Lazard Asset Management LLC Purchases 53,597 Shares of Fresh Del Monte Produce, Inc. $FDP

Lazard Asset Management LLC raised its position in shares of Fresh Del Monte Produce, Inc. (NYSE:FDP) by 63.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 138,416 shares of the company’s stock after buying an additional 53,597 shares during the period. Lazard Asset Management LLC owned about 0.29% of Fresh Del Monte Produce worth $5,573,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the company. EverSource Wealth Advisors LLC boosted its holdings in shares of Fresh Del Monte Produce by 390.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 962 shares of the company’s stock worth $31,000 after acquiring an additional 766 shares in the last quarter. Larson Financial Group LLC increased its holdings in Fresh Del Monte Produce by 1,488.5% during the 3rd quarter. Larson Financial Group LLC now owns 969 shares of the company’s stock valued at $34,000 after purchasing an additional 908 shares in 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 purchasing an additional 750 shares during the last quarter. Leonteq Securities AG bought a new position in Fresh Del Monte Produce in the 4th quarter valued at $39,000. Finally, Aster Capital Management DIFC Ltd acquired a new position in Fresh Del Monte Produce in the fourth quarter worth $61,000. Institutional investors own 64.83% of the company’s stock.

Fresh Del Monte Produce Stock Performance

FDP stock opened at $29.82 on Friday. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.34 and a quick ratio of 1.10. The company has a 50 day moving average price of $29.29 and a 200 day moving average price of $36.15. Fresh Del Monte Produce, Inc. has a fifty-two week low of $26.47 and a fifty-two week high of $43.58. The stock has a market capitalization of $1.42 billion, a PE ratio of 20.57 and a beta of 0.22.

Fresh Del Monte Produce (NYSE:FDP) last announced its quarterly earnings data on Wednesday, May 6th. The company reported $0.63 EPS for the quarter, beating analysts’ consensus estimates 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% compared to the same quarter last year. During the same period last year, the company earned $0.63 EPS.

Insider Activity

In other news, Director Ahmad Abu-Ghazaleh purchased 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 11th. The shares were acquired at an average price of $29.41 per share, for a total transaction of $117,640.00. Following the completion of the acquisition, the director directly owned 4,000 shares in the company, valued at approximately $117,640. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 30.60% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

FDP has been the subject of a number of research reports. Weiss Ratings lowered Fresh Del Monte Produce from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, June 17th. Wall Street Zen downgraded shares of Fresh Del Monte Produce from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat.com, Fresh Del Monte Produce presently has a consensus rating of “Hold”.

Fresh Del Monte Produce 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.