Navellier & Associates Inc. Purchases Shares of 76,156 Fresh Del Monte Produce, Inc. $FDP

Key Points

• Navellier & Associates acquired 76,156 Fresh Del Monte Produce shares in the second quarter, valued at approximately $2.13 million. Institutional investors collectively own 64.83% of the company.
• Director Ahmad Abu-Ghazaleh purchased 4,000 shares for about $117,640, while company insiders collectively own 30.60% of the stock.
• Analyst sentiment remains cautious, with recent downgrades leaving Fresh Del Monte at an overall “Hold” rating. Shares opened at $31.87, with a $1.52 billion market capitalization and a 52-week range of $26.47 to $43.58.

Navellier & Associates Inc. acquired a new position in shares of Fresh Del Monte Produce, Inc. (NYSE:FDP - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 76,156 shares of the company's stock, valued at approximately $2,126,000. Navellier & Associates Inc. owned approximately 0.16% of Fresh Del Monte Produce as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Wellington Management Group LLP boosted its position in shares of Fresh Del Monte Produce by 1.1% during the second quarter. Wellington Management Group LLP now owns 151,651 shares of the company's stock valued at $4,233,000 after buying an additional 1,599 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new stake in Fresh Del Monte Produce in the 2nd quarter valued at $62,000. Parvin Asset Management LLC bought a new position in Fresh Del Monte Produce during the 2nd quarter valued at $25,000. Hennion & Walsh Asset Management Inc. lifted its stake in Fresh Del Monte Produce by 25.1% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 34,782 shares of the company's stock valued at $971,000 after acquiring an additional 6,987 shares in the last quarter. Finally, Versant Capital Management Inc boosted its holdings in Fresh Del Monte Produce by 92.8% during the 2nd quarter. Versant Capital Management Inc now owns 1,591 shares of the company's stock worth $44,000 after acquiring an additional 766 shares during the last quarter. 64.83% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Ahmad Abu-Ghazaleh bought 4,000 shares of Fresh Del Monte Produce stock in a transaction dated Thursday, June 11th. The stock was purchased at an average cost of $29.41 per share, with a total value of $117,640.00. Following the transaction, the director directly owned 4,000 shares of the company's stock, valued at approximately $117,640. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 30.60% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

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

Fresh Del Monte Produce Trading Up 1.5%

Shares of Fresh Del Monte Produce stock opened at $31.87 on Friday. The firm has a market cap of $1.52 billion, a PE ratio of 21.98 and a beta of 0.22. Fresh Del Monte Produce, Inc. has a 1 year low of $26.47 and a 1 year high of $43.58. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.34 and a quick ratio of 1.10. The stock has a fifty day moving average price of $29.53 and a 200-day moving average price of $35.05.

Fresh Del Monte Produce Profile

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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