UniSuper Management Pty Ltd Purchases Shares of 37,284 Fresh Del Monte Produce, Inc. $FDP

Key Points

• UniSuper Management Pty Ltd has invested approximately $1.15 million in Fresh Del Monte Produce, acquiring 37,284 shares, which represents about 0.08% of the company.
• Fresh Del Monte Produce recently reported an EPS of $1.23, exceeding expectations, and a 3.8% year-over-year revenue increase to $1.18 billion.
• The company announced a quarterly dividend of $0.30, resulting in an annualized yield of 3.4% and a payout ratio of 38.46%.

UniSuper Management Pty Ltd purchased a new stake in Fresh Del Monte Produce, Inc. (NYSE:FDP - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 37,284 shares of the company's stock, valued at approximately $1,149,000. UniSuper Management Pty Ltd owned about 0.08% of Fresh Del Monte Produce at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. McIlrath & Eck LLC purchased a new stake in shares of Fresh Del Monte Produce during the 4th quarter valued at $48,000. State of Wyoming purchased a new stake in shares of Fresh Del Monte Produce during the 4th quarter valued at $54,000. Quantinno Capital Management LP purchased a new stake in shares of Fresh Del Monte Produce during the 4th quarter valued at $202,000. Kestra Private Wealth Services LLC purchased a new stake in shares of Fresh Del Monte Produce during the 1st quarter valued at $235,000. Finally, Magnetar Financial LLC purchased a new stake in shares of Fresh Del Monte Produce during the 1st quarter valued at $247,000. 64.83% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Fresh Del Monte Produce news, CEO Ghazaleh Mohammad Abu sold 50,000 shares of the firm's stock in a transaction dated 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 completion of the transaction, the chief executive officer owned 4,990,782 shares in the company, valued at $179,268,889.44. This trade represents a 0.99% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Ziad Nabulsi sold 1,000 shares of the firm's 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 owned 10,498 shares of the company's stock, valued at approximately $377,403.10. This represents a 8.70% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 137,039 shares of company stock worth $5,010,709 in the last 90 days. 30.10% of the stock is owned by company insiders.

Fresh Del Monte Produce Stock Performance

Shares of FDP stock traded up $0.19 on Tuesday, hitting $35.61. 264,998 shares of the stock were exchanged, compared to its average volume of 285,086. 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 market capitalization of $1.71 billion, a PE ratio of 11.41 and a beta of 0.43. Fresh Del Monte Produce, Inc. has a one year low of $26.50 and a one year high of $40.75. The firm's 50 day moving average is $35.68 and its two-hundred day moving average is $33.44.

Fresh Del Monte Produce (NYSE:FDP - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $1.23 earnings per share for the quarter, topping the consensus estimate of $0.95 by $0.28. The company had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.16 billion. Fresh Del Monte Produce had a return on equity of 6.84% and a net margin of 3.49%.The firm's quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.06 EPS.

Fresh Del Monte Produce Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 5th. Shareholders 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 yield of 3.4%. Fresh Del Monte Produce's dividend payout ratio (DPR) is currently 38.46%.

Analysts Set New Price Targets

Separately, Wall Street Zen lowered Fresh Del Monte Produce from a "strong-buy" rating to a "buy" rating in a research report on Saturday.

About Fresh Del Monte Produce

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.