Trexquant Investment LP Takes $479,000 Position in Fresh Del Monte Produce (FDP)

Trexquant Investment LP bought a new stake in shares of Fresh Del Monte Produce (NYSE:FDP) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 10,578 shares of the company’s stock, valued at approximately $479,000.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. SG Americas Securities LLC bought a new stake in Fresh Del Monte Produce during the 1st quarter valued at approximately $235,000. Algert Global LLC bought a new stake in Fresh Del Monte Produce during the 1st quarter valued at approximately $3,542,000. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp bought a new stake in Fresh Del Monte Produce during the 4th quarter valued at approximately $1,006,000. MetLife Investment Advisors LLC bought a new stake in Fresh Del Monte Produce during the 4th quarter valued at approximately $746,000. Finally, Thomas J. Herzfeld Advisors Inc. raised its stake in Fresh Del Monte Produce by 17.7% during the 4th quarter. Thomas J. Herzfeld Advisors Inc. now owns 36,500 shares of the company’s stock valued at $1,740,000 after purchasing an additional 5,500 shares during the period. 62.61% of the stock is currently owned by institutional investors.

Separately, TheStreet raised Fresh Del Monte Produce from a “c+” rating to a “b+” rating in a research note on Tuesday, May 1st.

NYSE:FDP opened at $46.37 on Monday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.30 and a current ratio of 2.52. Fresh Del Monte Produce has a 1 year low of $43.02 and a 1 year high of $53.71. The company has a market capitalization of $2.26 billion, a price-to-earnings ratio of 19.00 and a beta of 0.44.

Fresh Del Monte Produce (NYSE:FDP) last released its quarterly earnings data on Tuesday, May 1st. The company reported $0.88 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.91 by ($0.03). Fresh Del Monte Produce had a return on equity of 6.70% and a net margin of 2.79%. The firm had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.28 billion. During the same period in the previous year, the firm earned $0.84 EPS. The business’s revenue was up 7.1% compared to the same quarter last year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 1st. Shareholders of record on Wednesday, May 9th will be paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 1.29%. The ex-dividend date of this dividend is Tuesday, May 8th.

Fresh Del Monte Produce declared that its board has authorized a stock buyback plan on Wednesday, February 21st that authorizes the company to buyback $300.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire shares of its stock through open market purchases. Shares buyback plans are often an indication that the company’s board believes its stock is undervalued.

In other Fresh Del Monte Produce news, Director Michael J. Berthelot sold 1,332 shares of Fresh Del Monte Produce stock in a transaction that occurred on Monday, March 19th. The stock was sold at an average price of $47.04, for a total value of $62,657.28. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Madeleine L. Champion sold 6,000 shares of Fresh Del Monte Produce stock in a transaction that occurred on Tuesday, March 6th. The stock was sold at an average price of $46.84, for a total value of $281,040.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 9,462 shares of company stock worth $443,983. Corporate insiders own 39.00% of the company’s stock.

About Fresh Del Monte Produce

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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Institutional Ownership by Quarter for Fresh Del Monte Produce (NYSE:FDP)

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