Fresh Del Monte Produce Inc. (NYSE:FDP) Shares Sold by Millennium Management LLC

Millennium Management LLC trimmed its holdings in shares of Fresh Del Monte Produce Inc. (NYSE:FDP - Free Report) by 86.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 34,140 shares of the company's stock after selling 221,878 shares during the period. Millennium Management LLC owned 0.07% of Fresh Del Monte Produce worth $1,134,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of FDP. Barclays PLC increased its holdings in shares of Fresh Del Monte Produce by 185.7% in the 3rd 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. Deutsche Bank AG increased its holdings in shares of Fresh Del Monte Produce by 44.9% in the 4th quarter. Deutsche Bank AG now owns 31,761 shares of the company's stock worth $1,055,000 after acquiring an additional 9,848 shares during the period. Empowered Funds LLC increased its holdings in shares of Fresh Del Monte Produce by 5.1% in the 4th quarter. Empowered Funds LLC now owns 262,063 shares of the company's stock worth $8,703,000 after acquiring an additional 12,723 shares during the period. Intech Investment Management LLC increased its holdings in shares of Fresh Del Monte Produce by 253.1% in the 4th 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. Finally, Stephens Inc. AR acquired a new stake in shares of Fresh Del Monte Produce in the 4th quarter worth about $467,000. 64.83% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Wall Street Zen cut shares of Fresh Del Monte Produce from a "buy" rating to a "hold" rating in a report on Tuesday, March 25th.

Fresh Del Monte Produce Stock Performance

Shares of FDP stock traded down $0.32 during trading hours on Friday, reaching $32.45. The stock had a trading volume of 408,022 shares, compared to its average volume of 335,391. 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 Inc. has a twelve month low of $21.23 and a twelve month high of $35.69. The firm has a 50-day simple moving average of $32.93 and a 200-day simple moving average of $32.09. The firm has a market capitalization of $1.56 billion, a PE ratio of 98.34 and a beta of 0.41.

Fresh Del Monte Produce (NYSE:FDP - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The company reported $0.63 earnings per share for the quarter, topping analysts' consensus estimates 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 company's revenue for the quarter was down .9% compared to the same quarter last year. During the same quarter last year, the company earned $0.34 EPS.

Fresh Del Monte Produce Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 6th. Shareholders of record on Wednesday, May 14th were paid a dividend of $0.30 per share. The ex-dividend date was Wednesday, May 14th. This represents a $1.20 annualized dividend and a yield of 3.70%. Fresh Del Monte Produce's payout ratio is 39.22%.

Fresh Del Monte Produce declared that its board has approved a stock buyback plan on Monday, February 24th that authorizes the company to buyback $150.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 10.4% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's management believes its shares are undervalued.

Insider Buying and Selling at Fresh Del Monte Produce

In other Fresh Del Monte Produce news, SVP Marissa R. Tenazas sold 1,148 shares of the firm's stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $31.05, for a total transaction of $35,645.40. Following the transaction, the senior vice president now owns 3,573 shares of the company's stock, valued at approximately $110,941.65. This trade represents a 24.32% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 30.10% of the stock is owned by corporate 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.