Fresh Del Monte Produce Inc. (NYSE:FDP) Stake Lessened by Invenomic Capital Management LP

Invenomic Capital Management LP reduced its position in shares of Fresh Del Monte Produce Inc. (NYSE:FDP) by 16.0% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 314,246 shares of the company’s stock after selling 59,904 shares during the quarter. Invenomic Capital Management LP owned about 0.66% of Fresh Del Monte Produce worth $9,283,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in FDP. Chesapeake Capital Corp IL bought a new position in Fresh Del Monte Produce in the third quarter worth $592,000. Cubist Systematic Strategies LLC raised its holdings in Fresh Del Monte Produce by 27.1% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 186,347 shares of the company’s stock valued at $4,072,000 after acquiring an additional 39,768 shares during the period. Exchange Traded Concepts LLC increased its holdings in Fresh Del Monte Produce by 112.9% in the 3rd quarter. Exchange Traded Concepts LLC now owns 57,690 shares of the company’s stock valued at $1,704,000 after buying an additional 30,595 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new stake in shares of Fresh Del Monte Produce during the second quarter valued at about $391,000. Finally, Millennium Management LLC lifted its stake in shares of Fresh Del Monte Produce by 17.5% in the 2nd quarter. Millennium Management LLC now owns 636,423 shares of the company’s stock valued at $13,906,000 after purchasing an additional 94,854 shares during the period. 64.83% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Fresh Del Monte Produce Trading Up 3.5 %

FDP stock opened at $34.92 on Tuesday. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.09 and a quick ratio of 1.04. The company has a market capitalization of $1.67 billion, a PE ratio of 105.82 and a beta of 0.41. The firm’s 50-day moving average is $31.13 and its 200 day moving average is $27.15. Fresh Del Monte Produce Inc. has a 12 month low of $21.23 and a 12 month high of $35.27.

Fresh Del Monte Produce (NYSE:FDP) last announced its earnings results on Thursday, October 31st. The company reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.47 by $0.30. Fresh Del Monte Produce had a return on equity of 5.91% and a net margin of 0.36%. The company had revenue of $1.02 billion for the quarter, compared to analyst estimates of $989.45 million. During the same quarter in the previous year, the company earned $0.35 earnings per share. The firm’s quarterly revenue was up 1.6% compared to the same quarter last year.

Fresh Del Monte Produce Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Thursday, November 14th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.86%. The ex-dividend date of this dividend is Thursday, November 14th. Fresh Del Monte Produce’s dividend payout ratio is currently 303.04%.

About Fresh Del Monte Produce

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.