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

A number of other institutional investors have also bought and sold shares of the business. State of Wyoming purchased a new stake in shares of Fresh Del Monte Produce during the 4th quarter valued at approximately $54,000. Quantinno Capital Management LP purchased a new stake in shares of Fresh Del Monte Produce during the 4th quarter valued at approximately $202,000. Kestra Private Wealth Services LLC purchased a new stake in shares of Fresh Del Monte Produce during the 1st quarter valued at approximately $235,000. Magnetar Financial LLC purchased a new stake in shares of Fresh Del Monte Produce during the 1st quarter valued at approximately $247,000. Finally, EP Wealth Advisors LLC purchased a new stake in shares of Fresh Del Monte Produce during the 1st quarter valued at approximately $250,000. 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 50,000 shares of the company's stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $35.92, for a total value 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 $179,268,889.44. This represents a 0.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Gianpaolo Renino sold 12,192 shares of the company's stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $36.53, for a total transaction of $445,373.76. Following the completion of the transaction, the senior vice president owned 3,197 shares of the company's stock, valued at $116,786.41. This represents a 79.23% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 137,039 shares of company stock worth $5,010,709. Insiders own 30.10% of the company's stock.

Fresh Del Monte Produce Stock Down 0.4%

Shares of FDP stock traded down $0.16 on Tuesday, reaching $35.64. 82,238 shares of the stock were exchanged, compared to its average volume of 371,840. The company has a current ratio of 2.08, a quick ratio of 1.11 and a debt-to-equity ratio of 0.10. The business's 50 day moving average price is $35.87 and its 200 day moving average price is $33.62. The company has a market capitalization of $1.71 billion, a price-to-earnings ratio of 11.42 and a beta of 0.43. Fresh Del Monte Produce, Inc. has a twelve month low of $26.50 and a twelve month high of $40.75.

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 firm had revenue of $1.18 billion during 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%. The company's revenue was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.06 earnings per share.

Fresh Del Monte Produce Announces Dividend

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

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 report 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.