Fresh Del Monte Produce, Inc. $FDP Position Increased by Vanguard Group Inc.

Vanguard Group Inc. increased its stake in Fresh Del Monte Produce, Inc. (NYSE:FDP) by 2.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,943,089 shares of the company’s stock after purchasing an additional 133,638 shares during the period. Vanguard Group Inc. owned 10.31% of Fresh Del Monte Produce worth $152,395,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in FDP. LPL Financial LLC bought a new stake in shares of Fresh Del Monte Produce in the 4th quarter worth approximately $434,000. Wells Fargo & Company MN lifted its holdings in shares of Fresh Del Monte Produce by 36.0% in the 4th quarter. Wells Fargo & Company MN now owns 36,565 shares of the company’s stock worth $1,214,000 after purchasing an additional 9,673 shares during the last quarter. Bank of Montreal Can raised its stake in Fresh Del Monte Produce by 7.4% during the 4th quarter. Bank of Montreal Can now owns 9,669 shares of the company’s stock valued at $321,000 after acquiring an additional 666 shares in the last quarter. Sterling Capital Management LLC raised its stake in Fresh Del Monte Produce by 795.0% during the 4th quarter. Sterling Capital Management LLC now owns 1,083 shares of the company’s stock valued at $36,000 after acquiring an additional 962 shares in the last quarter. Finally, Mariner LLC bought a new stake in Fresh Del Monte Produce during the 4th quarter valued at $269,000. Institutional investors own 64.83% of the company’s stock.

Fresh Del Monte Produce Stock Down 1.2%

Shares of FDP stock opened at $36.1480 on Thursday. Fresh Del Monte Produce, Inc. has a 1 year low of $26.50 and a 1 year high of $40.75. The stock has a market cap of $1.73 billion, a PE ratio of 11.59 and a beta of 0.42. The business’s fifty day moving average is $34.52 and its 200-day moving average is $32.72. 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) 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. 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 return on equity of 6.84% and a net margin of 3.49%.The firm’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 announced a quarterly dividend, which will be paid on Friday, September 5th. Investors of record on Wednesday, August 13th will be issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date is Wednesday, August 13th. Fresh Del Monte Produce’s payout ratio is presently 38.46%.

Analysts Set New Price Targets

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

Insider Buying and Selling

In related news, SVP Effie D. Silva sold 1,315 shares of Fresh Del Monte Produce stock in a transaction on 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 in the company, valued at $276,932.58. The trade was a 15.13% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Ziad Nabulsi sold 1,000 shares of Fresh Del Monte Produce 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 completion of the transaction, the senior vice president owned 10,498 shares in the company, valued at $377,403.10. The trade was a 8.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 124,574 shares of company stock worth $4,555,575 in the last three months. 31.60% of the stock is currently owned by 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.