Fresh Del Monte Produce Inc. (NYSE:FDP) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. cut its stake in shares of Fresh Del Monte Produce Inc. (NYSE:FDP - Free Report) by 9.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 158,209 shares of the company's stock after selling 17,434 shares during the quarter. Principal Financial Group Inc. owned approximately 0.33% of Fresh Del Monte Produce worth $4,673,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. nVerses Capital LLC bought a new stake in Fresh Del Monte Produce in the 2nd quarter valued at $28,000. GAMMA Investing LLC increased its position in Fresh Del Monte Produce by 232.1% in the second quarter. GAMMA Investing LLC now owns 1,604 shares of the company's stock worth $35,000 after purchasing an additional 1,121 shares during the last quarter. Lazard Asset Management LLC purchased a new position in shares of Fresh Del Monte Produce in the 1st quarter worth $48,000. EntryPoint Capital LLC bought a new stake in shares of Fresh Del Monte Produce in the 1st quarter worth about $49,000. Finally, Canada Pension Plan Investment Board purchased a new stake in shares of Fresh Del Monte Produce during the 2nd quarter valued at about $68,000. 64.83% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised Fresh Del Monte Produce from a "hold" rating to a "buy" rating in a research note on Monday, August 5th.

Fresh Del Monte Produce Stock Up 0.5 %

NYSE FDP traded up $0.18 during trading on Friday, reaching $33.78. 207,751 shares of the company's stock traded hands, compared to its average volume of 251,137. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.09 and a quick ratio of 1.04. The company's 50 day simple moving average is $30.68 and its two-hundred day simple moving average is $26.78. Fresh Del Monte Produce Inc. has a 12-month low of $21.23 and a 12-month high of $35.27. The firm has a market cap of $1.62 billion, a price-to-earnings ratio of 102.37 and a beta of 0.41.

Fresh Del Monte Produce (NYSE:FDP - Get Free Report) last released its earnings results on Thursday, October 31st. The company reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.30. The firm had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $989.45 million. Fresh Del Monte Produce had a return on equity of 5.91% and a net margin of 0.36%. The firm's revenue was up 1.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.35 EPS.

Fresh Del Monte Produce Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Thursday, November 14th will be issued a $0.25 dividend. 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 2.96%. Fresh Del Monte Produce's payout ratio 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.