Thrivent Financial for Lutherans Sells 411 Shares of Fresh Del Monte Produce Inc. (NYSE:FDP)

Thrivent Financial for Lutherans reduced its position in Fresh Del Monte Produce Inc. (NYSE:FDP) by 1.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 25,940 shares of the company’s stock after selling 411 shares during the period. Thrivent Financial for Lutherans owned 0.05% of Fresh Del Monte Produce worth $861,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in FDP. Intech Investment Management LLC bought a new position in shares of Fresh Del Monte Produce in the 3rd quarter valued at about $375,000. Charles Schwab Investment Management Inc. raised its position in Fresh Del Monte Produce by 5.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,060,576 shares of the company’s stock valued at $31,329,000 after purchasing an additional 59,521 shares during the period. D.A. Davidson & CO. bought a new stake in shares of Fresh Del Monte Produce in the 3rd quarter valued at approximately $583,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Fresh Del Monte Produce by 25.2% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 165,098 shares of the company’s stock worth $4,877,000 after purchasing an additional 33,276 shares during the period. Finally, Walleye Capital LLC increased its position in shares of Fresh Del Monte Produce by 190.7% during the 3rd quarter. Walleye Capital LLC now owns 28,159 shares of the company’s stock valued at $832,000 after purchasing an additional 18,471 shares during the last quarter. 64.83% of the stock is owned by institutional investors.

Fresh Del Monte Produce Stock Performance

Fresh Del Monte Produce stock opened at $31.06 on Wednesday. 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 $1.49 billion, a PE ratio of 94.12 and a beta of 0.33. The company has a 50 day moving average price of $30.48 and a 200-day moving average price of $31.29. Fresh Del Monte Produce Inc. has a fifty-two week low of $21.23 and a fifty-two week high of $35.27.

Fresh Del Monte Produce (NYSE:FDP) last announced its quarterly earnings results on Monday, February 24th. The company reported $0.26 EPS for the quarter, missing the consensus estimate 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 firm 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 business posted $0.25 EPS. The business’s quarterly revenue was up .5% on a year-over-year basis.

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

Fresh Del Monte Produce Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Monday, March 10th were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 3.86%. This is a positive change from Fresh Del Monte Produce’s previous quarterly dividend of $0.25. The ex-dividend date was Monday, March 10th. Fresh Del Monte Produce’s dividend payout ratio is presently 40.40%.

Insider Activity

In other news, 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 sale, the chief operating officer now owns 45,560 shares in the company, valued at $1,385,935.20. This represents a 10.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Ziad Nabulsi sold 1,725 shares of the business’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $30.42, for a total value of $52,474.50. Following the completion of the transaction, the senior vice president now directly owns 11,498 shares of the company’s stock, valued at approximately $349,769.16. This trade represents a 13.05 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 9,321 shares of company stock worth $283,545. Corporate insiders own 30.10% of the company’s stock.

Wall Street Analyst Weigh In

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

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.