Victory Capital Management Inc. Takes $342,000 Position in Fresh Del Monte Produce Inc. (NYSE:FDP)

Victory Capital Management Inc. acquired a new stake in Fresh Del Monte Produce Inc. (NYSE:FDP) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 11,571 shares of the company’s stock, valued at approximately $342,000.

Other large investors have also modified their holdings of the company. nVerses Capital LLC acquired a new stake in shares of Fresh Del Monte Produce in the second quarter valued at approximately $28,000. GAMMA Investing LLC boosted its holdings in shares of Fresh Del Monte Produce by 232.1% in the second quarter. GAMMA Investing LLC now owns 1,604 shares of the company’s stock valued at $35,000 after acquiring an additional 1,121 shares during the period. Lazard Asset Management LLC acquired a new stake in shares of Fresh Del Monte Produce in the first quarter valued at approximately $48,000. Canada Pension Plan Investment Board purchased a new stake in shares of Fresh Del Monte Produce during the second quarter worth approximately $68,000. Finally, Point72 DIFC Ltd purchased a new stake in shares of Fresh Del Monte Produce during the second quarter worth approximately $91,000. 64.83% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, StockNews.com upgraded Fresh Del Monte Produce from a “hold” rating to a “buy” rating in a research note on Monday, August 5th.

Fresh Del Monte Produce Price Performance

Fresh Del Monte Produce stock opened at $33.75 on Friday. Fresh Del Monte Produce Inc. has a 12 month low of $21.23 and a 12 month high of $35.27. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.09 and a quick ratio of 1.04. The business has a 50 day simple moving average of $31.04 and a 200-day simple moving average of $27.05. The stock has a market capitalization of $1.62 billion, a PE ratio of 102.28 and a beta of 0.41.

Fresh Del Monte Produce (NYSE:FDP) last released its quarterly earnings results on Thursday, October 31st. The company reported $0.77 EPS for the quarter, topping the consensus estimate of $0.47 by $0.30. Fresh Del Monte Produce had a return on equity of 5.91% and a net margin of 0.36%. The business had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $989.45 million. During the same quarter in the prior year, the business earned $0.35 earnings per share. The company’s quarterly revenue was up 1.6% compared to the same quarter last year.

Fresh Del Monte Produce Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Thursday, November 14th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.96%. The ex-dividend date of this dividend is Thursday, November 14th. Fresh Del Monte Produce’s payout ratio is 303.04%.

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.