Barclays PLC Sells 3,921 Shares of Fresh Del Monte Produce Inc. (NYSE:FDP)

Barclays PLC cut its holdings in shares of Fresh Del Monte Produce Inc. (NYSE:FDP) by 5.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 66,773 shares of the company’s stock after selling 3,921 shares during the quarter. Barclays PLC owned about 0.14% of Fresh Del Monte Produce worth $2,217,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. JPMorgan Chase & Co. boosted its holdings in Fresh Del Monte Produce by 25.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 437,998 shares of the company’s stock valued at $12,938,000 after purchasing an additional 88,900 shares during the period. Empowered Funds LLC increased its stake in Fresh Del Monte Produce by 5.1% during the fourth quarter. Empowered Funds LLC now owns 262,063 shares of the company’s stock valued at $8,703,000 after acquiring an additional 12,723 shares during the period. Intech Investment Management LLC raised its holdings in Fresh Del Monte Produce by 253.1% in the 4th quarter. Intech Investment Management LLC now owns 44,846 shares of the company’s stock valued at $1,489,000 after acquiring an additional 32,145 shares in the last quarter. CWA Asset Management Group LLC bought a new stake in shares of Fresh Del Monte Produce in the 4th quarter worth approximately $625,000. Finally, Stephens Inc. AR acquired a new stake in shares of Fresh Del Monte Produce during the 4th quarter worth approximately $467,000. 64.83% of the stock is owned by institutional investors.

Fresh Del Monte Produce Stock Down 1.0 %

Shares of FDP opened at $33.67 on Friday. Fresh Del Monte Produce Inc. has a 12 month low of $21.23 and a 12 month high of $35.27. The stock has a market cap of $1.61 billion, a price-to-earnings ratio of 102.03 and a beta of 0.36. The company has a 50-day moving average price of $31.12 and a two-hundred day moving average price of $31.74. 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 (NYSE:FDP) last issued its quarterly earnings data on Wednesday, April 30th. The company reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.01. Fresh Del Monte Produce had a return on equity of 5.91% and a net margin of 0.36%. The firm had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.12 billion. During the same quarter in the previous year, the company posted $0.34 EPS. The business’s revenue for the quarter was down .9% compared to the same quarter last year.

Fresh Del Monte Produce Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Wednesday, May 14th will be given a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 3.56%. The ex-dividend date of this dividend is Wednesday, May 14th. Fresh Del Monte Produce’s payout ratio is presently 40.40%.

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

Analyst Ratings Changes

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

Insiders Place Their Bets

In other Fresh Del Monte Produce news, SVP Ziad Nabulsi sold 1,725 shares of the company’s 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 transaction, the senior vice president now owns 11,498 shares of the company’s stock, valued at approximately $349,769.16. This represents a 13.05 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Mohammed Abbas sold 5,064 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 $154,046.88. Following the completion of the transaction, the chief operating officer now owns 45,560 shares in the company, valued at $1,385,935.20. The trade was a 10.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 10,469 shares of company stock valued at $319,190. Insiders own 30.10% of the company’s stock.

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.