Fresh Del Monte Produce Inc. (NYSE:FDP) Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company reduced its stake in Fresh Del Monte Produce Inc. (NYSE:FDP) by 11.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 143,304 shares of the company’s stock after selling 18,348 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.30% of Fresh Del Monte Produce worth $3,131,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Millennium Management LLC boosted its holdings in Fresh Del Monte Produce by 17.5% in the 2nd quarter. Millennium Management LLC now owns 636,423 shares of the company’s stock worth $13,906,000 after acquiring an additional 94,854 shares during the period. AQR Capital Management LLC lifted its position in shares of Fresh Del Monte Produce by 7.7% during the second quarter. AQR Capital Management LLC now owns 337,076 shares of the company’s stock worth $7,365,000 after purchasing an additional 24,111 shares in the last quarter. Cubist Systematic Strategies LLC boosted its stake in shares of Fresh Del Monte Produce by 27.1% in the second quarter. Cubist Systematic Strategies LLC now owns 186,347 shares of the company’s stock valued at $4,072,000 after purchasing an additional 39,768 shares during the period. Point72 DIFC Ltd acquired a new stake in Fresh Del Monte Produce during the 2nd quarter valued at $91,000. Finally, Marshall Wace LLP purchased a new stake in Fresh Del Monte Produce during the 2nd quarter worth $930,000. 64.83% of the stock is owned by hedge funds and other institutional investors.

Fresh Del Monte Produce Price Performance

FDP stock opened at $29.02 on Wednesday. The stock’s 50 day moving average is $28.42 and its two-hundred day moving average is $25.42. Fresh Del Monte Produce Inc. has a 52-week low of $21.23 and a 52-week high of $30.59. The company has a market capitalization of $1.39 billion, a PE ratio of -56.90 and a beta of 0.41. The company has a quick ratio of 1.07, a current ratio of 2.08 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 analysts’ consensus estimates of $0.60 by $0.46. Fresh Del Monte Produce had a negative net margin of 0.43% and a positive return on equity of 4.87%. The business had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.18 billion. During the same quarter in the previous year, the firm earned $0.99 earnings per share. The business’s revenue was down 3.5% compared to the same quarter last year.

Fresh Del Monte Produce Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 6th. Stockholders of record on Thursday, August 15th were paid a $0.25 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.45%. Fresh Del Monte Produce’s dividend payout ratio (DPR) is presently -196.08%.

Insider Transactions at Fresh Del Monte Produce

In other Fresh Del Monte Produce news, Director Mary Ann Cloyd sold 1,689 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $27.20, for a total transaction of $45,940.80. Following the sale, the director now owns 22,188 shares in the company, valued at $603,513.60. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, Director Mary Ann Cloyd sold 1,689 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $27.20, for a total value of $45,940.80. Following the completion of the sale, the director now directly owns 22,188 shares in the company, valued at approximately $603,513.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Alexandre Apparecido sold 1,500 shares of the firm’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $27.56, for a total value of $41,340.00. Following the transaction, the vice president now owns 1,139 shares in the company, valued at $31,390.84. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 10,915 shares of company stock valued at $301,603. Insiders own 30.10% of the company’s stock.

Analysts Set New Price Targets

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

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.