Intech Investment Management LLC Takes Position in Fresh Del Monte Produce Inc. (NYSE:FDP)

Intech Investment Management LLC bought a new position in shares of Fresh Del Monte Produce Inc. (NYSE:FDP) during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor bought 12,701 shares of the company’s stock, valued at approximately $375,000.

A number of other hedge funds also recently added to or reduced their stakes in the business. American Century Companies Inc. grew its stake in shares of Fresh Del Monte Produce by 29.8% in the second quarter. American Century Companies Inc. now owns 681,344 shares of the company’s stock worth $14,887,000 after acquiring an additional 156,344 shares in the last quarter. Millennium Management LLC grew its stake in Fresh Del Monte Produce by 17.5% during the 2nd quarter. Millennium Management LLC now owns 636,423 shares of the company’s stock worth $13,906,000 after purchasing an additional 94,854 shares in the last quarter. LSV Asset Management increased its holdings in Fresh Del Monte Produce by 31.4% during the 2nd quarter. LSV Asset Management now owns 370,095 shares of the company’s stock worth $8,087,000 after purchasing an additional 88,498 shares during the period. Marshall Wace LLP acquired a new stake in Fresh Del Monte Produce in the 2nd quarter valued at about $930,000. Finally, Cubist Systematic Strategies LLC boosted its stake in shares of Fresh Del Monte Produce by 27.1% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 186,347 shares of the company’s stock valued at $4,072,000 after buying an additional 39,768 shares during the period. 64.83% of the stock is currently owned by institutional investors and hedge funds.

Fresh Del Monte Produce Stock Down 1.3 %

FDP stock opened at $34.47 on Wednesday. The company’s 50 day moving average price is $31.24 and its 200 day moving average price is $27.22. The firm has a market capitalization of $1.65 billion, a price-to-earnings ratio of 104.46 and a beta of 0.41. Fresh Del Monte Produce Inc. has a fifty-two week low of $21.23 and a fifty-two week high of $35.27. 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 (NYSE:FDP) last announced its quarterly earnings data on Thursday, October 31st. The company reported $0.77 EPS for the quarter, beating analysts’ consensus estimates of $0.47 by $0.30. Fresh Del Monte Produce had a net margin of 0.36% and a return on equity of 5.91%. The company had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $989.45 million. During the same period in the prior year, the firm posted $0.35 EPS. The company’s quarterly revenue was up 1.6% compared to the same quarter last year.

Fresh Del Monte Produce Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Thursday, November 14th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.90%. The ex-dividend date is Thursday, November 14th. Fresh Del Monte Produce’s dividend payout ratio is presently 303.04%.

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.