Bank of New York Mellon Corp Decreases Stake in Fresh Del Monte Produce Inc. (NYSE:FDP)

Bank of New York Mellon Corp trimmed its holdings in shares of Fresh Del Monte Produce Inc. (NYSE:FDP) by 9.8% during the second quarter, Holdings Channel reports. The fund owned 266,852 shares of the company’s stock after selling 28,834 shares during the quarter. Bank of New York Mellon Corp’s holdings in Fresh Del Monte Produce were worth $5,831,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of FDP. Parallel Advisors LLC increased its holdings in Fresh Del Monte Produce by 197.6% during the 4th quarter. Parallel Advisors LLC now owns 1,119 shares of the company’s stock worth $29,000 after purchasing an additional 743 shares during the last quarter. GAMMA Investing LLC grew its position in shares of Fresh Del Monte Produce by 232.1% during the second quarter. GAMMA Investing LLC now owns 1,604 shares of the company’s stock worth $35,000 after buying an additional 1,121 shares in the last quarter. Lazard Asset Management LLC bought a new stake in shares of Fresh Del Monte Produce in the first quarter worth $48,000. EntryPoint Capital LLC acquired a new stake in Fresh Del Monte Produce in the first quarter valued at $49,000. Finally, Advisors Asset Management Inc. bought a new position in Fresh Del Monte Produce during the 1st quarter valued at $174,000. Institutional investors and hedge funds own 64.83% of the company’s stock.

Insider Activity

In related news, VP Reyes Jorge Pelaez sold 5,417 shares of the stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $27.75, for a total transaction of $150,321.75. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, Director Mary Ann Cloyd sold 1,689 shares of the company’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $27.20, for a total transaction of $45,940.80. Following the completion of the transaction, the director now owns 22,188 shares in the company, valued at $603,513.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Reyes Jorge Pelaez sold 5,417 shares of Fresh Del Monte Produce stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $27.75, for a total transaction of $150,321.75. The disclosure for this sale can be found here. In the last three months, insiders sold 10,915 shares of company stock valued at $301,603. Company insiders own 30.10% of the company’s stock.

Analyst Ratings Changes

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 Trading Up 1.5 %

Shares of NYSE FDP opened at $28.48 on Friday. The company has a quick ratio of 1.07, a current ratio of 2.08 and a debt-to-equity ratio of 0.15. The stock’s 50 day moving average price is $26.17 and its two-hundred day moving average price is $24.81. Fresh Del Monte Produce Inc. has a 52-week low of $21.23 and a 52-week high of $30.59. The stock has a market capitalization of $1.36 billion, a P/E ratio of -55.84 and a beta of 0.42.

Fresh Del Monte Produce (NYSE:FDP) last posted its quarterly earnings results on Thursday, August 1st. The company reported $1.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.46. The business had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.18 billion. Fresh Del Monte Produce had a positive return on equity of 4.87% and a negative net margin of 0.43%. The business’s revenue was down 3.5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.99 EPS.

Fresh Del Monte Produce Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 6th. Stockholders of record on Thursday, August 15th were given 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 3.51%. Fresh Del Monte Produce’s payout ratio is currently -196.08%.

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.