Charles Schwab Investment Management Inc. Has $33.08 Million Stock Holdings in Fresh Del Monte Produce, Inc. $FDP

Charles Schwab Investment Management Inc. lessened its position in Fresh Del Monte Produce, Inc. (NYSE:FDP) by 2.6% during the fourth quarter, Holdings Channel reports. The institutional investor owned 928,421 shares of the company’s stock after selling 24,709 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Fresh Del Monte Produce were worth $33,080,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of FDP. EverSource Wealth Advisors LLC raised its position in Fresh Del Monte Produce by 390.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 962 shares of the company’s stock valued at $31,000 after buying an additional 766 shares during the last quarter. Larson Financial Group LLC raised its position in Fresh Del Monte Produce by 1,488.5% in the 3rd quarter. Larson Financial Group LLC now owns 969 shares of the company’s stock valued at $34,000 after buying an additional 908 shares during the last quarter. Geneos Wealth Management Inc. raised its position in Fresh Del Monte Produce by 238.1% in the 2nd quarter. Geneos Wealth Management Inc. now owns 1,065 shares of the company’s stock valued at $35,000 after buying an additional 750 shares during the last quarter. Leonteq Securities AG acquired a new stake in Fresh Del Monte Produce in the 4th quarter valued at approximately $39,000. Finally, Sunbelt Securities Inc. acquired a new stake in Fresh Del Monte Produce in the 3rd quarter valued at approximately $77,000. Institutional investors and hedge funds own 64.83% of the company’s stock.

Fresh Del Monte Produce Stock Down 7.7%

NYSE:FDP opened at $32.52 on Friday. The firm has a market capitalization of $1.55 billion, a price-to-earnings ratio of 22.43 and a beta of 0.30. Fresh Del Monte Produce, Inc. has a twelve month low of $31.68 and a twelve month high of $43.58. The stock’s 50 day moving average price is $40.58 and its two-hundred day moving average price is $38.65. The company has a quick ratio of 1.10, a current ratio of 2.34 and a debt-to-equity ratio of 0.22.

Fresh Del Monte Produce (NYSE:FDP) last posted its quarterly earnings results on Wednesday, May 6th. The company reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.01. The firm had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.03 billion. Fresh Del Monte Produce had a return on equity of 7.61% and a net margin of 1.63%.The business’s quarterly revenue was down 4.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.63 EPS.

Fresh Del Monte Produce Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 11th. Stockholders of record on Tuesday, May 19th will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 3.7%. The ex-dividend date is Tuesday, May 19th. Fresh Del Monte Produce’s payout ratio is currently 82.76%.

Insider Activity at Fresh Del Monte Produce

In other news, SVP Marissa R. Tenazas sold 1,969 shares of Fresh Del Monte Produce stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $42.28, for a total transaction of $83,249.32. Following the completion of the transaction, the senior vice president directly owned 6,428 shares in the company, valued at approximately $271,775.84. The trade was a 23.45% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Gianpaolo Renino sold 6,297 shares of Fresh Del Monte Produce stock in a transaction that occurred on Friday, March 6th. The stock was sold at an average price of $41.46, for a total value of $261,073.62. Following the transaction, the senior vice president owned 3,198 shares of the company’s stock, valued at $132,589.08. This represents a 66.32% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 33,151 shares of company stock worth $1,391,225 in the last three months. 30.60% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of brokerages recently issued reports on FDP. Weiss Ratings lowered Fresh Del Monte Produce from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, May 11th. Wall Street Zen lowered Fresh Del Monte Produce from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. One analyst has rated the stock with a Hold rating, According to data from MarketBeat, the stock has a consensus rating of “Hold”.

Fresh Del Monte Produce Company Profile

Fresh Del Monte Produce Inc is a leading producer, marketer and distributor of fresh and fresh-cut fruits and vegetables worldwide. The company offers a wide range of products including bananas, pineapples, melons, grapes and avocados, along with value-added items such as fruit salads, vegetable trays and snack packs under the Del Monte® brand.

Founded in 1989 as a spin-off from Del Monte, Fresh Del Monte has developed a global supply chain that spans production farms, ripening facilities and packaging centers across Latin America, North America, Europe, Asia and Africa.