Outfitters Financial LLC Invests $912,000 in Fresh Del Monte Produce Inc $DMC

Key Points

• Outfitters Financial LLC purchased 32,670 shares of Fresh Del Monte Produce, valued at approximately $912,000, establishing a stake of about 0.07%.
• Fresh Del Monte reported quarterly revenue of $1.22 billion and earnings of $0.72 per share. The company also declared a quarterly dividend of $0.30, representing a 3.7% annualized yield.
• COO Mohammed Abbas bought 12,000 shares for roughly $358,680, increasing his holdings by 20.02%; insiders collectively own 30.6% of the company. Analysts maintain a consensus “Hold” rating.

Outfitters Financial LLC purchased a new stake in shares of Fresh Del Monte Produce Inc (NYSE:DMC - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 32,670 shares of the company's stock, valued at approximately $912,000. Outfitters Financial LLC owned approximately 0.07% of Fresh Del Monte Produce at the end of the most recent quarter.

Analysts Set New Price Targets

Separately, Weiss Ratings started coverage on shares of Fresh Del Monte Produce in a report on Wednesday, August 5th. They issued a "hold (c)" rating for the company. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the company presently has a consensus rating of "Hold".

Insider Transactions at Fresh Del Monte Produce

In other news, COO Mohammed Abbas bought 12,000 shares of the company's stock in a transaction that occurred on Tuesday, August 4th. The shares were purchased at an average price of $29.89 per share, for a total transaction of $358,680.00. Following the acquisition, the chief operating officer directly owned 71,930 shares of the company's stock, valued at $2,149,987.70. The trade was a 20.02% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 30.60% of the company's stock.

Fresh Del Monte Produce Stock Performance

DMC opened at $32.37 on Thursday. The company has a market capitalization of $1.53 billion, a P/E ratio of 45.60 and a beta of 0.25. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.23 and a quick ratio of 1.04. Fresh Del Monte Produce Inc has a twelve month low of $26.47 and a twelve month high of $43.58.

Fresh Del Monte Produce (NYSE:DMC - Get Free Report) last announced its quarterly earnings results on Thursday, July 30th. The company reported $0.72 EPS for the quarter. Fresh Del Monte Produce had a return on equity of 6.43% and a net margin of 0.79%.The company had revenue of $1.22 billion for the quarter.

Fresh Del Monte Produce Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 4th. Investors of record on Wednesday, August 12th will be paid a $0.30 dividend. The ex-dividend date is Wednesday, August 12th. This represents a $1.20 dividend on an annualized basis and a yield of 3.7%. Fresh Del Monte Produce's dividend payout ratio (DPR) is presently 169.01%.

Fresh Del Monte Produce Profile

Fresh Del Monte Produce Inc is a vertically integrated producer, distributor and marketer of fresh and prepared food products. Its portfolio includes bananas, pineapples, melons, avocados, berries and other fresh fruits, along with vegetables, fresh-cut produce, juices, snacks and prepared foods. The company sells products under the Del Monte brand and other brands, as well as through private-label and foodservice channels.

Fresh Del Monte manages activities across much of the agricultural supply chain, including growing, sourcing, packing, transporting, marketing and distributing produce.

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