Principal Financial Group Inc. Raises Stock Position in Fresh Del Monte Produce Inc. (NYSE:FDP)

Principal Financial Group Inc. boosted its holdings in Fresh Del Monte Produce Inc. (NYSE:FDP) by 2.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 162,751 shares of the company’s stock after acquiring an additional 4,542 shares during the period. Principal Financial Group Inc. owned 0.34% of Fresh Del Monte Produce worth $5,405,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also made changes to their positions in the stock. HHM Wealth Advisors LLC lifted its position 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 worth $58,000 after purchasing an additional 750 shares in the last quarter. 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 purchasing an additional 1,005 shares in the last quarter. Royce & Associates LP purchased a new stake in Fresh Del Monte Produce in the 3rd quarter worth $201,000. GAMMA Investing LLC increased its position in Fresh Del Monte Produce by 106.5% in the fourth quarter. GAMMA Investing LLC now owns 7,482 shares of the company’s stock worth $248,000 after purchasing an additional 3,858 shares during the last quarter. Finally, ClearAlpha Technologies LP purchased a new position in shares of Fresh Del Monte Produce in the 3rd quarter worth approximately $252,000. Institutional investors and hedge funds own 64.83% of the company’s stock.

Fresh Del Monte Produce Stock Performance

Shares of Fresh Del Monte Produce stock opened at $30.09 on Tuesday. Fresh Del Monte Produce Inc. has a one year low of $21.23 and a one year high of $35.27. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.04 and a current ratio of 2.09. The company has a market capitalization of $1.44 billion, a PE ratio of 91.18 and a beta of 0.39. The company has a 50-day simple moving average of $31.31 and a two-hundred day simple moving average of $31.08.

Fresh Del Monte Produce (NYSE:FDP) last posted its earnings results on Monday, February 24th. The company reported $0.26 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 analyst estimates of $1.14 billion. During the same quarter last year, the business earned $0.25 earnings per share. Fresh Del Monte Produce’s revenue was up .5% on a year-over-year basis.

Fresh Del Monte Produce declared that its board has initiated a share buyback program 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 shares through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

Fresh Del Monte Produce Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Monday, March 10th will be issued a $0.30 dividend. The ex-dividend date of this dividend is Monday, March 10th. This is a positive change from Fresh Del Monte Produce’s previous quarterly dividend of $0.25. This represents a $1.20 dividend on an annualized basis and a yield of 3.99%. Fresh Del Monte Produce’s dividend payout ratio (DPR) is 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.