KBC Group NV Sells 236 Shares of Fresh Del Monte Produce, Inc. (FDP)
KBC Group NV cut its position in shares of Fresh Del Monte Produce, Inc. (NYSE:FDP) by 0.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 27,410 shares of the company’s stock after selling 236 shares during the period. KBC Group NV owned about 0.05% of Fresh Del Monte Produce worth $1,395,000 as of its most recent filing with the SEC.
Other large investors also recently added to or reduced their stakes in the company. BlackRock Inc. raised its stake in Fresh Del Monte Produce by 1,147.2% in the first quarter. BlackRock Inc. now owns 2,383,366 shares of the company’s stock worth $141,167,000 after buying an additional 2,192,263 shares during the period. Icon Advisers Inc. Co. bought a new stake in Fresh Del Monte Produce during the first quarter worth $320,000. Renaissance Technologies LLC raised its stake in Fresh Del Monte Produce by 5.9% in the first quarter. Renaissance Technologies LLC now owns 629,400 shares of the company’s stock worth $37,279,000 after buying an additional 34,900 shares during the period. Nomura Holdings Inc. bought a new stake in Fresh Del Monte Produce during the first quarter worth $399,000. Finally, Wells Fargo & Company MN raised its stake in Fresh Del Monte Produce by 6.5% in the first quarter. Wells Fargo & Company MN now owns 112,727 shares of the company’s stock worth $6,677,000 after buying an additional 6,891 shares during the period. 66.81% of the stock is owned by institutional investors.
Shares of Fresh Del Monte Produce, Inc. (FDP) opened at 47.30 on Thursday. Fresh Del Monte Produce, Inc. has a 1-year low of $46.09 and a 1-year high of $66.86. The stock has a 50 day moving average price of $49.68 and a 200-day moving average price of $54.10. The company has a market cap of $2.37 billion, a price-to-earnings ratio of 15.04 and a beta of 0.42.
Fresh Del Monte Produce (NYSE:FDP) last posted its quarterly earnings data on Tuesday, August 1st. The company reported $1.40 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.55 by $0.15. The company had revenue of $1.15 billion for the quarter. Fresh Del Monte Produce had a return on equity of 10.23% and a net margin of 3.99%. The business’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.75 earnings per share. Equities research analysts forecast that Fresh Del Monte Produce, Inc. will post $3.88 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 8th. Investors of record on Wednesday, August 16th will be given a dividend of $0.15 per share. The ex-dividend date is Monday, August 14th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.27%. Fresh Del Monte Produce’s payout ratio is currently 18.93%.
Separately, Zacks Investment Research lowered Fresh Del Monte Produce from a “hold” rating to a “sell” rating in a research note on Monday, May 15th.
In related news, VP Sergio Mancilla sold 3,642 shares of the stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $49.50, for a total transaction of $180,279.00. Following the completion of the transaction, the vice president now owns 1,642 shares of the company’s stock, valued at approximately $81,279. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Richard Contreras sold 7,320 shares of the stock in a transaction that occurred on Thursday, August 3rd. The stock was sold at an average price of $48.84, for a total transaction of $357,508.80. Following the transaction, the chief financial officer now directly owns 7,320 shares of the company’s stock, valued at approximately $357,508.80. The disclosure for this sale can be found here. Insiders have sold a total of 50,823 shares of company stock valued at $2,485,405 in the last ninety days. 36.90% of the stock is currently owned by corporate insiders.
About Fresh Del Monte Produce
Fresh Del Monte Produce Inc is a holding company. The Company, through its subsidiaries, is engaged in sourcing, transportation and marketing of fresh and fresh-cut produce together with prepared food products in Europe, Africa and the Middle East. Its operations are aggregated into business segments on the basis of its products: bananas, other fresh produce and prepared food.
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