Chesapeake Capital Corp IL Takes Position in Fresh Del Monte Produce Inc. (NYSE:FDP)

Chesapeake Capital Corp IL acquired a new stake in shares of Fresh Del Monte Produce Inc. (NYSE:FDP) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 20,221 shares of the company’s stock, valued at approximately $592,000.

Several other institutional investors have also added to or reduced their stakes in FDP. American Century Companies Inc. raised its position in Fresh Del Monte Produce by 29.8% during the second quarter. American Century Companies Inc. now owns 681,344 shares of the company’s stock valued at $14,887,000 after purchasing an additional 156,344 shares in the last quarter. Vanguard Group Inc. raised its position in Fresh Del Monte Produce by 3.2% during the first quarter. Vanguard Group Inc. now owns 4,600,314 shares of the company’s stock valued at $119,194,000 after purchasing an additional 143,363 shares in the last quarter. Millennium Management LLC raised its position in Fresh Del Monte Produce by 17.5% during the second quarter. Millennium Management LLC now owns 636,423 shares of the company’s stock valued at $13,906,000 after purchasing an additional 94,854 shares in the last quarter. LSV Asset Management raised its position in Fresh Del Monte Produce by 31.4% during the second quarter. LSV Asset Management now owns 370,095 shares of the company’s stock valued at $8,087,000 after purchasing an additional 88,498 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. acquired a new position in Fresh Del Monte Produce during the first quarter valued at approximately $1,749,000. 64.83% of the stock is currently owned by institutional investors and hedge funds.

Fresh Del Monte Produce Stock Up 1.0 %

Shares of NYSE:FDP opened at $33.78 on Friday. The company has a fifty day moving average of $30.15 and a 200-day moving average of $26.50. The company has a market capitalization of $1.62 billion, a PE ratio of 102.37 and a beta of 0.41. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.04 and a current ratio of 2.09. Fresh Del Monte Produce Inc. has a 52-week low of $21.23 and a 52-week high of $35.27.

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

Fresh Del Monte Produce Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Thursday, November 14th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $1.00 annualized dividend and a dividend yield of 2.96%. Fresh Del Monte Produce’s dividend payout ratio (DPR) is presently 303.04%.

Insider Transactions at Fresh Del Monte Produce

In related news, VP Reyes Jorge Pelaez sold 5,417 shares of the business’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $27.75, for a total value of $150,321.75. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 30.10% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.