Fresh Del Monte Produce Inc. (NYSE:FDP) Stock Position Decreased by Great Lakes Advisors LLC

Great Lakes Advisors LLC trimmed its position in shares of Fresh Del Monte Produce Inc. (NYSE:FDP) by 11.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,108 shares of the company’s stock after selling 908 shares during the quarter. Great Lakes Advisors LLC’s holdings in Fresh Del Monte Produce were worth $236,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also made changes to their positions in the company. Amundi grew its position in Fresh Del Monte Produce by 168.3% in the fourth quarter. Amundi now owns 16,216 shares of the company’s stock worth $504,000 after acquiring an additional 10,172 shares in the last quarter. Proficio Capital Partners LLC acquired a new stake in shares of Fresh Del Monte Produce in the 4th quarter valued at $909,000. Victory Capital Management Inc. increased its position in Fresh Del Monte Produce by 9.3% during the fourth quarter. Victory Capital Management Inc. now owns 12,647 shares of the company’s stock worth $420,000 after buying an additional 1,076 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Fresh Del Monte Produce by 4.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,105,353 shares of the company’s stock valued at $36,709,000 after buying an additional 44,777 shares in the last quarter. Finally, Bailard Inc. raised its stake in shares of Fresh Del Monte Produce by 100.0% in the 4th quarter. Bailard Inc. now owns 21,800 shares of the company’s stock valued at $724,000 after acquiring an additional 10,900 shares in the last quarter. Institutional investors own 64.83% of the company’s stock.

Insider Activity at Fresh Del Monte Produce

In other news, SVP Ziad Nabulsi sold 1,725 shares of the stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $30.42, for a total value of $52,474.50. Following the completion of the transaction, the senior vice president now owns 11,498 shares in the company, valued at approximately $349,769.16. This represents a 13.05 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Monica Vicente sold 2,532 shares of the firm’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $30.42, for a total transaction of $77,023.44. Following the transaction, the chief financial officer now directly owns 10,808 shares of the company’s stock, valued at $328,779.36. The trade was a 18.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 9,321 shares of company stock worth $283,545. Company insiders own 30.10% of the company’s stock.

Fresh Del Monte Produce Trading Down 0.5 %

Fresh Del Monte Produce stock opened at $29.97 on Monday. Fresh Del Monte Produce Inc. has a 52 week low of $21.23 and a 52 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. The firm has a market capitalization of $1.44 billion, a PE ratio of 90.81 and a beta of 0.33. The business’s 50-day simple moving average is $30.78 and its 200-day simple moving average is $31.21.

Fresh Del Monte Produce (NYSE:FDP) last issued its quarterly earnings results on Monday, February 24th. The company reported $0.26 EPS for the quarter, missing the consensus estimate of $0.42 by ($0.16). Fresh Del Monte Produce had a return on equity of 5.91% and a net margin of 0.36%. The business had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $1.14 billion. During the same period in the prior year, the firm earned $0.25 earnings per share. The business’s quarterly revenue was up .5% on a year-over-year basis.

Fresh Del Monte Produce announced that its board has authorized a share repurchase plan on Monday, February 24th that authorizes the company to buyback $150.00 million in outstanding shares. This buyback authorization authorizes the company to purchase up to 10.4% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.

Fresh Del Monte Produce Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Monday, March 10th will be given a dividend of $0.30 per share. The ex-dividend date is Monday, March 10th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 4.00%. This is a positive change from Fresh Del Monte Produce’s previous quarterly dividend of $0.25. Fresh Del Monte Produce’s dividend payout ratio is currently 40.40%.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded shares of Fresh Del Monte Produce from a “buy” rating to a “hold” rating in a report on Friday, March 7th.

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.