Cubist Systematic Strategies LLC Acquires Shares of 211,565 Fresh Del Monte Produce, Inc. $FDP

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 purchased a new position in shares of Fresh Del Monte Produce, Inc. (NYSE:FDP - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 211,565 shares of the company's stock, valued at approximately $6,523,000. Cubist Systematic Strategies LLC owned 0.44% of Fresh Del Monte Produce at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Magnetar Financial LLC purchased a new position in shares of Fresh Del Monte Produce during the 1st quarter worth about $247,000. State of Wyoming grew its holdings in shares of Fresh Del Monte Produce by 230.1% in the first quarter. State of Wyoming now owns 5,321 shares of the company's stock worth $164,000 after purchasing an additional 3,709 shares during the last quarter. Trexquant Investment LP grew its holdings in shares of Fresh Del Monte Produce by 787.0% in the first quarter. Trexquant Investment LP now owns 86,205 shares of the company's stock worth $2,658,000 after purchasing an additional 76,486 shares during the last quarter. Jump Financial LLC grew its holdings in shares of Fresh Del Monte Produce by 517.3% in the first quarter. Jump Financial LLC now owns 61,456 shares of the company's stock worth $1,895,000 after purchasing an additional 51,501 shares during the last quarter. Finally, Humankind Investments LLC grew its holdings in shares of Fresh Del Monte Produce by 11.5% in the first quarter. Humankind Investments LLC now owns 24,829 shares of the company's stock worth $765,000 after purchasing an additional 2,557 shares during the last quarter. 64.83% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Fresh Del Monte Produce

In other Fresh Del Monte Produce news, CEO Ghazaleh Mohammad Abu sold 50,000 shares of the firm's stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $35.92, for a total transaction of $1,796,000.00. Following the completion of the transaction, the chief executive officer directly owned 4,990,782 shares of the company's stock, valued at approximately $179,268,889.44. This trade represents a 0.99% decrease in their position. The transaction was disclosed in a filing with the SEC, 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 stock was sold at an average price of $36.53, for a total transaction of $445,373.76. Following the transaction, the senior vice president directly owned 3,197 shares of the company's stock, valued at $116,786.41. This represents a 79.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 136,766 shares of company stock valued at $5,000,949. 31.60% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Separately, Wall Street Zen upgraded shares of Fresh Del Monte Produce from a "buy" rating to a "strong-buy" rating in a report on Saturday, August 9th.

Fresh Del Monte Produce Stock Performance

Shares of Fresh Del Monte Produce stock traded up $0.13 during midday trading on Friday, hitting $35.84. The company had a trading volume of 271,022 shares, compared to its average volume of 298,302. The stock has a market cap of $1.72 billion, a price-to-earnings ratio of 11.49 and a beta of 0.43. 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 company has a fifty day simple moving average of $35.33 and a 200 day simple moving average of $33.19. Fresh Del Monte Produce, Inc. has a 12-month low of $26.50 and a 12-month high of $40.75.

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

Fresh Del Monte Produce Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 5th. Shareholders of record on Wednesday, August 13th were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Wednesday, August 13th. This represents a $1.20 dividend on an annualized basis and a yield of 3.3%. Fresh Del Monte Produce's dividend payout ratio (DPR) is currently 38.46%.

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.