Wasatch Advisors LP Decreases Stock Holdings in Fresh Del Monte Produce, Inc. $FDP

Key Points

• Wasatch Advisors LP reduced its Fresh Del Monte Produce stake by 16.4% in the second quarter, selling 227,657 shares and retaining 1.16 million shares worth approximately $32.3 million, or 2.43% of the company.
• Institutional investors own 64.83% of Fresh Del Monte, while several firms—including Millennium Management and Jane Street—expanded their positions. A company director also bought 4,000 shares at an average price of $29.41.
• Analyst sentiment remains cautious: the stock has an average “Hold” rating. Shares opened at $30.66, with a market capitalization of $1.46 billion and a 52-week range of $26.47 to $43.58.

Wasatch Advisors LP cut its stake in Fresh Del Monte Produce, Inc. (NYSE:FDP - Free Report) by 16.4% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,157,304 shares of the company's stock after selling 227,657 shares during the period. Wasatch Advisors LP owned approximately 2.43% of Fresh Del Monte Produce worth $32,300,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Fresh Del Monte Produce by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,090 shares of the company's stock worth $619,000 after purchasing an additional 879 shares during the period. Millennium Management LLC grew its stake in shares of Fresh Del Monte Produce by 1,647.2% in the 1st 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. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Fresh Del Monte Produce by 10.7% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 94,910 shares of the company's stock worth $2,926,000 after buying an additional 9,202 shares during the last quarter. Jane Street Group LLC increased its holdings in shares of Fresh Del Monte Produce by 2,889.0% during the 1st quarter. Jane Street Group LLC now owns 122,716 shares of the company's stock worth $3,783,000 after buying an additional 127,116 shares during the last quarter. Finally, Prudential Financial Inc. increased its holdings in shares of Fresh Del Monte Produce by 25.4% during the 2nd quarter. Prudential Financial Inc. now owns 9,016 shares of the company's stock worth $292,000 after buying an additional 1,829 shares during the last quarter. Institutional investors and hedge funds own 64.83% of the company's stock.

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Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Weiss Ratings downgraded Fresh Del Monte Produce from a "hold (c+)" rating to a "hold (c)" rating in a research report on Wednesday, June 17th. Wall Street Zen cut 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, According to MarketBeat.com, the stock presently has an average rating of "Hold".

Insider Buying and Selling

In related news, Director Ahmad Abu-Ghazaleh acquired 4,000 shares of the stock in a transaction dated Thursday, June 11th. The stock was acquired at an average cost of $29.41 per share, with a total value of $117,640.00. Following the completion of the transaction, 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 filing with the SEC, which can be accessed through this hyperlink. 30.60% of the stock is owned by insiders.

Fresh Del Monte Produce Trading Up 1.3%

Shares of FDP stock opened at $30.66 on Thursday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.10 and a current ratio of 2.34. The stock has a market capitalization of $1.46 billion, a P/E ratio of 21.14 and a beta of 0.22. The company has a 50 day moving average price of $28.94 and a 200 day moving average price of $35.70. Fresh Del Monte Produce, Inc. has a fifty-two week low of $26.47 and a fifty-two week high of $43.58.

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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