Principal Financial Group Inc. Sells 17,434 Shares of Fresh Del Monte Produce Inc. (NYSE:FDP)

Principal Financial Group Inc. lowered its position in Fresh Del Monte Produce Inc. (NYSE:FDP) by 9.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 158,209 shares of the company’s stock after selling 17,434 shares during the period. Principal Financial Group Inc.’s holdings in Fresh Del Monte Produce were worth $4,673,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Charles Schwab Investment Management Inc. increased its holdings in Fresh Del Monte Produce by 5.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,060,576 shares of the company’s stock valued at $31,329,000 after purchasing an additional 59,521 shares in the last quarter. Barclays PLC grew its holdings in shares of Fresh Del Monte Produce by 185.7% during the third quarter. Barclays PLC now owns 70,694 shares of the company’s stock worth $2,087,000 after purchasing an additional 45,952 shares during the last quarter. Chesapeake Capital Corp IL acquired a new stake in shares of Fresh Del Monte Produce in the third quarter valued at $592,000. D.A. Davidson & CO. bought a new position in shares of Fresh Del Monte Produce in the third quarter valued at about $583,000. Finally, Franklin Resources Inc. lifted its position in Fresh Del Monte Produce by 18.0% during the 3rd quarter. Franklin Resources Inc. now owns 36,710 shares of the company’s stock worth $1,066,000 after buying an additional 5,587 shares in the last quarter. 64.83% of the stock is owned by institutional investors and hedge funds.

Fresh Del Monte Produce Stock Down 0.9 %

Shares of NYSE:FDP opened at $32.92 on Friday. The company has a quick ratio of 1.04, a current ratio of 2.09 and a debt-to-equity ratio of 0.14. The firm has a market cap of $1.58 billion, a P/E ratio of 99.76 and a beta of 0.41. Fresh Del Monte Produce Inc. has a 12 month low of $21.23 and a 12 month high of $35.27. The company’s 50-day moving average price is $33.28 and its two-hundred day moving average price is $28.85.

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

Fresh Del Monte Produce Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Thursday, November 14th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 3.04%. The ex-dividend date of this dividend was Thursday, November 14th. Fresh Del Monte Produce’s dividend payout ratio (DPR) is presently 303.03%.

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.