Trexquant Investment LP Sells 53,591 Shares of Fresh Del Monte Produce Inc. (NYSE:FDP)

Trexquant Investment LP cut its position in Fresh Del Monte Produce Inc. (NYSE:FDP) by 84.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,719 shares of the company’s stock after selling 53,591 shares during the quarter. Trexquant Investment LP’s holdings in Fresh Del Monte Produce were worth $323,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Sherman Asset Management Inc. bought a new stake in shares of Fresh Del Monte Produce in the fourth quarter valued at about $54,000. Signaturefd LLC boosted its holdings in Fresh Del Monte Produce by 244.3% in the 4th quarter. Signaturefd LLC now owns 1,663 shares of the company’s stock valued at $55,000 after purchasing an additional 1,180 shares during the period. HHM Wealth Advisors LLC grew its position in shares of Fresh Del Monte Produce by 75.0% during the 4th quarter. HHM Wealth Advisors LLC now owns 1,750 shares of the company’s stock worth $58,000 after purchasing an additional 750 shares in the last quarter. KBC Group NV increased its holdings 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 purchasing an additional 1,005 shares during the period. Finally, Meeder Asset Management Inc. acquired a new stake in shares of Fresh Del Monte Produce in the fourth quarter valued at approximately $174,000. 64.83% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Insiders Place Their Bets

In other news, SVP Ziad Nabulsi sold 1,725 shares of the company’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $30.42, for a total transaction of $52,474.50. Following the completion of the transaction, the senior vice president now directly owns 11,498 shares in the company, valued at approximately $349,769.16. This represents a 13.05 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Monica Vicente sold 2,532 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 $77,023.44. Following the completion of the transaction, the chief financial officer now 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 10,469 shares of company stock valued at $319,190. 30.10% of the stock is currently owned by corporate insiders.

Fresh Del Monte Produce Stock Up 1.8 %

FDP stock opened at $30.97 on Monday. Fresh Del Monte Produce Inc. has a 52 week low of $21.23 and a 52 week high of $35.27. The business has a 50-day simple moving average of $30.36 and a 200 day simple moving average of $31.36. The company has a quick ratio of 1.04, a current ratio of 2.09 and a debt-to-equity ratio of 0.14. The company has a market cap of $1.48 billion, a PE ratio of 93.85 and a beta of 0.36.

Fresh Del Monte Produce (NYSE:FDP) last issued its quarterly earnings results on Monday, February 24th. The company reported $0.26 earnings per share for the quarter, missing analysts’ consensus estimates 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 return on equity of 5.91% and a net margin of 0.36%. The business’s revenue was up .5% on a year-over-year basis. During the same period last year, the company posted $0.25 EPS.

Fresh Del Monte Produce Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Monday, March 10th were issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.87%. The ex-dividend date was Monday, March 10th. This is an increase from Fresh Del Monte Produce’s previous quarterly dividend of $0.25. Fresh Del Monte Produce’s dividend payout ratio (DPR) is currently 40.40%.

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

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.