The UBS Asset Management Americas Inc. Boosts Stake in Fresh Del Monte Produce Inc. (FDP)

The UBS Asset Management Americas Inc. Boosts Stake in Fresh Del Monte Produce Inc. (FDP)

UBS Asset Management Americas Inc. increased its position in Fresh Del Monte Produce Inc. (NYSE:FDP) by 1.6% during the second quarter, Holdings Channel reports. The institutional investor owned 27,849 shares of the company’s stock after buying an additional 434 shares during the period. UBS Asset Management Americas Inc. owned 0.05% of Fresh Del Monte Produce worth $1,515,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the company. Acadian Asset Management LLC raised its position in shares of Fresh Del Monte Produce by 29.1% in the second quarter. Acadian Asset Management LLC now owns 1,734,930 shares of the company’s stock worth $94,432,000 after buying an additional 391,242 shares in the last quarter. Emerald Acquisition Ltd. bought a new position in shares of Fresh Del Monte Produce during the second quarter worth $16,050,000. Ameriprise Financial Inc. raised its position in shares of Fresh Del Monte Produce by 8.3% in the second quarter. Ameriprise Financial Inc. now owns 266,239 shares of the company’s stock worth $14,492,000 after buying an additional 20,294 shares in the last quarter. Prudential Financial Inc. raised its position in shares of Fresh Del Monte Produce by 20.5% in the first quarter. Prudential Financial Inc. now owns 265,140 shares of the company’s stock worth $11,154,000 after buying an additional 45,100 shares in the last quarter. Finally, Hancock Holding Co. raised its position in shares of Fresh Del Monte Produce by 0.4% in the first quarter. Hancock Holding Co. now owns 260,535 shares of the company’s stock worth $10,961,000 after buying an additional 910 shares in the last quarter. Hedge funds and other institutional investors own 63.33% of the company’s stock.

Fresh Del Monte Produce Inc. (NYSE:FDP) traded up 1.88% during trading on Thursday, reaching $61.26. 59,611 shares of the company’s stock traded hands. The firm has a market capitalization of $3.14 billion, a PE ratio of 24.17 and a beta of 0.38. Fresh Del Monte Produce Inc. has a one year low of $36.68 and a one year high of $61.28. The company has a 50-day moving average price of $59.02 and a 200 day moving average price of $53.52.

Fresh Del Monte Produce (NYSE:FDP) last announced its quarterly earnings data on Tuesday, August 2nd. The company reported $1.75 EPS for the quarter, beating the consensus estimate of $1.24 by $0.51. Fresh Del Monte Produce had a net margin of 3.32% and a return on equity of 10.88%. The business earned $1.09 billion during the quarter, compared to analysts’ expectations of $1.16 billion. During the same period in the previous year, the business posted $1.18 EPS. The business’s quarterly revenue was down 4.0% compared to the same quarter last year. On average, analysts anticipate that Fresh Del Monte Produce Inc. will post $4.22 earnings per share for the current fiscal year.

FDP has been the subject of a number of research reports. Zacks Investment Research lowered shares of Fresh Del Monte Produce from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 6th. Wunderlich increased their price objective on shares of Fresh Del Monte Produce from $60.00 to $70.00 and gave the company a “buy” rating in a research report on Wednesday, August 3rd.

In other news, Chairman Mohammad Abu-Ghazaleh sold 800 shares of Fresh Del Monte Produce stock in a transaction that occurred on Tuesday, August 9th. The shares were sold at an average price of $60.59, for a total transaction of $48,472.00. Following the completion of the transaction, the chairman now directly owns 5,423,856 shares of the company’s stock, valued at approximately $328,631,435.04. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Youssef Zakharia sold 538 shares of Fresh Del Monte Produce stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $56.56, for a total transaction of $30,429.28. Following the transaction, the vice president now directly owns 2,022 shares of the company’s stock, valued at $114,364.32. The disclosure for this sale can be found here. Insiders own 37.80% of the company’s stock.

About Fresh Del Monte Produce

Fresh Del Monte Produce Inc is a holding company. Through its subsidiaries, the Company is engaged in sourcing, transportation and marketing of fresh and fresh-cut fruit and vegetables together with prepared food products in Europe, Africa and the Middle East. The Company’s operations are aggregated into business segments on the basis of its products: bananas, other fresh produce and prepared food.

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