Nuveen LLC Takes Position in Fresh Del Monte Produce, Inc. $FDP

Key Points

• Nuveen LLC has invested approximately $3.73 million in Fresh Del Monte Produce, acquiring 120,908 shares, which represents about 0.25% ownership of the company.
• Fresh Del Monte Produce reported $1.23 earnings per share for its last quarter, exceeding estimates, along with a 3.8% year-over-year revenue increase to $1.18 billion.
• The company has announced a quarterly dividend of $0.30 per share, translating to a 3.3% annual yield, with a payout ratio of 38.46%.

Nuveen LLC bought a new stake in Fresh Del Monte Produce, Inc. (NYSE:FDP - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 120,908 shares of the company's stock, valued at approximately $3,728,000. Nuveen LLC owned about 0.25% of Fresh Del Monte Produce as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Parvin Asset Management LLC bought a new stake in shares of Fresh Del Monte Produce during the 4th quarter worth about $30,000. McIlrath & Eck LLC bought a new stake in shares of Fresh Del Monte Produce during the 4th quarter valued at approximately $48,000. State of Wyoming bought a new stake in shares of Fresh Del Monte Produce during the 4th quarter valued at approximately $54,000. Quantinno Capital Management LP bought a new stake in Fresh Del Monte Produce during the 4th quarter worth approximately $202,000. Finally, Kestra Private Wealth Services LLC bought a new stake in Fresh Del Monte Produce during the 1st quarter worth approximately $235,000. Institutional investors own 64.83% of the company's stock.

Insider Activity

In other Fresh Del Monte Produce news, SVP Effie D. Silva sold 1,315 shares of the business's stock in a transaction dated Monday, August 4th. The shares were 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 $276,932.58. The trade was a 15.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Ghazaleh Mohammad Abu sold 50,000 shares of the business's stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $35.92, for a total transaction of $1,796,000.00. Following the completion of the transaction, the chief executive officer owned 4,990,782 shares in the company, valued at approximately $179,268,889.44. The trade was a 0.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 136,766 shares of company stock valued at $5,000,949 in the last three months. 30.10% of the stock is owned by company insiders.

Fresh Del Monte Produce Trading Down 0.3%

Shares of FDP traded down $0.12 during trading hours on Tuesday, hitting $36.16. 211,189 shares of the stock were exchanged, compared to its average volume of 304,515. Fresh Del Monte Produce, Inc. has a fifty-two week low of $26.50 and a fifty-two week high of $40.75. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.08 and a quick ratio of 1.11. The business has a 50-day moving average of $35.10 and a 200-day moving average of $33.07. The firm has a market capitalization of $1.73 billion, a P/E ratio of 11.59 and a beta of 0.43.

Fresh Del Monte Produce (NYSE:FDP - Get Free Report) last issued its earnings results 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. The business had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.16 billion. Fresh Del Monte Produce had a net margin of 3.49% and a return on equity of 6.84%. Fresh Del Monte Produce's revenue was up 3.8% on a year-over-year basis. During the same period in the prior year, the firm earned $1.06 earnings per share.

Fresh Del Monte Produce Dividend Announcement

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

Wall Street Analyst Weigh In

Separately, Wall Street Zen raised shares of Fresh Del Monte Produce from a "buy" rating to a "strong-buy" rating in a report on Saturday, August 9th.

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.