Zurcher Kantonalbank Zurich Cantonalbank Purchases 1,930 Shares of Fresh Del Monte Produce, Inc. (NYSE:FDP)

Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Fresh Del Monte Produce, Inc. (NYSE:FDP) by 20.0% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 11,594 shares of the company’s stock after buying an additional 1,930 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Fresh Del Monte Produce were worth $357,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Invesco Ltd. grew its holdings in Fresh Del Monte Produce by 21.7% during the 4th quarter. Invesco Ltd. now owns 919,612 shares of the company’s stock valued at $30,540,000 after buying an additional 164,120 shares in the last quarter. Geode Capital Management LLC grew its holdings in Fresh Del Monte Produce by 0.4% during the 4th quarter. Geode Capital Management LLC now owns 776,161 shares of the company’s stock valued at $25,782,000 after buying an additional 3,045 shares in the last quarter. Bridgeway Capital Management LLC grew its holdings in Fresh Del Monte Produce by 2.9% during the 4th quarter. Bridgeway Capital Management LLC now owns 453,540 shares of the company’s stock valued at $15,062,000 after buying an additional 12,723 shares in the last quarter. Allianz Asset Management GmbH grew its holdings in Fresh Del Monte Produce by 95.8% during the 1st quarter. Allianz Asset Management GmbH now owns 377,312 shares of the company’s stock valued at $11,633,000 after buying an additional 184,573 shares in the last quarter. Finally, Northern Trust Corp grew its holdings in Fresh Del Monte Produce by 10.1% during the 4th quarter. Northern Trust Corp now owns 376,203 shares of the company’s stock valued at $12,494,000 after buying an additional 34,447 shares in the last quarter. Hedge funds and other institutional investors own 64.83% of the company’s stock.

Analyst Ratings Changes

Separately, Wall Street Zen upgraded shares of Fresh Del Monte Produce from a “buy” rating to a “strong-buy” rating in a research report on Saturday.

Fresh Del Monte Produce Stock Up 1.2%

FDP stock opened at $36.49 on Friday. 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 company’s 50 day moving average is $34.05 and its 200 day moving average is $32.44. The stock has a market cap of $1.75 billion, a price-to-earnings ratio of 11.70 and a beta of 0.42. Fresh Del Monte Produce, Inc. has a 1-year low of $26.50 and a 1-year high of $40.75.

Fresh Del Monte Produce (NYSE:FDP) last posted its quarterly earnings data 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 for the quarter, compared to analysts’ expectations of $1.16 billion. Fresh Del Monte Produce had a net margin of 3.49% and a return on equity of 6.84%. Fresh Del Monte Produce’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period in the prior year, the business earned $1.06 earnings per share.

Fresh Del Monte Produce Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 5th. Shareholders of record on Wednesday, August 13th will be given a dividend of $0.30 per share. The ex-dividend date is Wednesday, August 13th. This represents a $1.20 dividend on an annualized basis and a yield of 3.3%. Fresh Del Monte Produce’s dividend payout ratio (DPR) is presently 38.46%.

Insider Buying and Selling at Fresh Del Monte Produce

In other Fresh Del Monte Produce news, CEO Ghazaleh Mohammad Abu sold 39,130 shares of the firm’s stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $37.22, for a total transaction of $1,456,418.60. Following the sale, the chief executive officer owned 5,093,911 shares in the company, valued at $189,595,367.42. This trade represents a 0.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Ziad Nabulsi sold 1,000 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the senior vice president directly 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 41,445 shares of company stock worth $1,541,734 over the last 90 days. Corporate insiders own 31.60% of the company’s stock.

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.