Principal Financial Group Inc. Sells 17,434 Shares of Fresh Del Monte Produce Inc. (NYSE:FDP)

Principal Financial Group Inc. cut its holdings in shares of Fresh Del Monte Produce Inc. (NYSE:FDP) by 9.9% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 158,209 shares of the company’s stock after selling 17,434 shares during the period. Principal Financial Group Inc.’s holdings in Fresh Del Monte Produce were worth $4,673,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. SG Americas Securities LLC increased its position in shares of Fresh Del Monte Produce by 3.4% in the third quarter. SG Americas Securities LLC now owns 17,357 shares of the company’s stock valued at $513,000 after acquiring an additional 576 shares during the last quarter. Hsbc Holdings PLC increased its position in shares of Fresh Del Monte Produce by 2.2% during the 2nd quarter. Hsbc Holdings PLC now owns 27,260 shares of the company’s stock worth $596,000 after purchasing an additional 594 shares during the last quarter. SummerHaven Investment Management LLC raised its stake in shares of Fresh Del Monte Produce by 2.3% during the 2nd quarter. SummerHaven Investment Management LLC now owns 29,493 shares of the company’s stock worth $644,000 after purchasing an additional 659 shares in the last quarter. Summit Global Investments boosted its holdings in shares of Fresh Del Monte Produce by 2.8% in the 2nd quarter. Summit Global Investments now owns 27,726 shares of the company’s stock valued at $606,000 after buying an additional 756 shares during the last quarter. Finally, GAMMA Investing LLC grew its stake in shares of Fresh Del Monte Produce by 232.1% in the second quarter. GAMMA Investing LLC now owns 1,604 shares of the company’s stock valued at $35,000 after buying an additional 1,121 shares in the last quarter. 64.83% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, StockNews.com raised shares of Fresh Del Monte Produce from a “hold” rating to a “buy” rating in a research report on Monday, August 5th.

Fresh Del Monte Produce Stock Down 0.8 %

Shares of FDP stock opened at $33.60 on Friday. Fresh Del Monte Produce Inc. has a 52-week low of $21.23 and a 52-week high of $35.27. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.04 and a current ratio of 2.09. The stock has a market cap of $1.61 billion, a price-to-earnings ratio of 101.82 and a beta of 0.41. The firm’s 50-day moving average is $30.58 and its 200-day moving average is $26.72.

Fresh Del Monte Produce (NYSE:FDP) last released its quarterly earnings data on Thursday, October 31st. The company reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.47 by $0.30. The company had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $989.45 million. Fresh Del Monte Produce had a return on equity of 5.91% and a net margin of 0.36%. The business’s revenue was up 1.6% on a year-over-year basis. During the same period last year, the firm posted $0.35 earnings per share.

Fresh Del Monte Produce Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Thursday, November 14th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $1.00 dividend on an annualized basis and a yield of 2.98%. Fresh Del Monte Produce’s dividend payout ratio (DPR) is 303.04%.

Fresh Del Monte Produce Company Profile

Fresh Del Monte Produce Inc, through its subsidiaries, produces, markets, and distributes fresh and fresh-cut fruits and vegetables in North America, Central America, South America, Europe, the Middle East, Africa, Asia, and internationally. It operates through three segments: Fresh and Value-Added Products, Banana, and Other Products and Services.