JPMorgan Chase & Co. Has $13.54 Million Position in Fresh Del Monte Produce Inc. (NYSE:FDP)

JPMorgan Chase & Co. cut its position in Fresh Del Monte Produce Inc. (NYSE:FDP) by 6.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 407,673 shares of the company’s stock after selling 30,325 shares during the quarter. JPMorgan Chase & Co.’s holdings in Fresh Del Monte Produce were worth $13,539,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Pacer Advisors Inc. bought a new position in Fresh Del Monte Produce during the 4th quarter worth $42,522,000. Advisors Preferred LLC acquired a new stake in shares of Fresh Del Monte Produce in the fourth quarter valued at about $7,459,000. American Century Companies Inc. increased its stake in shares of Fresh Del Monte Produce by 22.0% in the fourth quarter. American Century Companies Inc. now owns 950,108 shares of the company’s stock valued at $31,553,000 after buying an additional 171,574 shares during the period. Vanguard Group Inc. raised its position in shares of Fresh Del Monte Produce by 2.8% during the fourth quarter. Vanguard Group Inc. now owns 4,809,451 shares of the company’s stock worth $159,722,000 after acquiring an additional 133,122 shares during the last quarter. Finally, Ellsworth Advisors LLC acquired a new position in shares of Fresh Del Monte Produce in the fourth quarter worth approximately $4,298,000. 64.83% of the stock is currently owned by institutional investors.

Insider Transactions at Fresh Del Monte Produce

In other news, SVP Marissa R. Tenazas sold 1,148 shares of the firm’s stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $31.05, for a total transaction 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 $110,941.65. This trade represents a 24.32 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Mohammed Abbas sold 5,064 shares of the firm’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 $154,046.88. Following the sale, the chief operating officer now owns 45,560 shares of the company’s stock, valued at approximately $1,385,935.20. The trade was a 10.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 10,469 shares of company stock worth $319,190 in the last quarter. 30.10% of the stock is currently owned by corporate insiders.

Fresh Del Monte Produce Stock Performance

NYSE:FDP opened at $30.97 on Friday. The company has a quick ratio of 1.04, a current ratio of 2.09 and a debt-to-equity ratio of 0.14. Fresh Del Monte Produce Inc. has a twelve month low of $21.23 and a twelve month high of $35.27. The company has a fifty day moving average of $30.36 and a 200-day moving average of $31.35. The firm has a market capitalization of $1.48 billion, a P/E ratio of 93.85 and a beta of 0.36.

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

Fresh Del Monte Produce declared that its board has approved a stock buyback program on Monday, February 24th that allows the company to buyback $150.00 million in shares. This buyback authorization allows the company to purchase up to 10.4% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.

Fresh Del Monte Produce Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Monday, March 10th were issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 3.87%. This is an increase from Fresh Del Monte Produce’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Monday, March 10th. Fresh Del Monte Produce’s 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 research report on Tuesday, March 25th.

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.