D. E. Shaw & Co. Inc. Reduces Stock Position in Fresh Del Monte Produce Inc. (NYSE:FDP)

D. E. Shaw & Co. Inc. cut its holdings in shares of Fresh Del Monte Produce Inc. (NYSE:FDP - Free Report) by 19.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 58,565 shares of the company's stock after selling 14,108 shares during the period. D. E. Shaw & Co. Inc. owned approximately 0.12% of Fresh Del Monte Produce worth $1,945,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in FDP. Barclays PLC raised its holdings in shares of Fresh Del Monte Produce by 185.7% in the third quarter. Barclays PLC now owns 70,694 shares of the company's stock valued at $2,087,000 after purchasing an additional 45,952 shares during the last quarter. Empowered Funds LLC lifted its stake in shares of Fresh Del Monte Produce by 5.1% during the 4th quarter. Empowered Funds LLC now owns 262,063 shares of the company's stock valued at $8,703,000 after buying an additional 12,723 shares in the last quarter. Intech Investment Management LLC boosted its holdings 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 worth $1,489,000 after acquiring an additional 32,145 shares during the period. Stephens Inc. AR bought a new position in Fresh Del Monte Produce in the 4th quarter worth about $467,000. Finally, Outfitter Financial LLC purchased a new position in Fresh Del Monte Produce during the fourth quarter valued at approximately $733,000. Institutional investors and hedge funds own 64.83% of the company's stock.

Fresh Del Monte Produce Price Performance

Fresh Del Monte Produce stock traded up $0.31 during mid-day trading on Tuesday, hitting $34.74. 452,915 shares of the company traded hands, compared to its average volume of 330,582. 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 Inc. has a one year low of $21.23 and a one year high of $35.27. The stock has a market cap of $1.67 billion, a price-to-earnings ratio of 105.29 and a beta of 0.36. The stock has a fifty day moving average price of $32.27 and a 200-day moving average price of $32.09.

Fresh Del Monte Produce (NYSE:FDP - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The company reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.01. The firm 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% on a year-over-year basis. During the same quarter last year, the company posted $0.34 EPS.

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

Fresh Del Monte Produce Announces Dividend

The company also recently disclosed 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. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.45%. The ex-dividend date of this dividend is Wednesday, May 14th. Fresh Del Monte Produce's payout ratio is currently 39.22%.

Insider Transactions at Fresh Del Monte Produce

In related news, SVP Ziad Nabulsi sold 1,725 shares of Fresh Del Monte Produce 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. This trade represents a 13.05% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Monica Vicente sold 2,532 shares of the company's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $30.42, for a total transaction of $77,023.44. Following the sale, the chief financial officer now owns 10,808 shares of the company's stock, valued at approximately $328,779.36. The trade was a 18.98% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 10,469 shares of company stock worth $319,190. 31.60% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen lowered Fresh Del Monte Produce from a "buy" rating to a "hold" rating in a research note on Tuesday, March 25th.

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.