Intech Investment Management LLC Acquires 32,145 Shares of Fresh Del Monte Produce Inc. (NYSE:FDP)

Intech Investment Management LLC raised its holdings in shares of Fresh Del Monte Produce Inc. (NYSE:FDP) by 253.1% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 44,846 shares of the company’s stock after acquiring an additional 32,145 shares during the quarter. Intech Investment Management LLC owned approximately 0.09% of Fresh Del Monte Produce worth $1,489,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Pacer Advisors Inc. acquired a new stake in shares of Fresh Del Monte Produce in the 4th quarter valued at approximately $42,522,000. Advisors Preferred LLC acquired a new stake in shares of Fresh Del Monte Produce in the 4th quarter valued at approximately $7,459,000. Ellsworth Advisors LLC acquired a new stake in shares of Fresh Del Monte Produce in the 4th quarter valued at approximately $4,298,000. Dean Investment Associates LLC boosted its holdings in shares of Fresh Del Monte Produce by 109.2% in the 3rd quarter. Dean Investment Associates LLC now owns 177,101 shares of the company’s stock valued at $5,232,000 after buying an additional 92,438 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in shares of Fresh Del Monte Produce by 25.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 437,998 shares of the company’s stock valued at $12,938,000 after buying an additional 88,900 shares during the last quarter. 64.83% of the stock is owned by institutional investors.

Fresh Del Monte Produce Trading Down 1.1 %

NYSE FDP opened at $29.61 on Friday. The company has a market cap of $1.42 billion, a PE ratio of 89.72 and a beta of 0.33. The company has a current ratio of 2.09, a quick ratio of 1.04 and a debt-to-equity ratio of 0.14. Fresh Del Monte Produce Inc. has a 12 month low of $21.23 and a 12 month high of $35.27. The stock has a 50 day moving average of $30.68 and a 200-day moving average of $31.21.

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

Fresh Del Monte Produce Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Monday, March 10th will be issued a dividend of $0.30 per share. This is an increase from Fresh Del Monte Produce’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Monday, March 10th. This represents a $1.20 annualized dividend and a yield of 4.05%. Fresh Del Monte Produce’s dividend payout ratio (DPR) is currently 40.40%.

Fresh Del Monte Produce declared that its board has authorized a stock repurchase program on Monday, February 24th that permits the company to buyback $150.00 million in outstanding shares. This buyback authorization permits the company to reacquire up to 10.4% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Analyst Ratings Changes

Separately, StockNews.com raised Fresh Del Monte Produce from a “hold” rating to a “buy” rating in a report on Monday, March 17th.

Insider Buying and Selling at Fresh Del Monte Produce

In other Fresh Del Monte Produce news, COO Mohammed Abbas sold 5,064 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $30.42, for a total transaction of $154,046.88. Following the transaction, the chief operating officer now owns 45,560 shares in the company, valued at $1,385,935.20. This trade represents a 10.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Ziad Nabulsi sold 1,725 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $30.42, for a total value of $52,474.50. Following the transaction, the senior vice president now owns 11,498 shares in the company, valued at $349,769.16. The trade was a 13.05 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 9,321 shares of company stock valued at $283,545 in the last quarter. 30.10% of the stock is currently owned by insiders.

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.