ClearAlpha Technologies LP Invests $252,000 in Fresh Del Monte Produce Inc. (NYSE:FDP)

ClearAlpha Technologies LP acquired a new stake in Fresh Del Monte Produce Inc. (NYSE:FDP) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 8,542 shares of the company’s stock, valued at approximately $252,000.

A number of other institutional investors also recently added to or reduced their stakes in FDP. Charles Schwab Investment Management Inc. raised its stake in shares of Fresh Del Monte Produce by 5.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,060,576 shares of the company’s stock worth $31,329,000 after buying an additional 59,521 shares in the last quarter. American Century Companies Inc. raised its position in 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 lifted its holdings in Fresh Del Monte Produce by 17.5% in the second quarter. Millennium Management LLC now owns 636,423 shares of the company’s stock valued at $13,906,000 after acquiring an additional 94,854 shares during the period. LSV Asset Management boosted its position in shares of 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 in the last quarter. Finally, AQR Capital Management LLC grew its stake in shares of Fresh Del Monte Produce by 7.7% during the 2nd quarter. AQR Capital Management LLC now owns 337,076 shares of the company’s stock worth $7,365,000 after purchasing an additional 24,111 shares during the period. Hedge funds and other institutional investors own 64.83% of the company’s stock.

Wall Street Analyst Weigh In

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

Fresh Del Monte Produce Stock Performance

FDP opened at $34.92 on Tuesday. Fresh Del Monte Produce Inc. has a 1-year low of $21.23 and a 1-year high of $35.27. The stock has a market cap of $1.67 billion, a P/E ratio of 105.82 and a beta of 0.41. The stock’s 50 day simple moving average is $31.13 and its 200 day simple moving average is $27.15. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.09 and a quick ratio of 1.04.

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 the consensus estimate 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%. Fresh Del Monte Produce’s revenue was up 1.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.35 earnings per share.

Fresh Del Monte Produce Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Thursday, November 14th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.86%. The ex-dividend date of this dividend is Thursday, November 14th. Fresh Del Monte Produce’s payout ratio is currently 303.03%.

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.