BNP Paribas Financial Markets decreased its position in shares of Fresh Del Monte Produce Inc. (NYSE:FDP - Free Report) by 64.0% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 6,390 shares of the company's stock after selling 11,378 shares during the quarter. BNP Paribas Financial Markets' holdings in Fresh Del Monte Produce were worth $212,000 at the end of the most recent quarter.
A number of other large investors also recently modified their holdings of the company. Rhumbline Advisers lifted its stake in shares of Fresh Del Monte Produce by 0.3% during the 4th quarter. Rhumbline Advisers now owns 104,348 shares of the company's stock valued at $3,465,000 after buying an additional 320 shares in the last quarter. Waterfront Wealth Inc. lifted its stake in Fresh Del Monte Produce by 2.4% in the 4th quarter. Waterfront Wealth Inc. now owns 22,592 shares of the company's stock worth $750,000 after purchasing an additional 526 shares in the last quarter. Bank of Montreal Can lifted its stake in Fresh Del Monte Produce by 7.4% in the 4th quarter. Bank of Montreal Can now owns 9,669 shares of the company's stock worth $321,000 after purchasing an additional 666 shares in the last quarter. HHM Wealth Advisors LLC lifted its stake in Fresh Del Monte Produce by 75.0% in the 4th 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, MetLife Investment Management LLC lifted its stake in Fresh Del Monte Produce by 4.0% in the 4th quarter. MetLife Investment Management LLC now owns 20,684 shares of the company's stock worth $687,000 after purchasing an additional 786 shares in the last quarter. Hedge funds and other institutional investors own 64.83% of the company's stock.
Insider Transactions at Fresh Del Monte Produce
In other news, SVP Marissa R. Tenazas sold 1,148 shares of the business's stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $31.05, for a total value of $35,645.40. Following the sale, the senior vice president now directly owns 3,573 shares in the company, valued at $110,941.65. The trade was a 24.32% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 31.60% of the company's stock.
Fresh Del Monte Produce Price Performance
FDP stock traded down $0.22 during mid-day trading on Tuesday, hitting $35.07. The company had a trading volume of 574,657 shares, compared to its average volume of 334,323. The company has a market capitalization of $1.68 billion, a price-to-earnings ratio of 106.28 and a beta of 0.36. Fresh Del Monte Produce Inc. has a 12-month low of $21.23 and a 12-month high of $35.68. 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 company has a 50-day moving average price of $32.81 and a 200 day moving average price of $32.13.
Fresh Del Monte Produce (NYSE:FDP - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The company reported $0.63 EPS for the quarter, topping the consensus estimate of $0.62 by $0.01. The business had revenue of $1.10 billion for the quarter, compared to analysts' expectations 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 quarterly revenue was down .9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.34 EPS.
Fresh Del Monte Produce announced that its board has authorized a share repurchase program on Monday, February 24th that allows the company to repurchase $150.00 million in outstanding shares. This repurchase authorization allows the company to repurchase up to 10.4% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company's leadership believes its stock is undervalued.
Fresh Del Monte Produce Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Wednesday, May 14th will be issued a $0.30 dividend. The ex-dividend date of this dividend is Wednesday, May 14th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.42%. Fresh Del Monte Produce's dividend payout ratio (DPR) is presently 39.22%.
Analyst Ratings Changes
Separately, Wall Street Zen cut shares of Fresh Del Monte Produce from a "buy" rating to a "hold" rating in a research note on Tuesday, March 25th.
Read Our Latest Stock Analysis on Fresh Del Monte Produce
Fresh Del Monte Produce Company Profile
(
Free Report)
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.
Featured Articles
Before you consider Fresh Del Monte Produce, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Fresh Del Monte Produce wasn't on the list.
While Fresh Del Monte Produce currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Learn the basics of options trading and how to use them to boost returns and manage risk with this free report from MarketBeat. Click the link below to get your free copy.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
