Invenomic Capital Management LP Has $12.21 Million Stock Holdings in Fresh Del Monte Produce, Inc. $FDP

Key Points

• Invenomic Capital Management LP increased its stake in Fresh Del Monte Produce, owning 395,989 shares after purchasing 124,105 additional shares, marking a 45.6% increase in the first quarter.
• Fresh Del Monte Produce reported earnings per share of $1.23, exceeding analysts' expectations of $0.95, with a revenue increase of 3.8% year-over-year.
• The company declared a quarterly dividend of $0.30, with an annualized yield of 3.4%, set to be paid on September 5th.

Invenomic Capital Management LP increased its stake in Fresh Del Monte Produce, Inc. (NYSE:FDP - Free Report) by 45.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 395,989 shares of the company's stock after buying an additional 124,105 shares during the quarter. Invenomic Capital Management LP owned approximately 0.83% of Fresh Del Monte Produce worth $12,208,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in FDP. Price T Rowe Associates Inc. MD raised its stake in Fresh Del Monte Produce by 6.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 36,890 shares of the company's stock valued at $1,226,000 after acquiring an additional 2,218 shares during the period. The Manufacturers Life Insurance Company raised its stake in Fresh Del Monte Produce by 17.1% in the 4th quarter. The Manufacturers Life Insurance Company now owns 163,754 shares of the company's stock valued at $5,438,000 after acquiring an additional 23,917 shares during the period. Northern Trust Corp raised its stake in Fresh Del Monte Produce by 10.1% in the 4th quarter. Northern Trust Corp now owns 376,203 shares of the company's stock valued at $12,494,000 after acquiring an additional 34,447 shares during the period. Schonfeld Strategic Advisors LLC bought a new stake in Fresh Del Monte Produce in the 4th quarter valued at $452,000. Finally, Centiva Capital LP acquired a new position in shares of Fresh Del Monte Produce in the fourth quarter valued at approximately $496,000. Institutional investors own 64.83% of the company's stock.

Insiders Place Their Bets

In other Fresh Del Monte Produce news, CEO Ghazaleh Mohammad Abu sold 50,000 shares of Fresh Del Monte Produce stock in a transaction dated 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 owned 4,990,782 shares in the company, valued at $179,268,889.44. The trade was a 0.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Ziad Nabulsi sold 1,000 shares of Fresh Del Monte Produce 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 completion of the transaction, the senior vice president owned 10,498 shares in the company, valued at approximately $377,403.10. This represents a 8.70% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 137,039 shares of company stock worth $5,010,709. Insiders own 30.10% of the company's stock.

Fresh Del Monte Produce Price Performance

Shares of FDP stock traded down $0.27 on Wednesday, hitting $34.89. 115,434 shares of the company's stock were exchanged, compared to its average volume of 370,820. 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, Inc. has a 12 month low of $26.50 and a 12 month high of $40.75. The stock has a market cap of $1.67 billion, a P/E ratio of 11.18 and a beta of 0.43. The company has a 50 day moving average of $35.43 and a 200 day moving average of $33.25.

Fresh Del Monte Produce (NYSE:FDP - Get Free Report) last released its 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 firm had revenue of $1.18 billion for the quarter, compared to analysts' expectations of $1.16 billion. During the same quarter in the previous year, the business posted $1.06 earnings per share. The business's revenue for the quarter was up 3.8% on a year-over-year basis.

Fresh Del Monte Produce Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 5th. Shareholders of record on Wednesday, August 13th were given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date was Wednesday, August 13th. Fresh Del Monte Produce's payout ratio is currently 38.46%.

Analysts Set New Price Targets

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.

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.