Fresh Del Monte Produce, Inc. $FDP Shares Bought by Teacher Retirement System of Texas

Key Points

• Teacher Retirement System of Texas increased its stake in Fresh Del Monte by 14.2% to 204,388 shares (about $7.28 million), representing roughly 0.43% of the company.
• Insiders have been net sellers, offloading 33,151 shares worth about $1.39 million in the last 90 days, including large reductions by two senior VPs.
• Fresh Del Monte beat EPS estimates with $0.70 reported vs. $0.28 expected on $968.2M revenue (slightly below consensus) and paid a quarterly dividend of $0.30 per share (about a 2.9% yield).

Teacher Retirement System of Texas grew its stake in shares of Fresh Del Monte Produce, Inc. (NYSE:FDP - Free Report) by 14.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 204,388 shares of the company's stock after acquiring an additional 25,347 shares during the quarter. Teacher Retirement System of Texas owned about 0.43% of Fresh Del Monte Produce worth $7,282,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. EverSource Wealth Advisors LLC increased its stake in shares of Fresh Del Monte Produce by 390.8% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 962 shares of the company's stock valued at $31,000 after acquiring an additional 766 shares during the last quarter. Larson Financial Group LLC increased its stake in shares of Fresh Del Monte Produce by 1,488.5% during the 3rd quarter. Larson Financial Group LLC now owns 969 shares of the company's stock valued at $34,000 after acquiring an additional 908 shares during the last quarter. Geneos Wealth Management Inc. increased its stake in shares of Fresh Del Monte Produce by 238.1% during the 2nd quarter. Geneos Wealth Management Inc. now owns 1,065 shares of the company's stock valued at $35,000 after acquiring an additional 750 shares during the last quarter. Sunbelt Securities Inc. acquired a new position in shares of Fresh Del Monte Produce during the 3rd quarter valued at about $77,000. Finally, Tower Research Capital LLC TRC increased its stake in shares of Fresh Del Monte Produce by 34.7% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,010 shares of the company's stock valued at $98,000 after acquiring an additional 775 shares during the last quarter. Institutional investors and hedge funds own 64.83% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on FDP shares. Wall Street Zen raised shares of Fresh Del Monte Produce from a "hold" rating to a "buy" rating in a research report on Saturday, February 21st. Weiss Ratings raised shares of Fresh Del Monte Produce from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Monday, February 23rd. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the company has an average rating of "Buy".

Insider Activity

In other Fresh Del Monte Produce news, SVP Gianpaolo Renino sold 6,297 shares of the company's stock in a transaction that occurred on Friday, March 6th. The stock was sold at an average price of $41.46, for a total value of $261,073.62. Following the completion of the transaction, the senior vice president owned 3,198 shares in the company, valued at $132,589.08. This represents a 66.32% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Ziad Nabulsi sold 7,395 shares of the company's stock in a transaction that occurred on Friday, March 6th. The stock was sold at an average price of $42.01, for a total value of $310,663.95. Following the completion of the transaction, the senior vice president owned 8,397 shares of the company's stock, valued at approximately $352,757.97. This represents a 46.83% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 33,151 shares of company stock worth $1,391,225. Insiders own 30.10% of the company's stock.

Fresh Del Monte Produce Stock Down 0.2%

FDP opened at $41.77 on Monday. The firm has a 50 day moving average price of $41.68 and a 200 day moving average price of $38.33. The company has a market cap of $1.99 billion, a PE ratio of 22.22 and a beta of 0.28. Fresh Del Monte Produce, Inc. has a 1 year low of $31.43 and a 1 year high of $43.58. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.06 and a current ratio of 2.16.

Fresh Del Monte Produce (NYSE:FDP - Get Free Report) last posted its earnings results on Thursday, February 19th. The company reported $0.70 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.28 by $0.42. The firm had revenue of $968.20 million during the quarter, compared to the consensus estimate of $1.01 billion. Fresh Del Monte Produce had a net margin of 2.10% and a return on equity of 7.63%. The company's revenue was up .6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.26 EPS.

Fresh Del Monte Produce Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 27th. Investors of record on Wednesday, March 4th were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend was Wednesday, March 4th. Fresh Del Monte Produce's dividend payout ratio is 63.83%.

Fresh Del Monte Produce Company Profile

Fresh Del Monte Produce Inc is a leading producer, marketer and distributor of fresh and fresh-cut fruits and vegetables worldwide. The company offers a wide range of products including bananas, pineapples, melons, grapes and avocados, along with value-added items such as fruit salads, vegetable trays and snack packs under the Del Monte® brand.

Founded in 1989 as a spin-off from Del Monte, Fresh Del Monte has developed a global supply chain that spans production farms, ripening facilities and packaging centers across Latin America, North America, Europe, Asia and Africa.

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