IQ EQ FUND MANAGEMENT IRELAND Ltd Grows Stock Holdings in Fresh Del Monte Produce Inc. (NYSE:FDP)

IQ EQ FUND MANAGEMENT IRELAND Ltd grew its stake in Fresh Del Monte Produce Inc. (NYSE:FDP) by 6.4% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 76,334 shares of the company’s stock after purchasing an additional 4,566 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd owned approximately 0.16% of Fresh Del Monte Produce worth $2,255,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in Fresh Del Monte Produce by 3.2% in the 1st quarter. Vanguard Group Inc. now owns 4,600,314 shares of the company’s stock valued at $119,194,000 after buying an additional 143,363 shares in the last quarter. American Century Companies Inc. grew its holdings in shares of Fresh Del Monte Produce by 29.8% in the second quarter. American Century Companies Inc. now owns 681,344 shares of the company’s stock valued at $14,887,000 after purchasing an additional 156,344 shares during the period. Millennium Management LLC increased its position in Fresh Del Monte Produce by 17.5% during the second quarter. Millennium Management LLC now owns 636,423 shares of the company’s stock worth $13,906,000 after purchasing an additional 94,854 shares during the last quarter. Invenomic Capital Management LP boosted its holdings in Fresh Del Monte Produce by 11.8% in the 1st quarter. Invenomic Capital Management LP now owns 385,584 shares of the company’s stock valued at $9,990,000 after purchasing an additional 40,609 shares during the last quarter. Finally, LSV Asset Management grew its stake in shares of Fresh Del Monte Produce by 31.4% in the 2nd quarter. LSV Asset Management now owns 370,095 shares of the company’s stock valued at $8,087,000 after buying an additional 88,498 shares during the period. Institutional investors and hedge funds own 64.83% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded Fresh Del Monte Produce from a “hold” rating to a “buy” rating in a report on Monday, August 5th.

Insiders Place Their Bets

In other news, VP Reyes Jorge Pelaez sold 5,417 shares of the stock in a transaction on Monday, August 19th. The stock was sold at an average price of $27.75, for a total value of $150,321.75. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, Director Mary Ann Cloyd sold 1,689 shares of the firm’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $27.20, for a total value of $45,940.80. Following the sale, the director now directly owns 22,188 shares in the company, valued at approximately $603,513.60. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Reyes Jorge Pelaez sold 5,417 shares of the business’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $27.75, for a total transaction of $150,321.75. The disclosure for this sale can be found here. Insiders sold a total of 10,915 shares of company stock worth $301,603 over the last 90 days. Corporate insiders own 30.10% of the company’s stock.

Fresh Del Monte Produce Price Performance

FDP opened at $29.86 on Thursday. The stock’s 50-day moving average price is $28.75 and its 200 day moving average price is $25.56. Fresh Del Monte Produce Inc. has a 12-month low of $21.23 and a 12-month high of $30.59. The firm has a market cap of $1.43 billion, a price-to-earnings ratio of -58.55 and a beta of 0.41. The company has a current ratio of 2.08, a quick ratio of 1.07 and a debt-to-equity ratio of 0.15.

Fresh Del Monte Produce (NYSE:FDP) last issued its quarterly earnings results on Thursday, August 1st. The company reported $1.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.46. The business had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.18 billion. Fresh Del Monte Produce had a negative net margin of 0.43% and a positive return on equity of 4.87%. The business’s quarterly revenue was down 3.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.99 earnings per share.

Fresh Del Monte Produce Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 6th. Shareholders of record on Thursday, August 15th were given a $0.25 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $1.00 annualized dividend and a yield of 3.35%. Fresh Del Monte Produce’s dividend payout ratio is presently -196.08%.

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.