Nordea Investment Management AB Takes Position in Fresh Del Monte Produce, Inc. $FDP

Nordea Investment Management AB bought a new stake in Fresh Del Monte Produce, Inc. (NYSE:FDP) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 51,396 shares of the company’s stock, valued at approximately $1,828,000. Nordea Investment Management AB owned approximately 0.11% of Fresh Del Monte Produce at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. EverSource Wealth Advisors LLC grew its stake in Fresh Del Monte Produce by 390.8% in the second quarter. EverSource Wealth Advisors LLC now owns 962 shares of the company’s stock valued at $31,000 after acquiring an additional 766 shares during the period. Larson Financial Group LLC raised its position in shares of Fresh Del Monte Produce by 1,488.5% during the third quarter. Larson Financial Group LLC now owns 969 shares of the company’s stock worth $34,000 after purchasing an additional 908 shares during the period. Geneos Wealth Management Inc. lifted its holdings in shares of Fresh Del Monte Produce by 238.1% in the 2nd quarter. Geneos Wealth Management Inc. now owns 1,065 shares of the company’s stock worth $35,000 after purchasing an additional 750 shares in the last quarter. Sunbelt Securities Inc. bought a new position in shares of Fresh Del Monte Produce in the 3rd quarter worth $77,000. Finally, Tower Research Capital LLC TRC grew its position in Fresh Del Monte Produce by 34.7% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,010 shares of the company’s stock valued at $98,000 after purchasing an additional 775 shares during the period. Institutional investors own 64.83% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on FDP shares. Weiss Ratings upgraded shares of Fresh Del Monte Produce from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, February 23rd. Wall Street Zen raised shares of Fresh Del Monte Produce from a “hold” rating to a “buy” rating in a research note on Saturday, February 21st. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy”.

Fresh Del Monte Produce Stock Up 1.0%

Shares of NYSE:FDP opened at $41.86 on Friday. The stock has a market cap of $1.98 billion, a price-to-earnings ratio of 22.27 and a beta of 0.28. The company has a quick ratio of 1.06, a current ratio of 2.16 and a debt-to-equity ratio of 0.09. Fresh Del Monte Produce, Inc. has a 12-month low of $29.03 and a 12-month high of $43.58. The business’s 50 day moving average is $40.62 and its 200 day moving average is $37.41.

Fresh Del Monte Produce (NYSE:FDP) last released its quarterly earnings results on Thursday, February 19th. The company reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.28 by $0.42. Fresh Del Monte Produce had a return on equity of 7.63% and a net margin of 2.10%.The business had revenue of $968.20 million during the quarter, compared to analyst estimates of $1.01 billion. During the same period in the prior year, the firm posted $0.26 EPS. Fresh Del Monte Produce’s quarterly revenue was up .6% compared to the same quarter last year.

Fresh Del Monte Produce Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 27th. Stockholders of record on Wednesday, March 4th were issued a $0.30 dividend. The ex-dividend date was Wednesday, March 4th. This represents a $1.20 annualized dividend and a dividend yield of 2.9%. Fresh Del Monte Produce’s dividend payout ratio is currently 63.83%.

Insider Buying and Selling

In other Fresh Del Monte Produce news, SVP Gianpaolo Renino sold 6,297 shares of the company’s stock in a transaction dated Friday, March 6th. The shares were sold at an average price of $41.46, for a total value of $261,073.62. Following the completion of the sale, the senior vice president directly owned 3,198 shares of the company’s stock, valued at approximately $132,589.08. This represents a 66.32% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Ziad Nabulsi sold 7,395 shares of the stock in a transaction dated Friday, March 6th. The shares were sold at an average price of $42.01, for a total transaction of $310,663.95. Following the completion of the sale, the senior vice president owned 8,397 shares of the company’s stock, valued at approximately $352,757.97. This trade represents a 46.83% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 32,105 shares of company stock valued at $1,348,967 over the last 90 days. 31.60% of the stock is currently owned by company insiders.

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.