Charles Schwab Investment Management Inc. Raises Holdings in Fresh Del Monte Produce, Inc. $FDP

Key Points

• Charles Schwab Investment Management Inc. increased its holdings in Fresh Del Monte Produce by 2.7%, now owning approximately 2.37% of the company valued at $35 million.
• Several institutional investors have made significant changes to their stakes in Fresh Del Monte Produce, contributing to a total institutional ownership of 64.83%.
• Fresh Del Monte Produce's stock performed well recently, closing at $35.79 with a 3.4% dividend yield announced for the coming quarter.

Charles Schwab Investment Management Inc. lifted its holdings in shares of Fresh Del Monte Produce, Inc. (NYSE:FDP - Free Report) by 2.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,135,569 shares of the company's stock after purchasing an additional 30,216 shares during the period. Charles Schwab Investment Management Inc. owned about 2.37% of Fresh Del Monte Produce worth $35,010,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. LSV Asset Management increased its holdings in Fresh Del Monte Produce by 68.8% in the 1st quarter. LSV Asset Management now owns 580,018 shares of the company's stock worth $17,882,000 after acquiring an additional 236,476 shares during the last quarter. GAMMA Investing LLC increased its holdings in Fresh Del Monte Produce by 2,671.9% in the 1st quarter. GAMMA Investing LLC now owns 207,393 shares of the company's stock worth $6,727,000 after acquiring an additional 199,911 shares during the last quarter. Allianz Asset Management GmbH increased its holdings in Fresh Del Monte Produce by 95.8% in the 1st quarter. Allianz Asset Management GmbH now owns 377,312 shares of the company's stock worth $11,633,000 after acquiring an additional 184,573 shares during the last quarter. Edgestream Partners L.P. purchased a new stake in Fresh Del Monte Produce in the 1st quarter worth about $4,242,000. Finally, Vanguard Group Inc. increased its holdings in Fresh Del Monte Produce by 2.8% in the 1st quarter. Vanguard Group Inc. now owns 4,943,089 shares of the company's stock worth $152,395,000 after acquiring an additional 133,638 shares during the last quarter. 64.83% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

Insider Activity

In other news, SVP Effie D. Silva sold 1,315 shares of the stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $37.54, for a total transaction of $49,365.10. Following the transaction, the senior vice president directly owned 7,377 shares in the company, valued at approximately $276,932.58. This represents a 15.13% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Ziad Nabulsi sold 1,000 shares of the stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $35.95, for a total value of $35,950.00. Following the transaction, the senior vice president owned 10,498 shares in the company, 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. In the last three months, insiders have sold 124,574 shares of company stock worth $4,555,575. 31.60% of the stock is currently owned by insiders.

Fresh Del Monte Produce Price Performance

Shares of NYSE:FDP traded down $0.37 on Thursday, hitting $35.73. The company's stock had a trading volume of 201,855 shares, compared to its average volume of 378,377. The company has a 50-day simple moving average of $34.52 and a 200 day simple moving average of $32.72. Fresh Del Monte Produce, Inc. has a 1 year low of $26.50 and a 1 year high of $40.75. The company has a market capitalization of $1.71 billion, a PE ratio of 11.45 and a beta of 0.42. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.08 and a quick ratio of 1.11.

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

Fresh Del Monte Produce Dividend Announcement

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