Dean Investment Associates LLC Reduces Position in Fresh Del Monte Produce Inc. (NYSE:FDP)

Dean Investment Associates LLC cut its position in shares of Fresh Del Monte Produce Inc. (NYSE:FDP - Free Report) by 69.3% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 54,313 shares of the company's stock after selling 122,788 shares during the quarter. Dean Investment Associates LLC owned 0.11% of Fresh Del Monte Produce worth $1,804,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Sterling Capital Management LLC grew its stake in Fresh Del Monte Produce by 795.0% during the fourth quarter. Sterling Capital Management LLC now owns 1,083 shares of the company's stock worth $36,000 after buying an additional 962 shares during the period. Sherman Asset Management Inc. bought a new stake in shares of Fresh Del Monte Produce in the 4th quarter worth $54,000. Signaturefd LLC lifted its holdings in shares of Fresh Del Monte Produce by 244.3% during the fourth 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. HHM Wealth Advisors LLC lifted its position in shares of Fresh Del Monte Produce by 75.0% in 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. Finally, KBC Group NV grew its position in Fresh Del Monte Produce by 65.0% in the fourth quarter. KBC Group NV now owns 2,550 shares of the company's stock worth $85,000 after acquiring an additional 1,005 shares in the last quarter. Hedge funds and other institutional investors own 64.83% of the company's stock.

Analyst Upgrades and Downgrades

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 Stock Up 1.0 %

Shares of Fresh Del Monte Produce stock traded up $0.33 on Wednesday, hitting $34.11. The company had a trading volume of 165,940 shares, compared to its average volume of 309,793. The firm has a market capitalization of $1.64 billion, a P/E ratio of 103.37 and a beta of 0.36. Fresh Del Monte Produce Inc. has a twelve month low of $21.23 and a twelve month high of $35.27. The stock has a 50-day moving average of $30.56 and a 200-day moving average of $31.50. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.09 and a quick ratio of 1.04.

Fresh Del Monte Produce (NYSE:FDP - Get Free Report) last posted its quarterly 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 return on equity of 5.91% and a net margin of 0.36%. The business had revenue of $1.01 billion for the quarter, compared to analyst estimates of $1.14 billion. During the same period last year, the firm posted $0.25 EPS. Fresh Del Monte Produce's quarterly revenue was up .5% on a year-over-year basis.

Fresh Del Monte Produce Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Monday, March 10th were paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 3.52%. This is a boost 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 payout ratio is presently 40.40%.

Fresh Del Monte Produce declared that its board has initiated a share buyback plan on Monday, February 24th that allows the company to buyback $150.00 million in outstanding shares. This buyback authorization allows the company to purchase up to 10.4% of its stock through open market purchases. Stock buyback plans are typically an indication that the company's board believes its shares are undervalued.

Insider Activity at Fresh Del Monte Produce

In other news, SVP Marissa R. Tenazas sold 1,148 shares of the business's stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $31.05, for a total value of $35,645.40. Following the completion of the sale, the senior vice president now directly owns 3,573 shares in the company, valued at approximately $110,941.65. The trade was a 24.32 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Ziad Nabulsi sold 1,725 shares of the company's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $30.42, for a total transaction of $52,474.50. Following the sale, the senior vice president now owns 11,498 shares of the company's stock, valued at $349,769.16. This represents a 13.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 10,469 shares of company stock worth $319,190. Company insiders own 30.10% 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.