UniSuper Management Pty Ltd Invests $1.15 Million in 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 acquired a new position in shares of Fresh Del Monte Produce, Inc. (NYSE:FDP - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 37,284 shares of the company's stock, valued at approximately $1,149,000. UniSuper Management Pty Ltd owned approximately 0.08% of Fresh Del Monte Produce at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in shares of Fresh Del Monte Produce by 2.8% during the first quarter. Vanguard Group Inc. now owns 4,943,089 shares of the company's stock worth $152,395,000 after buying an additional 133,638 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Fresh Del Monte Produce by 2.7% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,135,569 shares of the company's stock valued at $35,010,000 after purchasing an additional 30,216 shares in the last quarter. American Century Companies Inc. increased its holdings in Fresh Del Monte Produce by 15.9% during the 1st quarter. American Century Companies Inc. now owns 1,101,091 shares of the company's stock valued at $33,947,000 after purchasing an additional 150,983 shares in the last quarter. Invesco Ltd. increased its holdings in Fresh Del Monte Produce by 1.2% during the 1st quarter. Invesco Ltd. now owns 930,921 shares of the company's stock valued at $28,700,000 after purchasing an additional 11,309 shares in the last quarter. Finally, Millennium Management LLC increased its holdings in Fresh Del Monte Produce by 1,647.2% during the 1st quarter. Millennium Management LLC now owns 596,496 shares of the company's stock valued at $18,390,000 after purchasing an additional 562,356 shares in the last quarter. Institutional investors and hedge funds own 64.83% of the company's stock.

Fresh Del Monte Produce Stock Up 0.4%

NYSE FDP opened at $35.30 on Thursday. The stock has a fifty day moving average of $35.47 and a 200-day moving average of $33.27. The stock has a market capitalization of $1.69 billion, a P/E ratio of 11.31 and a beta of 0.43. Fresh Del Monte Produce, Inc. has a 52 week low of $26.50 and a 52 week 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.

Fresh Del Monte Produce (NYSE:FDP - Get Free Report) last released 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. The company had revenue of $1.18 billion during the quarter, compared to analysts' expectations of $1.16 billion. Fresh Del Monte Produce had a return on equity of 6.84% and a net margin of 3.49%.The business's revenue for the quarter was up 3.8% on a year-over-year basis. During the same period last year, the firm earned $1.06 EPS.

Fresh Del Monte Produce Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 5th. Investors of record on Wednesday, August 13th were given a $0.30 dividend. This represents a $1.20 annualized dividend and a 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%.

Wall Street Analyst Weigh In

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

Insider Transactions at Fresh Del Monte Produce

In other news, SVP Gianpaolo Renino sold 12,192 shares of the company's stock in a transaction dated Wednesday, August 20th. The stock was 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 directly owned 3,197 shares of the company's stock, valued at $116,786.41. This represents a 79.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Effie D. Silva sold 1,315 shares of the company's stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $37.54, for a total value of $49,365.10. Following 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. Insiders sold 137,039 shares of company stock valued at $5,010,709 over the last three months. 31.60% of the stock is currently owned by corporate insiders.

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.

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