Victory Capital Management Inc. Grows Stock Holdings in Fresh Del Monte Produce Inc. (NYSE:FDP)

Victory Capital Management Inc. raised its position in shares of Fresh Del Monte Produce Inc. (NYSE:FDP) by 9.3% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,647 shares of the company’s stock after purchasing an additional 1,076 shares during the period. Victory Capital Management Inc.’s holdings in Fresh Del Monte Produce were worth $420,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Sherman Asset Management Inc. purchased a new stake in Fresh Del Monte Produce during the fourth quarter valued at about $54,000. HHM Wealth Advisors LLC raised its position in 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 valued at $58,000 after purchasing an additional 750 shares in the last quarter. KBC Group NV raised its position in Fresh Del Monte Produce by 65.0% during the fourth quarter. KBC Group NV now owns 2,550 shares of the company’s stock valued at $85,000 after purchasing an additional 1,005 shares in the last quarter. GAMMA Investing LLC raised its position in Fresh Del Monte Produce by 106.5% during the fourth quarter. GAMMA Investing LLC now owns 7,482 shares of the company’s stock valued at $248,000 after purchasing an additional 3,858 shares in the last quarter. Finally, ClearAlpha Technologies LP purchased a new position in shares of Fresh Del Monte Produce in the third quarter worth about $252,000. Hedge funds and other institutional investors own 64.83% of the company’s stock.

Fresh Del Monte Produce Stock Down 1.1 %

FDP opened at $29.61 on Friday. The company has a market cap of $1.42 billion, a P/E ratio of 89.72 and a beta of 0.33. The business’s 50-day moving average price is $30.68 and its 200-day moving average price is $31.22. The company has a current ratio of 2.09, a quick ratio of 1.04 and a debt-to-equity ratio of 0.14. Fresh Del Monte Produce Inc. has a 12 month low of $21.23 and a 12 month high of $35.27.

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 company had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $1.14 billion. Fresh Del Monte Produce had a return on equity of 5.91% and a net margin of 0.36%. The firm’s quarterly revenue was up .5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.25 EPS.

Fresh Del Monte Produce Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Monday, March 10th will be paid a $0.30 dividend. The ex-dividend date is Monday, March 10th. This is a boost from Fresh Del Monte Produce’s previous quarterly dividend of $0.25. This represents a $1.20 annualized dividend and a dividend yield of 4.05%. Fresh Del Monte Produce’s dividend payout ratio (DPR) is presently 40.40%.

Fresh Del Monte Produce announced that its board has authorized a stock buyback plan on Monday, February 24th that permits the company to buyback $150.00 million in outstanding shares. This buyback authorization permits the company to repurchase up to 10.4% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board believes its stock is undervalued.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded Fresh Del Monte Produce from a “hold” rating to a “buy” rating in a report on Monday, March 17th.

Insider Buying and Selling

In related news, CFO Monica Vicente sold 2,532 shares of the firm’s stock in a transaction dated Monday, March 3rd. The stock was 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 of the company’s stock, valued at $328,779.36. This trade represents a 18.98 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Mohammed Abbas sold 5,064 shares of the firm’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $30.42, for a total value of $154,046.88. Following the completion of the sale, the chief operating officer now directly 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. Insiders have sold 9,321 shares of company stock valued at $283,545 over the last ninety days. 30.10% of the stock is owned by insiders.

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.