Kestra Private Wealth Services LLC Takes Position in Fresh Del Monte Produce, Inc. (NYSE:FDP)

Key Points

• Kestra Private Wealth Services LLC invested approximately $235,000 in Fresh Del Monte Produce, acquiring 7,621 shares during Q1, as reported in its recent SEC filing.
• Institutional investors now own 64.83% of Fresh Del Monte Produce's stock, with several hedge funds increasing or establishing new positions in the company during the past quarter.
• Fresh Del Monte Produce announced a quarterly dividend of $0.30 per share, resulting in an annualized dividend of $1.20 and a yield of 3.37%.

Kestra Private Wealth Services LLC acquired a new position in shares of Fresh Del Monte Produce, Inc. (NYSE:FDP - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 7,621 shares of the company's stock, valued at approximately $235,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Parvin Asset Management LLC acquired a new position in Fresh Del Monte Produce during the 4th quarter worth about $30,000. Sterling Capital Management LLC lifted its holdings in Fresh Del Monte Produce by 795.0% during the 4th quarter. Sterling Capital Management LLC now owns 1,083 shares of the company's stock worth $36,000 after buying an additional 962 shares during the period. McIlrath & Eck LLC acquired a new position in Fresh Del Monte Produce during the 4th quarter worth about $48,000. State of Wyoming acquired a new position in Fresh Del Monte Produce during the 4th quarter worth about $54,000. Finally, Meeder Asset Management Inc. acquired a new position in Fresh Del Monte Produce during the 4th quarter worth about $174,000. Institutional investors own 64.83% of the company's stock.

Fresh Del Monte Produce Trading Up 0.5%

FDP traded up $0.17 during midday trading on Friday, hitting $37.76. 99,266 shares of the company were exchanged, compared to its average volume of 379,063. The firm has a market capitalization of $1.81 billion, a P/E ratio of 12.10 and a beta of 0.38. Fresh Del Monte Produce, Inc. has a 1-year low of $25.32 and a 1-year high of $40.75. The firm's 50 day moving average price is $33.84 and its 200-day moving average price is $32.24. The company has a quick ratio of 1.01, a current ratio of 2.08 and a debt-to-equity ratio of 0.10.

Fresh Del Monte Produce (NYSE:FDP - Get Free Report) last announced its earnings results on Wednesday, July 30th. The company reported $1.23 EPS for the quarter, topping the consensus estimate of $0.95 by $0.28. The firm had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.16 billion. Fresh Del Monte Produce had a return on equity of 6.84% and a net margin of 3.49%. The business's quarterly revenue was up 3.8% compared to the same quarter last year. During the same period in the previous year, the business earned $1.06 EPS.

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. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date of this dividend is Wednesday, August 13th. Fresh Del Monte Produce's payout ratio is currently 38.46%.

Fresh Del Monte Produce 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.