Royal Bank of Canada Increases Stake in Fresh Del Monte Produce Inc. (NYSE:FDP)

Royal Bank of Canada grew its position in Fresh Del Monte Produce Inc. (NYSE:FDP) by 8,806.5% in the second quarter, HoldingsChannel.com reports. The firm owned 62,613 shares of the company’s stock after acquiring an additional 61,910 shares during the period. Royal Bank of Canada’s holdings in Fresh Del Monte Produce were worth $2,060,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Exchange Traded Concepts LLC boosted its position in shares of Fresh Del Monte Produce by 10.5% in the second quarter. Exchange Traded Concepts LLC now owns 43,112 shares of the company’s stock worth $1,418,000 after purchasing an additional 4,104 shares during the period. State of Alaska Department of Revenue boosted its position in shares of Fresh Del Monte Produce by 2.5% in the second quarter. State of Alaska Department of Revenue now owns 21,040 shares of the company’s stock worth $691,000 after purchasing an additional 514 shares during the period. Goldman Sachs Group Inc. boosted its position in shares of Fresh Del Monte Produce by 74.0% in the first quarter. Goldman Sachs Group Inc. now owns 94,084 shares of the company’s stock worth $2,693,000 after purchasing an additional 39,998 shares during the period. American Century Companies Inc. boosted its position in shares of Fresh Del Monte Produce by 371.1% in the second quarter. American Century Companies Inc. now owns 48,159 shares of the company’s stock worth $1,583,000 after purchasing an additional 37,936 shares during the period. Finally, Arizona State Retirement System boosted its position in shares of Fresh Del Monte Produce by 7.8% in the second quarter. Arizona State Retirement System now owns 9,658 shares of the company’s stock worth $318,000 after purchasing an additional 695 shares during the period. Institutional investors and hedge funds own 67.97% of the company’s stock.

In related news, CEO Mohammad Abu-Ghazaleh sold 11,288 shares of the company’s stock in a transaction on Thursday, September 2nd. The shares were sold at an average price of $32.62, for a total transaction of $368,214.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In the last 90 days, insiders have sold 42,714 shares of company stock valued at $1,398,202. 30.20% of the stock is owned by company insiders.

Shares of NYSE:FDP opened at $27.30 on Thursday. The company has a current ratio of 1.78, a quick ratio of 0.86 and a debt-to-equity ratio of 0.26. The stock’s fifty day moving average is $30.91. Fresh Del Monte Produce Inc. has a fifty-two week low of $22.92 and a fifty-two week high of $36.57. The company has a market capitalization of $1.30 billion, a price-to-earnings ratio of 14.07 and a beta of 0.74.

Fresh Del Monte Produce (NYSE:FDP) last issued its earnings results on Wednesday, November 3rd. The company reported $0.01 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.30 by ($0.29). Fresh Del Monte Produce had a return on equity of 4.73% and a net margin of 2.17%. The company had revenue of $1 billion for the quarter, compared to the consensus estimate of $1.04 billion. During the same quarter in the prior year, the company posted $0.35 EPS. Fresh Del Monte Produce’s revenue was up 1.5% compared to the same quarter last year.

The business also recently announced a quarterly dividend, which will be paid on Friday, December 10th. Investors of record on Wednesday, November 17th will be given a dividend of $0.15 per share. The ex-dividend date is Tuesday, November 16th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.20%. Fresh Del Monte Produce’s dividend payout ratio is 30.93%.

Separately, TheStreet lowered shares of Fresh Del Monte Produce from a “b-” rating to a “c+” rating in a research report on Wednesday, November 17th.

About Fresh Del Monte Produce

Fresh Del Monte Produce, Inc engages in production and distribution of fresh fruit and vegetables products. It operates through the following segments: Bananas and Fresh and Value-added products segments. The Bananas segment produces banana. The Fresh and Value-added products segment includes sales of pineapples, melons, non-tropical fruit (including grapes, apples, citrus, blueberries, strawberries, pears, peaches, plums, nectarines, cherries and kiwis), other fruit and vegetables, avocados, fresh-cut fruit and vegetables, prepared fruit and vegetables, juices, other beverages, prepared meals and snacks.

See Also: Diversification

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

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