million.
• Several other institutional investors also acquired positions in Fresh Del Monte Produce, leading to a total institutional ownership of 64.83%.
• Fresh Del Monte Produce reported earnings of $1.23 per share for the last quarter, significantly exceeding analyst expectations of $0.95.

Goldman Sachs Group Inc. trimmed its holdings in Fresh Del Monte Produce, Inc. (NYSE:FDP - Free Report) by 13.2% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 169,232 shares of the company's stock after selling 25,771 shares during the quarter. Goldman Sachs Group Inc. owned about 0.35% of Fresh Del Monte Produce worth $5,217,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Millennium Management LLC raised its stake in shares of 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 buying an additional 562,356 shares during the period. LSV Asset Management boosted its stake in Fresh Del Monte Produce by 68.8% during the 1st quarter. LSV Asset Management now owns 580,018 shares of the company's stock valued at $17,882,000 after purchasing an additional 236,476 shares during the last quarter. Cubist Systematic Strategies LLC purchased a new position in shares of Fresh Del Monte Produce in the 1st quarter worth $6,523,000. GAMMA Investing LLC raised its holdings in 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 increased its holdings in shares of Fresh Del Monte Produce by 95.8% in the first quarter. Allianz Asset Management GmbH now owns 377,312 shares of the company's stock worth $11,633,000 after purchasing an additional 184,573 shares during the last quarter. 64.83% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Insider Buying and Selling at Fresh Del Monte Produce

In other news, SVP Gianpaolo Renino sold 12,192 shares of the business's stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $36.53, for a total transaction of $445,373.76. Following the transaction, the senior vice president directly owned 3,197 shares in the company, valued at $116,786.41. The trade was a 79.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Ghazaleh Mohammad Abu sold 50,000 shares of the business's stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $35.92, for a total transaction of $1,796,000.00. Following the transaction, the chief executive officer owned 4,990,782 shares in the company, valued at approximately $179,268,889.44. This trade represents a 0.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 137,039 shares of company stock valued at $5,010,709. Company insiders own 31.60% of the company's stock.

Fresh Del Monte Produce Price Performance

Fresh Del Monte Produce stock traded down $0.56 during midday trading on Friday, reaching $35.72. The company had a trading volume of 1,085,493 shares, compared to its average volume of 281,274. The company has a market capitalization of $1.71 billion, a P/E ratio of 11.45 and a beta of 0.43. Fresh Del Monte Produce, Inc. has a 12-month low of $26.50 and a 12-month high of $40.75. The firm's fifty day simple moving average is $35.82 and its 200-day simple moving average is $33.54. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.08 and a quick ratio of 1.11.

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

Fresh Del Monte Produce Announces Dividend

The firm also recently disclosed 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 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 payout ratio is currently 38.46%.

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.