Dimensional Fund Advisors LP Cuts Stock Holdings in Fresh Del Monte Produce, Inc. $FDP

Key Points

• Dimensional Fund Advisors LP has reduced its stake in Fresh Del Monte Produce by 3.3%, selling 118,408 shares and owning 3,423,655 shares worth approximately $105.55 million.
• Wall Street analysts upgraded Fresh Del Monte Produce from a "buy" to a "strong-buy" rating, indicating positive growth expectations for the company.
• The company has announced a quarterly dividend of $0.30 per share, with an annualized yield of 3.3%, payable on September 5th to investors of record on August 13th.

Dimensional Fund Advisors LP lowered its stake in shares of Fresh Del Monte Produce, Inc. (NYSE:FDP - Free Report) by 3.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,423,655 shares of the company's stock after selling 118,408 shares during the quarter. Dimensional Fund Advisors LP owned about 7.14% of Fresh Del Monte Produce worth $105,550,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the stock. Parvin Asset Management LLC bought a new stake in Fresh Del Monte Produce during the fourth quarter worth $30,000. McIlrath & Eck LLC acquired a new stake in Fresh Del Monte Produce during the 4th quarter worth about $48,000. State of Wyoming acquired a new stake in Fresh Del Monte Produce during the 4th quarter worth about $54,000. Quantinno Capital Management LP acquired a new stake in Fresh Del Monte Produce during the 4th quarter worth about $202,000. Finally, Syon Capital LLC acquired a new stake in shares of Fresh Del Monte Produce in the 4th quarter valued at about $218,000. Institutional investors and hedge funds own 64.83% of the company's stock.

Fresh Del Monte Produce Stock Performance

Fresh Del Monte Produce stock traded up $0.63 during mid-day trading on Friday, reaching $36.26. The company's stock had a trading volume of 282,860 shares, compared to its average volume of 338,958. Fresh Del Monte Produce, Inc. has a 12-month low of $26.50 and a 12-month high of $40.75. The company has a market capitalization of $1.74 billion, a P/E ratio of 11.62 and a beta of 0.42. 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 firm's fifty day moving average price is $34.96 and its two-hundred day moving average price is $32.98.

Fresh Del Monte Produce (NYSE:FDP - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The company reported $1.23 earnings per share for the quarter, beating 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 business had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.16 billion. During the same period in the previous year, the business earned $1.06 EPS. Fresh Del Monte Produce's revenue was up 3.8% compared to the same quarter last year.

Fresh Del Monte Produce Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 5th. Stockholders of record on Wednesday, August 13th will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date is Wednesday, August 13th. Fresh Del Monte Produce's payout ratio is 38.46%.

Insider Activity

In related news, SVP Effie D. Silva sold 1,315 shares of the company's stock in a transaction on 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 transaction, the senior vice president directly owned 7,377 shares in the company, valued at approximately $276,932.58. The trade was a 15.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Ziad Nabulsi sold 1,000 shares of the company's stock in a transaction on Tuesday, August 5th. The stock was sold at an average price of $35.95, for a total transaction of $35,950.00. Following the completion of the transaction, the senior vice president owned 10,498 shares of the company's stock, valued at $377,403.10. This trade represents a 8.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 136,766 shares of company stock valued at $5,000,949 over the last 90 days. Company insiders own 31.60% of the company's stock.

Wall Street Analyst Weigh In

Separately, Wall Street Zen upgraded 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 Company 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.