Trade Report: Today: JPMorgan Chase & Co. decides to keep it stake in Fresh Del Monte Produce Inc. (FDP) to the level of $3,998,000

Today: JPMorgan Chase & Co. decides to keep it stake in Fresh Del Monte Produce Inc. (FDP) to the level of $3,998,000

JPMorgan Chase & Co. cut its stake in Fresh Del Monte Produce Inc. (NYSE:FDP) by 60.1% during the second quarter, Holdings Channel reports. The firm owned 73,466 shares of the company’s stock after selling 110,446 shares during the period. JPMorgan Chase & Co. owned 0.14% of Fresh Del Monte Produce worth $3,998,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Acadian Asset Management LLC raised its stake 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 during the last quarter. Emerald Acquisition Ltd. bought a new stake in shares of Fresh Del Monte Produce during the second quarter worth approximately $16,050,000. American Century Companies Inc. raised its stake in shares of Fresh Del Monte Produce by 736.8% in the second quarter. American Century Companies Inc. now owns 158,368 shares of the company’s stock worth $8,620,000 after buying an additional 139,442 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Fresh Del Monte Produce by 475.5% in the first quarter. Goldman Sachs Group Inc. now owns 134,154 shares of the company’s stock worth $5,644,000 after buying an additional 110,843 shares during the last quarter. Finally, Bogle Investment Management L P DE bought a new stake in shares of Fresh Del Monte Produce during the first quarter worth approximately $2,194,000. Institutional investors own 63.34% of the company’s stock.

Shares of Fresh Del Monte Produce Inc. (NYSE:FDP) traded up 0.66% during midday trading on Monday, reaching $61.39. 23,732 shares of the company’s stock traded hands. The company has a 50 day moving average of $59.16 and a 200 day moving average of $53.71. Fresh Del Monte Produce Inc. has a 52-week low of $36.68 and a 52-week high of $62.45. The firm has a market cap of $3.15 billion, a PE ratio of 24.22 and a beta of 0.38.

Fresh Del Monte Produce (NYSE:FDP) last announced its quarterly earnings results on Tuesday, August 2nd. The company reported $1.75 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 firm earned $1.09 billion during the quarter, compared to analysts’ expectations of $1.16 billion. During the same period in the prior year, the company posted $1.18 EPS. The company’s revenue was down 4.0% on a year-over-year basis. On average, equities analysts predict that Fresh Del Monte Produce Inc. will post $4.22 EPS for the current fiscal year.

A number of equities research analysts recently commented on FDP shares. Zacks Investment Research lowered shares of Fresh Del Monte Produce from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 6th. Wunderlich raised their price objective on shares of Fresh Del Monte Produce from $60.00 to $70.00 and gave the stock a “buy” rating in a report on Wednesday, August 3rd.

In other news, insider Hani El-Naffy sold 4,173 shares of the company’s stock in a transaction on Monday, August 1st. The shares were sold at an average price of $56.56, for a total value of $236,024.88. Following the sale, the insider now directly owns 10,113 shares of the company’s stock, valued at approximately $571,991.28. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Youssef Zakharia sold 538 shares of the company’s stock in a transaction 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 completion of the sale, the vice president now directly owns 2,022 shares in the company, valued at $114,364.32. The disclosure for this sale can be found here. 37.80% of the stock is currently owned by company insiders.

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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