EP Wealth Advisors LLC Makes New $250,000 Investment in Fresh Del Monte Produce, Inc. $FDP

Key Points

• EP Wealth Advisors LLC has invested $250,000 in Fresh Del Monte Produce by acquiring 8,115 shares of the company during the first quarter.
• The company's stock recently received an upgraded rating from Wall Street Zen, moving from a "buy" to a "strong-buy" rating.
• Fresh Del Monte Produce announced a quarterly dividend of $0.30 per share, indicating a solid annual yield of 3.4%.

EP Wealth Advisors LLC purchased a new position in Fresh Del Monte Produce, Inc. (NYSE:FDP - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 8,115 shares of the company's stock, valued at approximately $250,000.

Several other institutional investors have also recently made changes to their positions in the company. SummerHaven Investment Management LLC increased its holdings in shares of Fresh Del Monte Produce by 1.3% in the first quarter. SummerHaven Investment Management LLC now owns 36,004 shares of the company's stock worth $1,110,000 after purchasing an additional 471 shares during the period. Arizona State Retirement System increased its holdings in shares of Fresh Del Monte Produce by 5.0% in the first quarter. Arizona State Retirement System now owns 11,688 shares of the company's stock worth $360,000 after purchasing an additional 558 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Fresh Del Monte Produce by 3.7% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,211 shares of the company's stock worth $638,000 after purchasing an additional 684 shares during the period. McIlrath & Eck LLC bought a new position in shares of Fresh Del Monte Produce in the fourth quarter worth $48,000. Finally, State of Wyoming bought a new position in shares of Fresh Del Monte Produce in the fourth quarter worth $54,000. Institutional investors own 64.83% of the company's stock.

Fresh Del Monte Produce Price Performance

FDP traded down $0.16 during trading on Monday, reaching $35.45. The stock had a trading volume of 268,253 shares, compared to its average volume of 283,492. The business has a 50-day moving average of $35.63 and a 200-day moving average of $33.43. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.11 and a current ratio of 2.08. Fresh Del Monte Produce, Inc. has a one year low of $26.50 and a one year high of $40.75. The stock has a market cap of $1.70 billion, a PE ratio of 11.36 and a beta of 0.43.

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

Fresh Del Monte Produce Dividend Announcement

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

Insider Activity

In other news, CEO Ghazaleh Mohammad Abu sold 7,575 shares of the stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $36.61, for a total transaction of $277,320.75. Following the completion of the sale, the chief executive officer directly owned 5,040,782 shares in the company, valued at approximately $184,543,029.02. This represents a 0.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Ziad Nabulsi sold 1,000 shares of the 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 sale, the senior vice president owned 10,498 shares of the company's stock, valued at approximately $377,403.10. This represents a 8.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 137,039 shares of company stock valued at $5,010,709. Company insiders own 30.10% of the company's stock.

Wall Street Analyst Weigh In

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

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.