Allianz Asset Management GmbH Reduces Stock Holdings in Fresh Del Monte Produce, Inc. $FDP

Allianz Asset Management GmbH cut its position in shares of Fresh Del Monte Produce, Inc. (NYSE:FDP) by 28.1% during the third quarter, Holdings Channel.com reports. The firm owned 512,467 shares of the company’s stock after selling 200,464 shares during the quarter. Allianz Asset Management GmbH’s holdings in Fresh Del Monte Produce were worth $17,793,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. EverSource Wealth Advisors LLC grew its stake in shares of Fresh Del Monte Produce by 390.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 962 shares of the company’s stock valued at $31,000 after buying an additional 766 shares during the period. Geneos Wealth Management Inc. raised its position in shares of Fresh Del Monte Produce by 238.1% during the 2nd quarter. Geneos Wealth Management Inc. now owns 1,065 shares of the company’s stock valued at $35,000 after buying an additional 750 shares during the period. Tower Research Capital LLC TRC lifted its holdings in Fresh Del Monte Produce by 34.7% in the second quarter. Tower Research Capital LLC TRC now owns 3,010 shares of the company’s stock valued at $98,000 after acquiring an additional 775 shares during the last quarter. BNP Paribas Financial Markets grew its position in Fresh Del Monte Produce by 34.2% in the second quarter. BNP Paribas Financial Markets now owns 3,543 shares of the company’s stock worth $115,000 after acquiring an additional 902 shares during the period. Finally, Corton Capital Inc. acquired a new stake in Fresh Del Monte Produce during the second quarter worth $203,000. 64.83% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Fresh Del Monte Produce

In related news, CEO Ghazaleh Mohammad Abu sold 28,558 shares of the company’s stock in a transaction that occurred on Monday, December 15th. The shares were sold at an average price of $38.42, for a total transaction of $1,097,198.36. Following the sale, the chief executive officer directly owned 4,962,224 shares in the company, valued at approximately $190,648,646.08. This represents a 0.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 31.60% of the company’s stock.

Fresh Del Monte Produce Price Performance

Shares of NYSE FDP opened at $38.45 on Friday. The stock’s 50-day moving average is $37.23 and its two-hundred day moving average is $36.13. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.09 and a quick ratio of 1.07. Fresh Del Monte Produce, Inc. has a 1-year low of $26.50 and a 1-year high of $40.75. The company has a market cap of $1.84 billion, a price-to-earnings ratio of 23.59 and a beta of 0.30.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on FDP shares. Wall Street Zen lowered shares of Fresh Del Monte Produce from a “buy” rating to a “hold” rating in a research note on Saturday, November 1st. Weiss Ratings restated a “hold (c+)” rating on shares of Fresh Del Monte Produce in a report on Monday, December 29th. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the company has a consensus rating of “Hold”.

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.