Amundi Grows Stock Holdings in Fresh Del Monte Produce Inc. (NYSE:FDP)

Amundi boosted its position in Fresh Del Monte Produce Inc. (NYSE:FDP) by 168.3% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 16,216 shares of the company’s stock after acquiring an additional 10,172 shares during the period. Amundi’s holdings in Fresh Del Monte Produce were worth $504,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Pacer Advisors Inc. purchased a new stake in shares of Fresh Del Monte Produce during the 4th quarter valued at $42,522,000. Advisors Preferred LLC purchased a new stake in shares of Fresh Del Monte Produce during the 4th quarter valued at $7,459,000. Ellsworth Advisors LLC purchased a new stake in shares of Fresh Del Monte Produce during the 4th quarter valued at $4,298,000. Dean Investment Associates LLC grew its stake in shares of Fresh Del Monte Produce by 109.2% during the 3rd quarter. Dean Investment Associates LLC now owns 177,101 shares of the company’s stock valued at $5,232,000 after buying an additional 92,438 shares during the period. Finally, JPMorgan Chase & Co. grew its stake in shares of Fresh Del Monte Produce by 25.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 437,998 shares of the company’s stock valued at $12,938,000 after buying an additional 88,900 shares during the period. 64.83% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, StockNews.com raised shares of Fresh Del Monte Produce from a “hold” rating to a “buy” rating in a research note on Monday.

Insiders Place Their Bets

In other Fresh Del Monte Produce news, SVP Ziad Nabulsi sold 1,725 shares of the business’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $30.42, for a total value of $52,474.50. Following the transaction, the senior vice president now owns 11,498 shares in the company, valued at $349,769.16. The trade was a 13.05 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Monica Vicente sold 2,532 shares of the business’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 $77,023.44. Following the completion of the transaction, the chief financial officer now owns 10,808 shares in the company, valued at $328,779.36. This represents a 18.98 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 9,321 shares of company stock worth $283,545 in the last quarter. 30.10% of the stock is owned by corporate insiders.

Fresh Del Monte Produce Stock Down 0.8 %

Shares of NYSE FDP opened at $29.96 on Friday. The company has a quick ratio of 1.04, a current ratio of 2.09 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $1.44 billion, a PE ratio of 90.80 and a beta of 0.33. The firm has a fifty day moving average of $30.69 and a 200-day moving average of $31.20. Fresh Del Monte Produce Inc. has a 52-week low of $21.23 and a 52-week high of $35.27.

Fresh Del Monte Produce (NYSE:FDP) last posted its earnings results on Monday, February 24th. The company reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.42 by ($0.16). The business had revenue of $1.01 billion for the quarter, compared to analyst estimates of $1.14 billion. Fresh Del Monte Produce had a net margin of 0.36% and a return on equity of 5.91%. The business’s revenue was up .5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.25 EPS.

Fresh Del Monte Produce Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Monday, March 10th will be issued a $0.30 dividend. The ex-dividend date is Monday, March 10th. This represents a $1.20 dividend on an annualized basis and a yield of 4.01%. This is a positive change from Fresh Del Monte Produce’s previous quarterly dividend of $0.25. Fresh Del Monte Produce’s payout ratio is currently 40.40%.

Fresh Del Monte Produce announced that its board has authorized a stock buyback program on Monday, February 24th that authorizes the company to repurchase $150.00 million in shares. This repurchase authorization authorizes the company to reacquire up to 10.4% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its shares are undervalued.

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.