Fresh Del Monte Produce Inc. (NYSE:FDP) Shares Purchased by Vanguard Group Inc.

Vanguard Group Inc. raised its stake in Fresh Del Monte Produce Inc. (NYSE:FDP) by 2.8% in the fourth quarter, HoldingsChannel.com reports. The fund owned 4,809,451 shares of the company’s stock after buying an additional 133,122 shares during the quarter. Vanguard Group Inc. owned 0.10% of Fresh Del Monte Produce worth $159,722,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently made changes to their positions in the stock. Sherman Asset Management Inc. bought a new stake in shares of Fresh Del Monte Produce in the 4th quarter worth approximately $54,000. Signaturefd LLC boosted its holdings in shares of Fresh Del Monte Produce by 244.3% during the fourth quarter. Signaturefd LLC now owns 1,663 shares of the company’s stock valued at $55,000 after acquiring an additional 1,180 shares during the period. HHM Wealth Advisors LLC boosted its holdings in shares of Fresh Del Monte Produce by 75.0% during the fourth quarter. HHM Wealth Advisors LLC now owns 1,750 shares of the company’s stock valued at $58,000 after acquiring an additional 750 shares during the period. KBC Group NV grew its position in shares of Fresh Del Monte Produce by 65.0% during the fourth quarter. KBC Group NV now owns 2,550 shares of the company’s stock worth $85,000 after acquiring an additional 1,005 shares during the last quarter. Finally, GAMMA Investing LLC increased its holdings in shares of Fresh Del Monte Produce by 106.5% in the 4th quarter. GAMMA Investing LLC now owns 7,482 shares of the company’s stock worth $248,000 after acquiring an additional 3,858 shares during the period. 64.83% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Fresh Del Monte Produce news, SVP Marissa R. Tenazas sold 1,148 shares of the company’s stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $31.05, for a total value of $35,645.40. Following the completion of the sale, the senior vice president now directly owns 3,573 shares of the company’s stock, valued at approximately $110,941.65. This represents a 24.32 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Ziad Nabulsi sold 1,725 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $30.42, for a total transaction of $52,474.50. Following the completion of the sale, 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 ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 10,469 shares of company stock worth $319,190. 30.10% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered shares of Fresh Del Monte Produce from a “buy” rating to a “hold” rating in a research note on Tuesday, March 25th.

Fresh Del Monte Produce Stock Performance

Shares of FDP stock opened at $30.57 on Monday. Fresh Del Monte Produce Inc. has a 12-month low of $21.23 and a 12-month high of $35.27. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.09 and a quick ratio of 1.04. The firm has a market capitalization of $1.47 billion, a price-to-earnings ratio of 92.64 and a beta of 0.36. The business has a 50 day simple moving average of $30.48 and a 200 day simple moving average of $31.33.

Fresh Del Monte Produce (NYSE:FDP) last released 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 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 previous year, the company posted $0.25 EPS. The company’s revenue for the quarter was up .5% compared to the same quarter last year.

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

Fresh Del Monte Produce Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Monday, March 10th were paid a dividend of $0.30 per share. This is a boost from Fresh Del Monte Produce’s previous quarterly dividend of $0.25. The ex-dividend date was Monday, March 10th. This represents a $1.20 annualized dividend and a yield of 3.93%. Fresh Del Monte Produce’s dividend payout ratio (DPR) is presently 40.40%.

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.