Jefferies Financial Group Inc. Acquires Shares of 10,484 Fresh Del Monte Produce, Inc. (NYSE:FDP)

Key Points

• Jefferies Financial Group Inc. has invested approximately $323,000 in Fresh Del Monte Produce, purchasing 10,484 shares of the company's stock.
• Fresh Del Monte's stock was recently upgraded from a "buy" to a "strong-buy" rating by Wall Street Zen.
• The company announced a quarterly dividend of $0.30 per share, representing an annualized yield of 3.3%.

Jefferies Financial Group Inc. purchased a new position in shares of Fresh Del Monte Produce, Inc. (NYSE:FDP - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 10,484 shares of the company's stock, valued at approximately $323,000.

A number of other institutional investors and hedge funds have also made changes to their positions in FDP. GAMMA Investing LLC raised its position in shares of 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 worth $6,727,000 after purchasing an additional 199,911 shares during the period. Allianz Asset Management GmbH increased its position in shares of 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 during the period. Invesco Ltd. increased its position in shares of Fresh Del Monte Produce by 21.7% during the 4th quarter. Invesco Ltd. now owns 919,612 shares of the company's stock valued at $30,540,000 after purchasing an additional 164,120 shares during the period. Edgestream Partners L.P. acquired a new position in shares of Fresh Del Monte Produce in the 1st quarter worth $4,242,000. Finally, Northern Trust Corp grew its holdings in shares of Fresh Del Monte Produce by 10.1% in the 4th quarter. Northern Trust Corp now owns 376,203 shares of the company's stock worth $12,494,000 after acquiring an additional 34,447 shares during the last quarter. 64.83% of the stock is currently owned by institutional investors and hedge funds.

Fresh Del Monte Produce Stock Up 1.2%

Shares of NYSE:FDP traded up $0.43 during midday trading on Friday, hitting $36.49. 237,532 shares of the stock were exchanged, compared to its average volume of 375,999. 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 52-week low of $26.50 and a 52-week high of $40.75. The business's fifty day simple moving average is $34.05 and its two-hundred day simple moving average is $32.45. The company has a market capitalization of $1.75 billion, a PE ratio of 11.70 and a beta of 0.42.

Fresh Del Monte Produce (NYSE:FDP - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The company reported $1.23 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $1.16 billion. During the same period last year, the company earned $1.06 earnings per share. Fresh Del Monte Produce's quarterly revenue was up 3.8% compared to the same quarter last year.

Fresh Del Monte Produce Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 5th. Stockholders of record on Wednesday, August 13th will be paid 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 payout ratio is presently 38.46%.

Wall Street Analysts Forecast Growth

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

Insider Transactions at Fresh Del Monte Produce

In other news, SVP Effie D. Silva sold 1,315 shares of Fresh Del Monte Produce stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $37.54, for a total value of $49,365.10. Following the transaction, the senior vice president directly owned 7,377 shares in the company, valued at approximately $276,932.58. The trade was a 15.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Ziad Nabulsi sold 1,000 shares of Fresh Del Monte Produce stock in a transaction dated Tuesday, August 5th. The stock was 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 $377,403.10. The trade was a 8.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 41,445 shares of company stock worth $1,541,734. Company insiders own 31.60% of the company's stock.

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.