Paloma Partners Management Co acquired a new stake in Fresh Del Monte Produce Inc (NYSE:FDP) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 16,344 shares of the company’s stock, valued at approximately $729,000.
Several other large investors have also recently bought and sold shares of FDP. Bank of Montreal Can bought a new position in Fresh Del Monte Produce during the second quarter worth $136,000. Raymond James & Associates bought a new position in Fresh Del Monte Produce during the second quarter worth $215,000. Jane Street Group LLC bought a new position in Fresh Del Monte Produce during the first quarter worth $216,000. Xact Kapitalforvaltning AB bought a new position in Fresh Del Monte Produce during the first quarter worth $219,000. Finally, SG Americas Securities LLC bought a new position in Fresh Del Monte Produce during the first quarter worth $235,000. 61.72% of the stock is currently owned by institutional investors.
Separately, TheStreet lowered shares of Fresh Del Monte Produce from a “b-” rating to a “c+” rating in a research note on Friday, August 17th.
FDP traded down $0.70 during trading on Friday, hitting $30.11. 304,341 shares of the company’s stock were exchanged, compared to its average volume of 193,826. The company has a current ratio of 2.20, a quick ratio of 1.16 and a debt-to-equity ratio of 0.38. Fresh Del Monte Produce Inc has a fifty-two week low of $29.70 and a fifty-two week high of $52.43. The company has a market cap of $1.65 billion, a price-to-earnings ratio of 28.72 and a beta of 0.38.
Fresh Del Monte Produce (NYSE:FDP) last released its quarterly earnings data on Tuesday, July 31st. The company reported $0.14 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.27 by ($1.13). Fresh Del Monte Produce had a return on equity of 3.19% and a net margin of 0.91%. The business had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.28 billion. During the same quarter in the previous year, the company posted $1.40 EPS. The business’s quarterly revenue was up 10.9% on a year-over-year basis.
In other Fresh Del Monte Produce news, VP Sergio Mancilla sold 1,664 shares of the company’s stock in a transaction on Tuesday, August 7th. The shares were sold at an average price of $38.37, for a total transaction of $63,847.68. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Mohammad Abu-Ghazaleh sold 25,000 shares of the company’s stock in a transaction on Friday, August 24th. The stock was sold at an average price of $37.96, for a total transaction of $949,000.00. Following the transaction, the chief executive officer now owns 5,251,410 shares in the company, valued at approximately $199,343,523.60. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 102,406 shares of company stock worth $3,887,719. Corporate insiders own 39.00% of the company’s stock.
Fresh Del Monte Produce Profile
Fresh Del Monte Produce Inc, through its subsidiaries, produces, markets, and distributes fresh and fresh-cut fruits and vegetables worldwide. It offers fresh produce products consisting of bananas, pineapples, melons, tomatoes, grapes, apples, pears, peaches, plums, nectarines, cherries, citrus, avocados, blueberries, strawberries, and kiwi; various vegetables, including potatoes, onions, bell peppers, and cucumbers; and various other fruits, such as plantains and mangos.
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