LSV Asset Management Raises Stock Position in Fresh Del Monte Produce, Inc. (NYSE:FDP)

Key Points

• LSV Asset Management increased its holdings in Fresh Del Monte Produce by 68.8%, now owning 580,018 shares valued at approximately $17.88 million.
• Fresh Del Monte Produce reported a quarterly revenue of $1.18 billion, exceeding analysts' estimates, and an EPS of $1.23, which surpasses the consensus estimate of $0.95.
• The company declared a quarterly dividend of $0.30 per share, resulting in an annualized yield of 3.4%, with a dividend payout ratio of 38.46%.

LSV Asset Management raised its stake in shares of Fresh Del Monte Produce, Inc. (NYSE:FDP - Free Report) by 68.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 580,018 shares of the company's stock after purchasing an additional 236,476 shares during the quarter. LSV Asset Management owned 1.21% of Fresh Del Monte Produce worth $17,882,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the stock. Jefferies Financial Group Inc. bought a new position in shares of Fresh Del Monte Produce during the 1st quarter valued at $323,000. XTX Topco Ltd purchased a new position in Fresh Del Monte Produce in the 1st quarter worth $390,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Fresh Del Monte Produce by 20.0% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,594 shares of the company's stock worth $357,000 after purchasing an additional 1,930 shares during the period. Avantax Advisory Services Inc. purchased a new position in Fresh Del Monte Produce in the 1st quarter worth $469,000. Finally, Allianz Asset Management GmbH raised its position in Fresh Del Monte Produce by 95.8% in the 1st quarter. Allianz Asset Management GmbH now owns 377,312 shares of the company's stock worth $11,633,000 after purchasing an additional 184,573 shares during the period. 64.83% of the stock is currently owned by institutional investors.

Fresh Del Monte Produce Trading Up 1.0%

NYSE:FDP traded up $0.38 during trading hours on Friday, reaching $36.44. The company's stock had a trading volume of 96,452 shares, compared to its average volume of 379,958. The firm has a market capitalization of $1.75 billion, a price-to-earnings ratio of 11.68 and a beta of 0.42. The firm has a 50-day simple moving average of $34.02 and a 200-day simple moving average of $32.41. 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.

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

Fresh Del Monte Produce Announces Dividend

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

Insider Buying and Selling

In related news, CEO Ghazaleh Mohammad Abu sold 39,130 shares of Fresh Del Monte Produce stock in a transaction on Monday, August 4th. The shares were sold at an average price of $37.22, for a total value of $1,456,418.60. Following the transaction, the chief executive officer directly owned 5,093,911 shares of the company's stock, valued at $189,595,367.42. The trade was a 0.76% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Effie D. Silva sold 1,315 shares of Fresh Del Monte Produce stock in a transaction on Monday, August 4th. The stock was sold at an average price of $37.54, for a total transaction of $49,365.10. Following the completion of 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 disclosure for this sale can be found here. Insiders have sold a total of 41,445 shares of company stock valued at $1,541,734 over the last three months. 31.60% of the stock is owned by company insiders.

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.