Ethic Inc. Invests $279,000 in Fresh Del Monte Produce Inc. (NYSE:FDP)

Ethic Inc. bought a new position in shares of Fresh Del Monte Produce Inc. (NYSE:FDP - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 8,391 shares of the company's stock, valued at approximately $279,000.

A number of other institutional investors have also made changes to their positions in the business. Barclays PLC boosted its holdings in shares of Fresh Del Monte Produce by 185.7% during the third quarter. Barclays PLC now owns 70,694 shares of the company's stock worth $2,087,000 after acquiring an additional 45,952 shares during the period. Empowered Funds LLC boosted its stake in Fresh Del Monte Produce by 5.1% in the 4th quarter. Empowered Funds LLC now owns 262,063 shares of the company's stock valued at $8,703,000 after purchasing an additional 12,723 shares during the period. Intech Investment Management LLC grew its stake in shares of Fresh Del Monte Produce by 253.1% in the fourth quarter. Intech Investment Management LLC now owns 44,846 shares of the company's stock valued at $1,489,000 after acquiring an additional 32,145 shares in the last quarter. Stephens Inc. AR acquired a new stake in Fresh Del Monte Produce in the 4th quarter worth about $467,000. Finally, Franklin Resources Inc. boosted its holdings in Fresh Del Monte Produce by 18.0% in the 3rd quarter. Franklin Resources Inc. now owns 36,710 shares of the company's stock valued at $1,066,000 after purchasing an additional 5,587 shares during the period. 64.83% of the stock is owned by institutional investors and hedge funds.

Fresh Del Monte Produce Price Performance

Shares of FDP traded down $0.32 during trading hours on Wednesday, hitting $33.69. 381,959 shares of the company were exchanged, compared to its average volume of 328,138. The company has a quick ratio of 1.04, a current ratio of 2.09 and a debt-to-equity ratio of 0.14. Fresh Del Monte Produce Inc. has a fifty-two week low of $21.23 and a fifty-two week high of $35.27. The company has a market cap of $1.61 billion, a price-to-earnings ratio of 102.09 and a beta of 0.36. The firm's fifty day moving average is $31.86 and its 200 day moving average is $32.07.

Fresh Del Monte Produce (NYSE:FDP - Get Free Report) last announced its quarterly earnings data 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 firm had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.12 billion. Fresh Del Monte Produce had a net margin of 0.36% and a return on equity of 5.91%. The business's revenue for the quarter was down .9% on a year-over-year basis. During the same period in the prior year, the company posted $0.34 earnings per share.

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

Fresh Del Monte Produce Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Wednesday, May 14th will be given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 3.56%. The ex-dividend date of this dividend is Wednesday, May 14th. Fresh Del Monte Produce's dividend payout ratio is presently 39.22%.

Insider Buying and Selling at Fresh Del Monte Produce

In other news, SVP Marissa R. Tenazas sold 1,148 shares of the company's stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $31.05, for a total transaction of $35,645.40. Following the completion of the transaction, the senior vice president now directly owns 3,573 shares in the company, valued at approximately $110,941.65. This represents a 24.32% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Ziad Nabulsi sold 1,725 shares of the firm'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 sale, the senior vice president now directly owns 11,498 shares in the company, 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. Insiders have sold a total of 10,469 shares of company stock worth $319,190 over the last 90 days. Insiders own 31.60% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered Fresh Del Monte Produce from a "buy" rating to a "hold" rating in a research note 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.