American Century Companies Inc. Increases Stock Holdings in Fresh Del Monte Produce, Inc. $FDP

Key Points

• American Century Companies Inc. has increased its stake in Fresh Del Monte Produce by 15.9%, now owning approximately 2.30% of the company, valued at nearly $34 million.
• Fresh Del Monte Produce has been upgraded to a "strong-buy" rating by Wall Street analysts, reflecting increased confidence in the company's performance.
• The company recently announced a quarterly dividend of $0.30 per share, representing an annualized yield of 3.4%.

American Century Companies Inc. increased its holdings in shares of Fresh Del Monte Produce, Inc. (NYSE:FDP - Free Report) by 15.9% in the first quarter, according to its most recent filing with the SEC. The fund owned 1,101,091 shares of the company's stock after acquiring an additional 150,983 shares during the period. American Century Companies Inc. owned about 2.30% of Fresh Del Monte Produce worth $33,947,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of FDP. LSV Asset Management raised its position in Fresh Del Monte Produce by 68.8% during the 1st quarter. LSV Asset Management now owns 580,018 shares of the company's stock valued at $17,882,000 after purchasing an additional 236,476 shares in the last quarter. GAMMA Investing LLC raised its position in Fresh Del Monte Produce by 2,671.9% during the 1st 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 in the last quarter. Allianz Asset Management GmbH raised its position in Fresh Del Monte Produce by 95.8% during the 1st quarter. Allianz Asset Management GmbH now owns 377,312 shares of the company's stock valued at $11,633,000 after purchasing an additional 184,573 shares in the last quarter. Edgestream Partners L.P. bought a new stake in Fresh Del Monte Produce during the 1st quarter valued at $4,242,000. Finally, Vanguard Group Inc. raised its position in Fresh Del Monte Produce by 2.8% during the 1st quarter. Vanguard Group Inc. now owns 4,943,089 shares of the company's stock valued at $152,395,000 after purchasing an additional 133,638 shares in the last quarter. 64.83% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, CEO Ghazaleh Mohammad Abu sold 50,000 shares of Fresh Del Monte Produce stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $35.92, for a total value of $1,796,000.00. Following the transaction, the chief executive officer directly owned 4,990,782 shares in the company, valued at approximately $179,268,889.44. This trade represents a 0.99% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Ziad Nabulsi sold 1,000 shares of the business's stock in a transaction on Tuesday, August 5th. The stock was 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 approximately $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. Over the last 90 days, insiders have sold 136,766 shares of company stock valued at $5,000,949. 31.60% of the stock is owned by insiders.

Fresh Del Monte Produce Stock Up 0.9%

Shares of NYSE:FDP traded up $0.34 on Wednesday, reaching $36.50. The company had a trading volume of 250,308 shares, compared to its average volume of 384,798. Fresh Del Monte Produce, Inc. has a 52-week low of $26.50 and a 52-week high of $40.75. The firm's 50 day simple moving average is $34.85 and its 200-day simple moving average is $32.91. The firm has a market capitalization of $1.75 billion, a PE ratio of 11.70 and a beta of 0.42. The company has a current ratio of 2.08, a quick ratio of 1.11 and a debt-to-equity ratio of 0.10.

Fresh Del Monte Produce (NYSE:FDP - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The company reported $1.23 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 business had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.16 billion. During the same period last year, the business posted $1.06 EPS. The business's 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. Stockholders of record on Wednesday, August 13th will be issued a $0.30 dividend. The ex-dividend date is Wednesday, August 13th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.3%. Fresh Del Monte Produce's dividend payout ratio (DPR) is currently 38.46%.

Wall Street Analyst Weigh In

Separately, Wall Street Zen raised Fresh Del Monte Produce from a "buy" rating to a "strong-buy" rating in a research 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.