JPMorgan Chase & Co. Buys 88,900 Shares of Fresh Del Monte Produce Inc. (NYSE:FDP)

JPMorgan Chase & Co. boosted its position in Fresh Del Monte Produce Inc. (NYSE:FDP) by 25.5% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 437,998 shares of the company’s stock after buying an additional 88,900 shares during the period. JPMorgan Chase & Co. owned approximately 0.91% of Fresh Del Monte Produce worth $12,938,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. State Street Corp lifted its holdings in shares of Fresh Del Monte Produce by 1.2% in the 3rd quarter. State Street Corp now owns 1,306,527 shares of the company’s stock worth $38,595,000 after purchasing an additional 15,278 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Fresh Del Monte Produce by 5.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,060,576 shares of the company’s stock valued at $31,329,000 after buying an additional 59,521 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Fresh Del Monte Produce by 0.4% in the third quarter. Geode Capital Management LLC now owns 773,116 shares of the company’s stock valued at $22,842,000 after buying an additional 2,767 shares in the last quarter. American Century Companies Inc. grew its holdings in shares of 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 buying an additional 156,344 shares during the last quarter. Finally, Millennium Management LLC increased its position in shares of Fresh Del Monte Produce by 17.5% during the second quarter. Millennium Management LLC now owns 636,423 shares of the company’s stock worth $13,906,000 after acquiring an additional 94,854 shares in the last quarter. 64.83% of the stock is owned by institutional investors.

Fresh Del Monte Produce Price Performance

Shares of NYSE FDP opened at $30.54 on Friday. The stock has a market cap of $1.46 billion, a price-to-earnings ratio of 92.55 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 fifty-two week low of $21.23 and a fifty-two week high of $35.27. The firm’s 50-day simple moving average is $33.44 and its 200 day simple moving average is $29.30.

Fresh Del Monte Produce (NYSE:FDP) last posted its earnings results on Thursday, October 31st. The company reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates of $0.47 by $0.30. The company had revenue of $1.02 billion for the quarter, compared to analyst estimates of $989.45 million. Fresh Del Monte Produce had a return on equity of 5.91% and a net margin of 0.36%. The company’s revenue for the quarter was up 1.6% on a year-over-year basis. During the same quarter last year, the company earned $0.35 earnings per share.

Fresh Del Monte Produce Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Thursday, November 14th were issued a $0.25 dividend. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $1.00 annualized dividend and a dividend yield of 3.27%. Fresh Del Monte Produce’s dividend payout ratio is currently 303.03%.

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.