211,565 Shares in Fresh Del Monte Produce, Inc. $FDP Acquired by Cubist Systematic Strategies LLC

Key Points

• Cubist Systematic Strategies LLC acquired a new stake in Fresh Del Monte Produce, purchasing 211,565 shares valued at approximately $6.5 million, marking 0.44% ownership of the company.
• The company reported earnings of $1.23 per share for the last quarter, exceeding analysts' estimates of $0.95 and demonstrating a year-over-year revenue increase of 3.8%.
• Fresh Del Monte Produce announced a quarterly dividend of $0.30 per share, representing a 3.3% yield, with the ex-dividend date set for August 13th.

Cubist Systematic Strategies LLC acquired a new position in Fresh Del Monte Produce, Inc. (NYSE:FDP - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 211,565 shares of the company's stock, valued at approximately $6,523,000. Cubist Systematic Strategies LLC owned about 0.44% of Fresh Del Monte Produce as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in FDP. McIlrath & Eck LLC bought a new stake in Fresh Del Monte Produce in the fourth quarter valued at approximately $48,000. State of Wyoming bought a new position in Fresh Del Monte Produce in the fourth quarter valued at about $54,000. Quantinno Capital Management LP bought a new position in Fresh Del Monte Produce in the fourth quarter valued at about $202,000. Kestra Private Wealth Services LLC purchased a new stake in shares of Fresh Del Monte Produce during the first quarter worth about $235,000. Finally, Magnetar Financial LLC purchased a new stake in shares of Fresh Del Monte Produce during the first quarter worth about $247,000. Hedge funds and other institutional investors own 64.83% of the company's stock.

Insider Buying and Selling 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 value of $35,950.00. Following the sale, the senior vice president owned 10,498 shares in the company, valued at approximately $377,403.10. This trade represents a 8.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Gianpaolo Renino sold 12,192 shares of the firm's stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $36.53, for a total transaction of $445,373.76. Following the completion of the sale, the senior vice president owned 3,197 shares in the company, valued at $116,786.41. The trade was a 79.23% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 136,766 shares of company stock worth $5,000,949 in the last ninety days. Insiders own 30.10% of the company's stock.

Wall Street Analyst Weigh In

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.

Fresh Del Monte Produce Price Performance

Shares of Fresh Del Monte Produce stock traded down $0.12 during trading on Tuesday, hitting $35.38. 42,489 shares of the company were exchanged, compared to its average volume of 371,239. The firm has a 50 day moving average price of $35.39 and a 200 day moving average price of $33.24. 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 $1.70 billion, a price-to-earnings ratio of 11.33 and a beta of 0.43. Fresh Del Monte Produce, Inc. has a fifty-two week low of $26.50 and a fifty-two week high of $40.75.

Fresh Del Monte Produce (NYSE:FDP - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The company reported $1.23 earnings per share 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 prior year, the company earned $1.06 EPS. The firm's revenue was up 3.8% on a year-over-year basis.

Fresh Del Monte Produce Dividend Announcement

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