Vanguard Group Inc. Increases Stock Position in Fresh Del Monte Produce, Inc. $FDP

Key Points

• Vanguard Group Inc. has increased its stake in Fresh Del Monte Produce by 2.8%, owning a total of 4,943,089 shares worth $152.4 million as of the latest SEC filing.
• Fresh Del Monte Produce reported earnings of $1.23 per share for the quarter, surpassing estimates by $0.28, with revenues of $1.18 billion, marking a 3.8% year-over-year increase.
• The company announced a quarterly dividend of $0.30 per share, resulting in an annualized yield of 3.3% with a payout ratio of 38.46%.

Vanguard Group Inc. lifted its holdings in Fresh Del Monte Produce, Inc. (NYSE:FDP - Free Report) by 2.8% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,943,089 shares of the company's stock after buying an additional 133,638 shares during the period. Vanguard Group Inc. owned about 10.31% of Fresh Del Monte Produce worth $152,395,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in FDP. Parvin Asset Management LLC bought a new stake in shares of Fresh Del Monte Produce in the 4th quarter worth about $30,000. Sterling Capital Management LLC grew its holdings in Fresh Del Monte Produce by 795.0% during the 4th quarter. Sterling Capital Management LLC now owns 1,083 shares of the company's stock valued at $36,000 after purchasing an additional 962 shares during the last quarter. McIlrath & Eck LLC bought a new position in Fresh Del Monte Produce during the 4th quarter valued at about $48,000. State of Wyoming bought a new position in Fresh Del Monte Produce during the 4th quarter valued at about $54,000. Finally, Quantinno Capital Management LP bought a new position in Fresh Del Monte Produce during the 4th quarter valued at about $202,000. 64.83% of the stock is currently owned by institutional investors.

Insider Activity at Fresh Del Monte Produce

In other Fresh Del Monte Produce news, CEO Ghazaleh Mohammad Abu sold 7,575 shares of the business's stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $36.61, for a total value of $277,320.75. Following the completion of the sale, the chief executive officer directly owned 5,040,782 shares of the company's stock, valued at $184,543,029.02. The trade was a 0.15% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Effie D. Silva sold 1,315 shares of the company's stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $37.54, for a total transaction of $49,365.10. Following the completion of the sale, the senior vice president directly owned 7,377 shares of the company's stock, valued at $276,932.58. The trade was a 15.13% decrease in their position. The disclosure for this sale can be found here. Insiders sold 136,766 shares of company stock valued at $5,000,949 in the last quarter. Corporate insiders own 30.10% of the company's stock.

Analysts Set New Price Targets

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 Trading Down 1.7%

Fresh Del Monte Produce stock traded down $0.62 during trading hours on Tuesday, hitting $36.12. The company had a trading volume of 369,006 shares, compared to its average volume of 384,283. The firm has a market cap of $1.73 billion, a P/E ratio of 11.58 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. 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 50-day moving average price of $34.79 and a two-hundred day moving average price of $32.88.

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 (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.28. The company had revenue of $1.18 billion during the quarter, compared to analysts' expectations of $1.16 billion. Fresh Del Monte Produce had a net margin of 3.49% and a return on equity of 6.84%. The firm's quarterly revenue was up 3.8% on a year-over-year basis. During the same period in the previous year, the company earned $1.06 EPS.

Fresh Del Monte Produce Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 5th. Shareholders of record on Wednesday, August 13th will be given a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 3.3%. The ex-dividend date of this dividend is Wednesday, August 13th. Fresh Del Monte Produce's 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.