Strs Ohio Makes New $651,000 Investment in Fresh Del Monte Produce, Inc. $FDP

Key Points

• Strs Ohio has invested approximately $651,000 in Fresh Del Monte Produce, acquiring 21,100 shares of the company during the first quarter.
• Fresh Del Monte's quarterly earnings exceeded analysts' expectations, reporting an EPS of $1.23 and revenue of $1.18 billion, marking a 3.8% year-over-year increase.
• The company recently declared a quarterly dividend of $0.30, resulting in an annualized dividend yield of 3.4% for its shareholders.

Strs Ohio acquired a new position in Fresh Del Monte Produce, Inc. (NYSE:FDP - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 21,100 shares of the company's stock, valued at approximately $651,000.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Jane Street Group LLC grew its stake in shares of Fresh Del Monte Produce by 2,889.0% in the first quarter. Jane Street Group LLC now owns 122,716 shares of the company's stock worth $3,783,000 after acquiring an additional 127,116 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Fresh Del Monte Produce by 10.7% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 94,910 shares of the company's stock worth $2,926,000 after acquiring an additional 9,202 shares during the last quarter. Empowered Funds LLC grew its stake in shares of Fresh Del Monte Produce by 2.1% in the first quarter. Empowered Funds LLC now owns 267,450 shares of the company's stock worth $8,245,000 after acquiring an additional 5,387 shares during the last quarter. Great Lakes Advisors LLC grew its stake in shares of Fresh Del Monte Produce by 84.1% in the first quarter. Great Lakes Advisors LLC now owns 13,086 shares of the company's stock worth $403,000 after acquiring an additional 5,978 shares during the last quarter. Finally, UniSuper Management Pty Ltd acquired a new stake in shares of Fresh Del Monte Produce in the first quarter worth $1,149,000. Institutional investors and hedge funds own 64.83% of the company's stock.

Fresh Del Monte Produce Price Performance

Shares of NYSE:FDP traded down $0.56 on Friday, hitting $35.72. The stock had a trading volume of 1,085,493 shares, compared to its average volume of 322,718. Fresh Del Monte Produce, Inc. has a twelve month low of $26.50 and a twelve month 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. The firm's 50 day moving average price is $35.82 and its 200-day moving average price is $33.58. The company has a market capitalization of $1.71 billion, a price-to-earnings ratio of 11.45 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 EPS for the quarter, beating the consensus estimate of $0.95 by $0.28. Fresh Del Monte Produce had a net margin of 3.49% and a return on equity of 6.84%. The company had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.16 billion. During the same quarter in the previous year, the company earned $1.06 EPS. The firm's revenue for the quarter was up 3.8% compared to the same quarter last year.

Fresh Del Monte Produce Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 5th. Investors of record on Wednesday, August 13th were issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date of this dividend was Wednesday, August 13th. Fresh Del Monte Produce's payout ratio is currently 38.46%.

Insiders Place Their Bets

In related news, SVP Ziad Nabulsi sold 1,000 shares of Fresh Del Monte Produce stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $35.95, for a total value of $35,950.00. Following the completion of the transaction, the senior vice president directly owned 10,498 shares of the company's stock, valued at $377,403.10. The trade was a 8.70% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Effie D. Silva sold 1,315 shares of Fresh Del Monte Produce 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 completion of the transaction, the senior vice president directly owned 7,377 shares of the company's stock, valued at $276,932.58. This represents a 15.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 137,039 shares of company stock valued at $5,010,709. 30.10% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen downgraded shares of Fresh Del Monte Produce from a "strong-buy" rating to a "buy" rating in a research note on Saturday, September 13th.

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.