Hussman Strategic Advisors Inc. Makes New Investment in Fresh Del Monte Produce Inc. (NYSE:FDP)

Hussman Strategic Advisors Inc. bought a new stake in Fresh Del Monte Produce Inc. (NYSE:FDP) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 21,000 shares of the company’s stock, valued at approximately $551,000.

Several other hedge funds have also made changes to their positions in FDP. Quantbot Technologies LP acquired a new position in Fresh Del Monte Produce in the second quarter valued at approximately $32,000. Strs Ohio purchased a new position in shares of Fresh Del Monte Produce during the 3rd quarter worth $41,000. Federated Hermes Inc. acquired a new stake in shares of Fresh Del Monte Produce during the 3rd quarter worth about $42,000. Royal Bank of Canada raised its holdings in Fresh Del Monte Produce by 247.3% in the 3rd quarter. Royal Bank of Canada now owns 1,813 shares of the company’s stock valued at $43,000 after buying an additional 1,291 shares during the period. Finally, State of Wyoming purchased a new position in Fresh Del Monte Produce during the second quarter worth about $49,000. Hedge funds and other institutional investors own 64.83% of the company’s stock.

Fresh Del Monte Produce Stock Up 1.7 %

FDP opened at $25.78 on Monday. Fresh Del Monte Produce Inc. has a 52 week low of $21.41 and a 52 week high of $29.90. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.01 and a current ratio of 2.12. The business has a fifty day simple moving average of $24.73 and a 200-day simple moving average of $24.79.

Fresh Del Monte Produce (NYSE:FDP) last released its earnings results on Monday, February 26th. The company reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.31 by ($0.06). The firm had revenue of $1.01 billion during the quarter, compared to analyst estimates of $1.03 billion. Fresh Del Monte Produce had a negative net margin of 0.26% and a positive return on equity of 5.11%. The business’s revenue was down 3.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.45 earnings per share.

Fresh Del Monte Produce Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Thursday, March 7th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 3.88%. The ex-dividend date of this dividend was Wednesday, March 6th. This is a boost from Fresh Del Monte Produce’s previous quarterly dividend of $0.20. Fresh Del Monte Produce’s dividend payout ratio (DPR) is currently -400.00%.

Insiders Place Their Bets

In related news, SVP Jesus Rodriguez Calvo sold 2,402 shares of Fresh Del Monte Produce stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $24.59, for a total value of $59,065.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, COO Mohammed Abbas sold 3,222 shares of the company’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $24.35, for a total transaction of $78,455.70. Following the completion of the transaction, the chief operating officer now directly owns 29,945 shares of the company’s stock, valued at approximately $729,160.75. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Jesus Rodriguez Calvo sold 2,402 shares of the company’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $24.59, for a total transaction of $59,065.18. The disclosure for this sale can be found here. Insiders sold a total of 10,569 shares of company stock worth $258,509 over the last 90 days. Corporate insiders own 36.96% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, TheStreet lowered shares of Fresh Del Monte Produce from a “b-” rating to a “c” rating in a report on Monday, February 26th.

Fresh Del Monte Produce 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.