Millennium Management LLC Sells 221,878 Shares of Fresh Del Monte Produce Inc. (NYSE:FDP)

Millennium Management LLC trimmed its position in Fresh Del Monte Produce Inc. (NYSE:FDP - Free Report) by 86.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 34,140 shares of the company's stock after selling 221,878 shares during the period. Millennium Management LLC owned approximately 0.07% of Fresh Del Monte Produce worth $1,134,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Parvin Asset Management LLC acquired a new position in Fresh Del Monte Produce during the fourth quarter valued at approximately $30,000. Sterling Capital Management LLC raised its stake in shares of Fresh Del Monte Produce by 795.0% during the 4th quarter. Sterling Capital Management LLC now owns 1,083 shares of the company's stock worth $36,000 after purchasing an additional 962 shares in the last quarter. Sherman Asset Management Inc. bought a new stake in shares of Fresh Del Monte Produce during the 4th quarter worth approximately $54,000. Signaturefd LLC raised its stake in shares of Fresh Del Monte Produce by 244.3% during the 4th quarter. Signaturefd LLC now owns 1,663 shares of the company's stock worth $55,000 after purchasing an additional 1,180 shares in the last quarter. Finally, KBC Group NV raised its stake in shares of Fresh Del Monte Produce by 65.0% during the 4th quarter. KBC Group NV now owns 2,550 shares of the company's stock worth $85,000 after purchasing an additional 1,005 shares in the last quarter. Institutional investors own 64.83% of the company's stock.

Fresh Del Monte Produce Stock Performance

Shares of FDP stock traded down $0.33 on Thursday, reaching $32.80. The stock had a trading volume of 384,790 shares, compared to its average volume of 334,253. 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 firm's 50-day moving average is $32.86 and its two-hundred day moving average is $32.13. The firm has a market capitalization of $1.57 billion, a price-to-earnings ratio of 99.39 and a beta of 0.41. Fresh Del Monte Produce Inc. has a 12 month low of $21.23 and a 12 month high of $35.69.

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, beating analysts' consensus estimates of $0.62 by $0.01. The company 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%. Fresh Del Monte Produce's quarterly revenue was down .9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.34 EPS.

Fresh Del Monte Produce Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Wednesday, May 14th will be paid a $0.30 dividend. The ex-dividend date is Wednesday, May 14th. This represents a $1.20 annualized dividend and a yield of 3.66%. Fresh Del Monte Produce's dividend payout ratio is 39.22%.

Fresh Del Monte Produce declared that its Board of Directors has authorized a share buyback program on Monday, February 24th that permits the company to buyback $150.00 million in outstanding shares. This buyback authorization permits the company to buy up to 10.4% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

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.

Insider Activity at Fresh Del Monte Produce

In other news, SVP Marissa R. Tenazas sold 1,148 shares of the 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 transaction, the senior vice president now directly owns 3,573 shares of the company's stock, valued at $110,941.65. This represents a 24.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 30.10% of the stock is owned by company insiders.

Fresh Del Monte Produce Company 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.