Trexquant Investment LP Buys 76,486 Shares of Fresh Del Monte Produce, Inc. $FDP

Key Points

• Trexquant Investment LP increased its stake in Fresh Del Monte Produce by 787.0% in the first quarter, owning 86,205 shares valued at approximately $2.66 million.
• Fresh Del Monte Produce's stock received an upgrade from buy to strong-buy by Wall Street Zen, indicating increased confidence from analysts.
• The company announced a quarterly dividend of $0.30, reflecting an annualized yield of 3.3% and a payout ratio of 38.46%.

Trexquant Investment LP raised its holdings in Fresh Del Monte Produce, Inc. (NYSE:FDP - Free Report) by 787.0% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 86,205 shares of the company's stock after buying an additional 76,486 shares during the period. Trexquant Investment LP owned about 0.18% of Fresh Del Monte Produce worth $2,658,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in FDP. LSV Asset Management increased its stake in shares of Fresh Del Monte Produce by 68.8% during the first quarter. LSV Asset Management now owns 580,018 shares of the company's stock worth $17,882,000 after purchasing an additional 236,476 shares during the period. GAMMA Investing LLC increased its stake in shares of Fresh Del Monte Produce by 2,671.9% during the first quarter. GAMMA Investing LLC now owns 207,393 shares of the company's stock worth $6,727,000 after purchasing an additional 199,911 shares during the period. Allianz Asset Management GmbH increased its stake in shares of Fresh Del Monte Produce by 95.8% during the first quarter. Allianz Asset Management GmbH now owns 377,312 shares of the company's stock worth $11,633,000 after purchasing an additional 184,573 shares during the period. American Century Companies Inc. increased its stake in shares of Fresh Del Monte Produce by 15.9% during the first quarter. American Century Companies Inc. now owns 1,101,091 shares of the company's stock worth $33,947,000 after purchasing an additional 150,983 shares during the period. Finally, Edgestream Partners L.P. bought a new position in shares of Fresh Del Monte Produce during the first quarter worth approximately $4,242,000. Institutional investors own 64.83% of the company's stock.

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

In other news, CEO Ghazaleh Mohammad Abu sold 50,000 shares of Fresh Del Monte Produce stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $35.92, for a total value of $1,796,000.00. Following the transaction, the chief executive officer owned 4,990,782 shares in the company, valued at approximately $179,268,889.44. This trade represents a 0.99% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Ziad Nabulsi sold 1,000 shares of the business's stock in a transaction on Tuesday, August 5th. The stock was sold at an average price of $35.95, for a total value 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 quarter, insiders have sold 136,766 shares of company stock worth $5,000,949. 31.60% of the stock is currently owned by company insiders.

Fresh Del Monte Produce Price Performance

NYSE FDP traded up $0.13 during midday trading on Friday, hitting $35.84. The company had a trading volume of 271,022 shares, compared to its average volume of 298,302. The company has a market capitalization of $1.72 billion, a PE ratio of 11.49 and a beta of 0.43. 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 firm has a 50-day moving average price of $35.33 and a 200-day moving average price of $33.19. 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 quarterly earnings results on Wednesday, July 30th. The company reported $1.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.28. Fresh Del Monte Produce had a return on equity of 6.84% and a net margin of 3.49%.The company had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.16 billion. During the same quarter last year, the company posted $1.06 EPS. The company's revenue for the quarter was up 3.8% compared to the same quarter last year.

Fresh Del Monte Produce Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 5th. Stockholders of record on Wednesday, August 13th were paid a $0.30 dividend. The ex-dividend date was 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%.

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.