Vanguard Group Inc. Has $152.40 Million 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. increased its holdings in shares of Fresh Del Monte Produce, Inc. (NYSE:FDP - Free Report) by 2.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,943,089 shares of the company's stock after purchasing an additional 133,638 shares during the period. Vanguard Group Inc. owned 10.31% of Fresh Del Monte Produce worth $152,395,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Waterfront Wealth Inc. lifted its stake in shares of Fresh Del Monte Produce by 111.0% in the first quarter. Waterfront Wealth Inc. now owns 47,673 shares of the company's stock valued at $1,470,000 after purchasing an additional 25,081 shares during the period. New York State Teachers Retirement System raised its position in shares of Fresh Del Monte Produce by 17.4% in the first quarter. New York State Teachers Retirement System now owns 22,741 shares of the company's stock valued at $701,000 after buying an additional 3,371 shares during the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd raised its position in shares of Fresh Del Monte Produce by 17.6% in the first quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 78,671 shares of the company's stock valued at $2,425,000 after buying an additional 11,796 shares during the last quarter. GAMMA Investing LLC grew its holdings in Fresh Del Monte Produce by 2,671.9% in the first quarter. GAMMA Investing LLC now owns 207,393 shares of the company's stock valued at $6,727,000 after purchasing an additional 199,911 shares during the period. Finally, CWA Asset Management Group LLC raised its holdings in shares of Fresh Del Monte Produce by 65.5% during the first quarter. CWA Asset Management Group LLC now owns 31,131 shares of the company's stock worth $960,000 after purchasing an additional 12,316 shares during the period. Hedge funds and other institutional investors own 64.83% of the company's stock.

Fresh Del Monte Produce Trading Up 0.9%

NYSE FDP traded up $0.32 on Monday, hitting $36.98. 150,510 shares of the stock were exchanged, compared to its average volume of 376,145. Fresh Del Monte Produce, Inc. has a 52-week low of $26.50 and a 52-week high of $40.75. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.08 and a quick ratio of 1.11. The company has a market capitalization of $1.77 billion, a price-to-earnings ratio of 11.86 and a beta of 0.42. The company's 50-day moving average price is $34.65 and its two-hundred day moving average price is $32.82.

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

Fresh Del Monte Produce Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 5th. Investors of record on Wednesday, August 13th will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 3.2%. The ex-dividend date is Wednesday, August 13th. Fresh Del Monte Produce's dividend payout ratio (DPR) is currently 38.46%.

Insider Activity at Fresh Del Monte Produce

In related news, SVP Effie D. Silva sold 1,315 shares of the firm's stock in a transaction that occurred on Monday, August 4th. The shares were 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 in the company, valued at approximately $276,932.58. This trade represents a 15.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Ghazaleh Mohammad Abu sold 7,575 shares of Fresh Del Monte Produce stock in a transaction that occurred on 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 owned 5,040,782 shares of the company's stock, valued at $184,543,029.02. This trade represents a 0.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 136,766 shares of company stock valued at $5,000,949. 30.10% of the stock is owned by company insiders.

Analyst Ratings Changes

Separately, Wall Street Zen raised 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 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.