28,554 Shares in Fresh Del Monte Produce Inc. (NYSE:FDP) Acquired by CoreCommodity Management LLC

CoreCommodity Management LLC acquired a new stake in Fresh Del Monte Produce Inc. (NYSE:FDP - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 28,554 shares of the company's stock, valued at approximately $948,000. CoreCommodity Management LLC owned about 0.06% of Fresh Del Monte Produce as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently added to or reduced their stakes in the business. Parvin Asset Management LLC purchased a new position in shares of Fresh Del Monte Produce during the fourth quarter worth $30,000. Sterling Capital Management LLC raised its stake in Fresh Del Monte Produce by 795.0% in the fourth quarter. Sterling Capital Management LLC now owns 1,083 shares of the company's stock valued at $36,000 after buying an additional 962 shares in the last quarter. Sherman Asset Management Inc. purchased a new stake in shares of Fresh Del Monte Produce in the 4th quarter valued at about $54,000. Signaturefd LLC lifted its holdings in shares of Fresh Del Monte Produce by 244.3% in the 4th quarter. Signaturefd LLC now owns 1,663 shares of the company's stock valued at $55,000 after purchasing an additional 1,180 shares during the last quarter. Finally, HHM Wealth Advisors LLC grew 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 acquiring an additional 750 shares during the last quarter. 64.83% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded Fresh Del Monte Produce from a "buy" rating to a "hold" rating in a report on Tuesday, March 25th.

Fresh Del Monte Produce Price Performance

Fresh Del Monte Produce stock traded down $0.17 during midday trading on Monday, reaching $32.73. 123,732 shares of the company were exchanged, compared to its average volume of 322,673. The company has a market capitalization of $1.57 billion, a price-to-earnings ratio of 99.22 and a beta of 0.36. The firm's 50-day simple moving average is $31.49 and its 200-day simple moving average is $31.94. Fresh Del Monte Produce Inc. has a 1 year low of $21.23 and a 1 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.

Fresh Del Monte Produce (NYSE:FDP - Get Free Report) last issued its earnings results on Wednesday, April 30th. The company reported $0.63 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.62 by $0.01. The business had revenue of $1.10 billion during the quarter, compared to analysts' expectations of $1.12 billion. Fresh Del Monte Produce had a return on equity of 5.91% and a net margin of 0.36%. The company's revenue for the quarter was down .9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.34 EPS.

Fresh Del Monte Produce Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Wednesday, May 14th will be given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 3.67%. The ex-dividend date of this dividend is Wednesday, May 14th. Fresh Del Monte Produce's dividend payout ratio is currently 39.22%.

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

Insider Activity at Fresh Del Monte Produce

In other news, SVP Ziad Nabulsi sold 1,725 shares of the stock in a transaction on Monday, March 3rd. The stock was 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 owns 11,498 shares of the company's stock, valued at approximately $349,769.16. This represents a 13.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Marissa R. Tenazas sold 1,148 shares of the stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $31.05, for a total value of $35,645.40. Following the completion of the transaction, the senior vice president now directly owns 3,573 shares of the company's stock, valued at approximately $110,941.65. The trade was a 24.32% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 10,469 shares of company stock valued at $319,190. Corporate insiders own 31.60% 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.