Quantbot Technologies LP Makes New Investment in Fresh Del Monte Produce, Inc. $FDP

Key Points

• Quantbot Technologies LP has invested approximately $1.45 million in Fresh Del Monte Produce, acquiring 47,120 shares, which represents about 0.10% of the company.
• A significant number of hedge funds have also increased their positions in Fresh Del Monte Produce, with 64.83% of the stock owned by institutional investors and hedge funds.
• The company recently reported a quarterly earnings per share (EPS) of $1.23, exceeding estimates, and declared a quarterly dividend of $0.30 with a yield of 3.3%.

Quantbot Technologies LP bought a new position 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 (SEC). The firm bought 47,120 shares of the company's stock, valued at approximately $1,453,000. Quantbot Technologies LP owned 0.10% of Fresh Del Monte Produce at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in FDP. LPL Financial LLC purchased a new stake in shares of Fresh Del Monte Produce in the fourth quarter worth approximately $434,000. Wells Fargo & Company MN lifted its position in shares of Fresh Del Monte Produce by 36.0% in the fourth quarter. Wells Fargo & Company MN now owns 36,565 shares of the company's stock worth $1,214,000 after purchasing an additional 9,673 shares in the last quarter. Sterling Capital Management LLC lifted its position in shares of Fresh Del Monte Produce by 795.0% in the fourth quarter. Sterling Capital Management LLC now owns 1,083 shares of the company's stock worth $36,000 after purchasing an additional 962 shares in the last quarter. Mariner LLC purchased a new stake in shares of Fresh Del Monte Produce in the fourth quarter worth approximately $269,000. Finally, MetLife Investment Management LLC lifted its position in shares of Fresh Del Monte Produce by 4.0% in the fourth quarter. MetLife Investment Management LLC now owns 20,684 shares of the company's stock worth $687,000 after purchasing an additional 786 shares in the last quarter. 64.83% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Fresh Del Monte Produce

In other Fresh Del Monte Produce news, CEO Ghazaleh Mohammad Abu sold 7,575 shares of Fresh Del Monte Produce stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $36.61, for a total transaction of $277,320.75. Following the sale, the chief executive officer owned 5,040,782 shares in the company, valued at $184,543,029.02. The trade was a 0.15% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Ziad Nabulsi sold 1,000 shares of Fresh Del Monte Produce stock in a transaction on Tuesday, August 5th. The stock was sold at an average price of $35.95, for a total transaction of $35,950.00. Following the sale, the senior vice president owned 10,498 shares in the company, valued at $377,403.10. This represents a 8.70% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 136,766 shares of company stock worth $5,000,949. Insiders own 31.60% of the company's stock.

Fresh Del Monte Produce Stock Performance

Shares of Fresh Del Monte Produce stock traded down $0.68 during midday trading on Thursday, hitting $35.85. The company had a trading volume of 60,807 shares, compared to its average volume of 374,448. The business's 50 day simple moving average is $34.85 and its two-hundred day simple moving average is $32.91. The stock has a market cap of $1.72 billion, a PE ratio of 11.49 and a beta of 0.42. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.08 and a quick ratio of 1.11. Fresh Del Monte Produce, Inc. has a 1-year low of $26.50 and a 1-year high of $40.75.

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 (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 the consensus estimate 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 quarterly revenue was up 3.8% on a year-over-year basis. During the same quarter last year, the company posted $1.06 earnings per share.

Fresh Del Monte Produce Announces Dividend

The business 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. The ex-dividend date is Wednesday, August 13th. This represents a $1.20 annualized dividend and a dividend yield of 3.3%. Fresh Del Monte Produce's dividend payout ratio (DPR) is presently 38.46%.

Analyst Upgrades and Downgrades

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

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.