Allspring Global Investments Holdings LLC Buys 15,418 Shares of Fresh Del Monte Produce Inc. (NYSE:FDP)

Allspring Global Investments Holdings LLC boosted its stake in shares of Fresh Del Monte Produce Inc. (NYSE:FDP) by 30.2% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 66,525 shares of the company’s stock after purchasing an additional 15,418 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.14% of Fresh Del Monte Produce worth $1,746,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. increased its stake in shares of Fresh Del Monte Produce by 0.4% in the third quarter. Vanguard Group Inc. now owns 4,408,167 shares of the company’s stock worth $113,907,000 after purchasing an additional 16,372 shares during the period. Charles Schwab Investment Management Inc. increased its position in Fresh Del Monte Produce by 2.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 821,636 shares of the company’s stock worth $21,231,000 after buying an additional 21,664 shares during the period. Victory Capital Management Inc. lifted its holdings in shares of Fresh Del Monte Produce by 15.7% during the third quarter. Victory Capital Management Inc. now owns 479,557 shares of the company’s stock worth $12,392,000 after buying an additional 64,993 shares during the last quarter. AQR Capital Management LLC boosted its position in shares of Fresh Del Monte Produce by 83.8% in the third quarter. AQR Capital Management LLC now owns 280,064 shares of the company’s stock valued at $7,237,000 after acquiring an additional 127,682 shares during the period. Finally, American Century Companies Inc. increased its position in Fresh Del Monte Produce by 6.9% during the third quarter. American Century Companies Inc. now owns 236,183 shares of the company’s stock worth $6,103,000 after acquiring an additional 15,184 shares during the period. 64.83% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, TheStreet lowered shares of Fresh Del Monte Produce from a “b-” rating to a “c” rating in a research report on Monday, February 26th.

Fresh Del Monte Produce Trading Up 0.3 %

Shares of FDP opened at $25.85 on Tuesday. The stock’s 50-day moving average price is $24.76 and its 200 day moving average price is $24.79. The company has a quick ratio of 1.01, a current ratio of 2.12 and a debt-to-equity ratio of 0.21. Fresh Del Monte Produce Inc. has a 12-month low of $21.41 and a 12-month high of $29.49. The firm has a market capitalization of $1.23 billion, a price-to-earnings ratio of -103.40 and a beta of 0.56.

Fresh Del Monte Produce (NYSE:FDP) last released its quarterly earnings data on Monday, February 26th. The company reported $0.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.06). Fresh Del Monte Produce had a negative net margin of 0.26% and a positive return on equity of 5.11%. The firm had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter in the prior year, the firm posted $0.45 earnings per share. The business’s revenue for the quarter was down 3.0% on a year-over-year basis.

Fresh Del Monte Produce Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Thursday, March 7th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.87%. This is an increase from Fresh Del Monte Produce’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Wednesday, March 6th. Fresh Del Monte Produce’s dividend payout ratio (DPR) is presently -400.00%.

Insider Activity

In other Fresh Del Monte Produce news, COO Mohammed Abbas sold 3,222 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $24.35, for a total transaction of $78,455.70. Following the completion of the transaction, the chief operating officer now owns 29,945 shares in the company, valued at $729,160.75. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, CFO Monica Vicente sold 1,083 shares of Fresh Del Monte Produce stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $24.35, for a total transaction of $26,371.05. Following the completion of the transaction, the chief financial officer now directly owns 5,266 shares of the company’s stock, valued at approximately $128,227.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Mohammed Abbas sold 3,222 shares of the business’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $24.35, for a total transaction of $78,455.70. Following the completion of the transaction, the chief operating officer now owns 29,945 shares in the company, valued at $729,160.75. The disclosure for this sale can be found here. In the last three months, insiders have sold 10,569 shares of company stock worth $258,509. Corporate insiders own 36.96% of the company’s stock.

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.