Alliancebernstein L.P. Sells 900 Shares of Fresh Del Monte Produce Inc. (NYSE:FDP)

Alliancebernstein L.P. reduced its holdings in shares of Fresh Del Monte Produce Inc. (NYSE:FDP) by 2.5% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 35,092 shares of the company’s stock after selling 900 shares during the quarter. Alliancebernstein L.P.’s holdings in Fresh Del Monte Produce were worth $1,165,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Pacer Advisors Inc. bought a new position in shares of Fresh Del Monte Produce in the fourth quarter valued at approximately $42,522,000. Advisors Preferred LLC bought a new position in Fresh Del Monte Produce in the fourth quarter valued at $7,459,000. American Century Companies Inc. lifted its stake in Fresh Del Monte Produce by 22.0% during the fourth quarter. American Century Companies Inc. now owns 950,108 shares of the company’s stock worth $31,553,000 after purchasing an additional 171,574 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Fresh Del Monte Produce by 2.8% during the 4th quarter. Vanguard Group Inc. now owns 4,809,451 shares of the company’s stock valued at $159,722,000 after purchasing an additional 133,122 shares during the last quarter. Finally, Ellsworth Advisors LLC purchased a new position in shares of Fresh Del Monte Produce during the 4th quarter valued at about $4,298,000. Institutional investors own 64.83% of the company’s stock.

Insider Buying and Selling at Fresh Del Monte Produce

In other Fresh Del Monte Produce news, 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 transaction of $52,474.50. Following the sale, the senior vice president now directly owns 11,498 shares in the company, valued at approximately $349,769.16. This trade represents a 13.05 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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 sale, the chief financial officer now directly owns 10,808 shares in the company, valued at $328,779.36. This trade represents 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 company insiders.

Fresh Del Monte Produce Stock Performance

Shares of FDP stock opened at $32.27 on Friday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.04 and a current ratio of 2.09. Fresh Del Monte Produce Inc. has a fifty-two week low of $21.23 and a fifty-two week high of $35.27. The company has a market capitalization of $1.55 billion, a P/E ratio of 97.79 and a beta of 0.36. The stock has a 50 day moving average price of $30.45 and a two-hundred day moving average price of $31.42.

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 analysts’ consensus estimates 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 analysts’ expectations of $1.14 billion. During the same quarter in the prior year, the firm earned $0.25 EPS. The firm’s revenue for the quarter was up .5% on a year-over-year basis.

Fresh Del Monte Produce declared that its Board of Directors has authorized a share buyback plan on Monday, February 24th that authorizes the company to buyback $150.00 million in outstanding shares. This buyback authorization authorizes the company to buy up to 10.4% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its shares are undervalued.

Fresh Del Monte Produce Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Monday, March 10th were given a $0.30 dividend. The ex-dividend date of this dividend was Monday, March 10th. This represents a $1.20 annualized dividend and a dividend yield of 3.72%. This is a positive change from Fresh Del Monte Produce’s previous quarterly dividend of $0.25. Fresh Del Monte Produce’s dividend payout ratio is currently 40.40%.

Analyst Ratings Changes

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

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.