Advisors Asset Management Inc. Has $490,000 Holdings in Fresh Del Monte Produce, Inc. $FDP

Key Points

• Advisors Asset Management Inc. increased its stake in Fresh Del Monte Produce by 114.3%, holding 15,895 shares valued at approximately $490,000 as per its latest SEC filing.
• Fresh Del Monte Produce reported earnings of $1.23 per share in its last quarterly results, surpassing analysts' expectations of $0.95, with revenues also exceeding estimates at $1.18 billion.
• The company has declared a quarterly dividend of $0.30 per share, translating to a 3.4% dividend yield, as it maintains a dividend payout ratio of 38.46%.

Advisors Asset Management Inc. raised its stake in shares of Fresh Del Monte Produce, Inc. (NYSE:FDP - Free Report) by 114.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 15,895 shares of the company's stock after buying an additional 8,477 shares during the quarter. Advisors Asset Management Inc.'s holdings in Fresh Del Monte Produce were worth $490,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of FDP. Vanguard Group Inc. boosted its stake in Fresh Del Monte Produce by 2.8% during the 1st quarter. Vanguard Group Inc. now owns 4,943,089 shares of the company's stock worth $152,395,000 after acquiring an additional 133,638 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Fresh Del Monte Produce by 2.7% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,135,569 shares of the company's stock worth $35,010,000 after purchasing an additional 30,216 shares in the last quarter. American Century Companies Inc. boosted its position in shares of Fresh Del Monte Produce by 15.9% during the first quarter. American Century Companies Inc. now owns 1,101,091 shares of the company's stock worth $33,947,000 after purchasing an additional 150,983 shares in the last quarter. Invesco Ltd. grew its holdings in shares of Fresh Del Monte Produce by 1.2% in the 1st quarter. Invesco Ltd. now owns 930,921 shares of the company's stock valued at $28,700,000 after buying an additional 11,309 shares during the period. Finally, LSV Asset Management increased its position in shares of Fresh Del Monte Produce by 68.8% in the 1st quarter. LSV Asset Management now owns 580,018 shares of the company's stock valued at $17,882,000 after buying an additional 236,476 shares in the last quarter. 64.83% of the stock is currently owned by institutional investors and hedge funds.

Fresh Del Monte Produce Stock Performance

Shares of FDP stock traded up $0.19 during trading on Tuesday, reaching $35.61. 264,998 shares of the company's stock were exchanged, compared to its average volume of 285,086. Fresh Del Monte Produce, Inc. has a twelve month low of $26.50 and a twelve month high of $40.75. The firm's fifty day moving average price is $35.68 and its 200-day moving average price is $33.44. The company has a quick ratio of 1.11, a current ratio of 2.08 and a debt-to-equity ratio of 0.10. The stock has a market capitalization of $1.71 billion, a PE ratio of 11.41 and a beta of 0.43.

Fresh Del Monte Produce (NYSE:FDP - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The company reported $1.23 EPS for the quarter, topping analysts' consensus estimates of $0.95 by $0.28. Fresh Del Monte Produce had a net margin of 3.49% and a return on equity of 6.84%. The firm had revenue of $1.18 billion during the quarter, compared to analysts' expectations of $1.16 billion. During the same period in the previous year, the business posted $1.06 earnings per share. The company's revenue for the quarter was up 3.8% compared to the same quarter last year.

Fresh Del Monte Produce Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 5th. Investors of record on Wednesday, August 13th were paid a $0.30 dividend. The ex-dividend date was Wednesday, August 13th. This represents a $1.20 dividend on an annualized basis and a yield of 3.4%. Fresh Del Monte Produce's dividend payout ratio is 38.46%.

Insider Activity at Fresh Del Monte Produce

In other Fresh Del Monte Produce news, SVP Ziad Nabulsi sold 1,000 shares of the firm's stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $35.95, for a total transaction of $35,950.00. Following the completion of the sale, the senior vice president directly owned 10,498 shares in the company, valued at $377,403.10. This trade represents a 8.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Gianpaolo Renino sold 12,192 shares of the business's stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $36.53, for a total value of $445,373.76. Following the sale, the senior vice president owned 3,197 shares of the company's stock, valued at approximately $116,786.41. This represents a 79.23% decrease in their position. The disclosure for this sale can be found here. Insiders sold 137,039 shares of company stock valued at $5,010,709 in the last 90 days. Insiders own 30.10% of the company's stock.

Analyst Ratings Changes

Separately, Wall Street Zen lowered Fresh Del Monte Produce from a "strong-buy" rating to a "buy" rating in a report on Saturday.

About Fresh Del Monte Produce

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.