American Century Companies Inc. Increases Stake in Fresh Del Monte Produce, Inc. $FDP

American Century Companies Inc. increased its stake in Fresh Del Monte Produce, Inc. (NYSE:FDP) by 12.8% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,241,788 shares of the company’s stock after acquiring an additional 140,697 shares during the period. American Century Companies Inc. owned approximately 2.59% of Fresh Del Monte Produce worth $40,259,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. State of Wyoming raised its stake in Fresh Del Monte Produce by 230.1% during the first quarter. State of Wyoming now owns 5,321 shares of the company’s stock worth $164,000 after purchasing an additional 3,709 shares during the period. Parallel Advisors LLC increased its holdings in shares of Fresh Del Monte Produce by 81.0% during the 2nd quarter. Parallel Advisors LLC now owns 5,475 shares of the company’s stock worth $178,000 after buying an additional 2,450 shares during the last quarter. Corton Capital Inc. purchased a new position in shares of Fresh Del Monte Produce in the 2nd quarter worth $203,000. Blue Zone Wealth Advisors LLC acquired a new position in Fresh Del Monte Produce in the second quarter valued at $222,000. Finally, Magnetar Financial LLC acquired a new position in Fresh Del Monte Produce in the first quarter valued at $247,000. Institutional investors and hedge funds own 64.83% of the company’s stock.

Wall Street Analyst Weigh In

FDP has been the subject of several research analyst reports. Weiss Ratings restated a “hold (c+)” rating on shares of Fresh Del Monte Produce in a research note on Tuesday. Wall Street Zen cut Fresh Del Monte Produce from a “buy” rating to a “hold” rating in a report on Saturday, November 1st. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the stock presently has an average rating of “Hold”.

Insider Buying and Selling

In other news, SVP Effie D. Silva sold 1,325 shares of the firm’s stock in a transaction that occurred on Friday, November 7th. The shares were sold at an average price of $36.79, for a total transaction of $48,746.75. Following the completion of the sale, the senior vice president owned 6,052 shares of the company’s stock, valued at approximately $222,653.08. This trade represents a 17.96% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Michael J. Berthelot sold 6,000 shares of the company’s stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $35.85, for a total transaction of $215,100.00. Following the completion of the sale, the director directly owned 7,499 shares in the company, valued at $268,839.15. This represents a 44.45% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 7,598 shares of company stock valued at $273,607 in the last three months. Corporate insiders own 31.60% of the company’s stock.

Fresh Del Monte Produce Stock Performance

NYSE:FDP opened at $36.14 on Friday. The firm has a 50-day moving average of $35.03 and a two-hundred day moving average of $34.78. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.09 and a quick ratio of 1.11. The stock has a market cap of $1.73 billion, a P/E ratio of 22.17 and a beta of 0.39. 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 released its quarterly earnings results on Wednesday, October 29th. The company reported $0.69 EPS for the quarter, topping the consensus estimate of $0.50 by $0.19. The business had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $1.04 billion. Fresh Del Monte Produce had a return on equity of 6.63% and a net margin of 1.84%.The company’s revenue was up .2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.77 earnings per share.

Fresh Del Monte Produce Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 5th. Stockholders of record on Wednesday, November 12th will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 3.3%. The ex-dividend date is Wednesday, November 12th. Fresh Del Monte Produce’s dividend payout ratio is 73.62%.

Fresh Del Monte Produce Company 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.