Brandywine Global Investment Management LLC Buys 12,086 Shares of Fresh Del Monte Produce, Inc. $FDP

Key Points

• Brandywine Global Investment Management LLC increased its stake in Fresh Del Monte Produce by 7.4%, purchasing an additional 12,086 shares, bringing their total to 174,715 shares valued at approximately $5.39 million.
• Fresh Del Monte Produce reported Q2 earnings of $1.23 EPS, exceeding analyst expectations, and achieved a revenue of $1.18 billion, marking a 3.8% increase year-over-year.
• Fresh Del Monte announced a quarterly dividend of $0.30 per share, with an annualized yield of 3.4%, while institutional investors currently own 64.83% of the company's stock.

Brandywine Global Investment Management LLC grew its position in Fresh Del Monte Produce, Inc. (NYSE:FDP - Free Report) by 7.4% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 174,715 shares of the company's stock after buying an additional 12,086 shares during the period. Brandywine Global Investment Management LLC owned 0.36% of Fresh Del Monte Produce worth $5,386,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Waterfront Wealth Inc. grew its stake in shares of Fresh Del Monte Produce by 111.0% during the first quarter. Waterfront Wealth Inc. now owns 47,673 shares of the company's stock worth $1,470,000 after purchasing an additional 25,081 shares during the period. New York State Teachers Retirement System grew its stake in shares of Fresh Del Monte Produce by 17.4% during the first quarter. New York State Teachers Retirement System now owns 22,741 shares of the company's stock worth $701,000 after purchasing an additional 3,371 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd grew its stake in shares of Fresh Del Monte Produce by 17.6% during the first quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 78,671 shares of the company's stock worth $2,425,000 after purchasing an additional 11,796 shares during the period. GAMMA Investing LLC grew its stake in shares of Fresh Del Monte Produce by 2,671.9% during the first quarter. GAMMA Investing LLC now owns 207,393 shares of the company's stock worth $6,727,000 after purchasing an additional 199,911 shares during the period. Finally, CWA Asset Management Group LLC grew its stake in shares of Fresh Del Monte Produce by 65.5% during the first quarter. CWA Asset Management Group LLC now owns 31,131 shares of the company's stock worth $960,000 after purchasing an additional 12,316 shares during the period. 64.83% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Wall Street Zen raised Fresh Del Monte Produce from a "buy" rating to a "strong-buy" rating in a research note on Saturday, August 9th.

Insiders Place Their Bets

In other Fresh Del Monte Produce news, SVP Ziad Nabulsi sold 1,000 shares of Fresh Del Monte Produce stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $35.95, for a total transaction of $35,950.00. Following the transaction, the senior vice president directly owned 10,498 shares in the company, valued at approximately $377,403.10. The trade was a 8.70% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Effie D. Silva sold 1,315 shares of the business's stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $37.54, for a total value of $49,365.10. Following the completion of the sale, the senior vice president owned 7,377 shares in the company, valued at approximately $276,932.58. This trade represents a 15.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 124,574 shares of company stock worth $4,555,575. Corporate insiders own 31.60% of the company's stock.

Fresh Del Monte Produce Trading Down 1.0%

FDP stock traded down $0.37 during midday trading on Thursday, hitting $35.73. 201,855 shares of the company's stock were exchanged, compared to its average volume of 378,377. The stock's fifty day moving average price is $34.52 and its 200-day moving average price is $32.72. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.11 and a current ratio of 2.08. The company has a market cap of $1.71 billion, a PE ratio of 11.45 and a beta of 0.42. Fresh Del Monte Produce, Inc. has a one year low of $26.50 and a one year high of $40.75.

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

Fresh Del Monte Produce Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 5th. Shareholders of record on Wednesday, August 13th will be issued a dividend of $0.30 per share. The ex-dividend date is Wednesday, August 13th. This represents a $1.20 annualized dividend and a yield of 3.4%. Fresh Del Monte Produce's payout ratio is currently 38.46%.

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.