Jupiter Asset Management Ltd. Makes New Investment in Fresh Del Monte Produce, Inc. (NYSE:FDP)

Key Points

• Jupiter Asset Management Ltd. purchased 25,403 shares of Fresh Del Monte Produce, Inc., valued at approximately $783,000, representing about 0.05% ownership after the 1st quarter.
• Fresh Del Monte Produce recently reported earnings of $1.23 per share for the quarter, exceeding expectations, with revenues reaching $1.18 billion—up 3.8% year-over-year.
• The company announced a quarterly dividend of $0.30, representing an annualized dividend yield of 3.4%, with a payout ratio of 38.46%.

Jupiter Asset Management Ltd. purchased a new stake in shares of Fresh Del Monte Produce, Inc. (NYSE:FDP - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The firm purchased 25,403 shares of the company's stock, valued at approximately $783,000. Jupiter Asset Management Ltd. owned about 0.05% of Fresh Del Monte Produce at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. SummerHaven Investment Management LLC increased its stake in Fresh Del Monte Produce by 1.3% in the first quarter. SummerHaven Investment Management LLC now owns 36,004 shares of the company's stock valued at $1,110,000 after acquiring an additional 471 shares during the last quarter. Arizona State Retirement System increased its position in shares of Fresh Del Monte Produce by 5.0% during the 1st quarter. Arizona State Retirement System now owns 11,688 shares of the company's stock valued at $360,000 after purchasing an additional 558 shares during the last quarter. Bank of Montreal Can increased its position in shares of Fresh Del Monte Produce by 7.4% during the 4th quarter. Bank of Montreal Can now owns 9,669 shares of the company's stock valued at $321,000 after purchasing an additional 666 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Fresh Del Monte Produce by 3.7% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,211 shares of the company's stock valued at $638,000 after buying an additional 684 shares in the last quarter. Finally, MetLife Investment Management LLC lifted its position in Fresh Del Monte Produce by 4.0% in the 4th quarter. MetLife Investment Management LLC now owns 20,684 shares of the company's stock worth $687,000 after buying an additional 786 shares during the last quarter. Hedge funds and other institutional investors own 64.83% of the company's stock.

Fresh Del Monte Produce Price Performance

FDP traded up $0.38 during midday trading on Friday, hitting $36.44. The stock had a trading volume of 96,452 shares, compared to its average volume of 379,958. Fresh Del Monte Produce, Inc. has a 1 year low of $26.50 and a 1 year high of $40.75. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.11 and a current ratio of 2.08. The business has a fifty day moving average of $34.02 and a 200 day moving average of $32.41. The company has a market cap of $1.75 billion, a P/E ratio of 11.68 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 for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $1.16 billion. During the same period in the previous year, the business posted $1.06 EPS. The business's quarterly revenue was up 3.8% on a year-over-year basis.

Fresh Del Monte Produce Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 5th. Shareholders of record on Wednesday, August 13th will be given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 3.3%. The ex-dividend date is Wednesday, August 13th. Fresh Del Monte Produce's dividend payout ratio is presently 38.46%.

Insider Activity

In related news, CEO Ghazaleh Mohammad Abu sold 39,130 shares of the firm's stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $37.22, for a total transaction of $1,456,418.60. Following the transaction, the chief executive officer directly owned 5,093,911 shares in the company, valued at $189,595,367.42. This trade represents a 0.76% 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 1,000 shares of Fresh Del Monte Produce stock in a transaction that occurred 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 completion of the transaction, the senior vice president directly owned 10,498 shares in the company, valued at $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 three months, insiders have sold 41,445 shares of company stock valued at $1,541,734. 31.60% of the stock is currently owned by insiders.

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.