GAMMA Investing LLC Has $6.73 Million Stock Position in Fresh Del Monte Produce Inc. (NYSE:FDP)

GAMMA Investing LLC boosted its position in Fresh Del Monte Produce Inc. (NYSE:FDP - Free Report) by 2,671.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 207,393 shares of the company's stock after acquiring an additional 199,911 shares during the period. GAMMA Investing LLC owned 0.43% of Fresh Del Monte Produce worth $6,727,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. Rhumbline Advisers boosted its holdings in Fresh Del Monte Produce by 0.3% during the fourth quarter. Rhumbline Advisers now owns 104,348 shares of the company's stock worth $3,465,000 after buying an additional 320 shares during the last quarter. Waterfront Wealth Inc. raised its position in shares of Fresh Del Monte Produce by 2.4% during the fourth quarter. Waterfront Wealth Inc. now owns 22,592 shares of the company's stock worth $750,000 after purchasing an additional 526 shares during the period. Bank of Montreal Can raised its position 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 valued at $321,000 after buying an additional 666 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Fresh Del Monte Produce by 3.7% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,211 shares of the company's stock valued at $638,000 after buying an additional 684 shares during the last quarter. Finally, MetLife Investment Management LLC grew its stake in Fresh Del Monte Produce by 4.0% in the fourth quarter. MetLife Investment Management LLC now owns 20,684 shares of the company's stock valued at $687,000 after purchasing an additional 786 shares in the last quarter. Institutional investors own 64.83% of the company's stock.

Insider Buying and Selling

In other Fresh Del Monte Produce news, SVP Marissa R. Tenazas sold 1,148 shares of the company's stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $31.05, for a total value of $35,645.40. Following the sale, the senior vice president now owns 3,573 shares in the company, valued at approximately $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 accessible through this link. 31.60% of the stock is currently owned by corporate insiders.

Fresh Del Monte Produce Stock Performance

NYSE:FDP traded down $0.31 during mid-day trading on Friday, hitting $32.81. 362,052 shares of the stock were exchanged, compared to its average volume of 337,025. The stock has a market capitalization of $1.57 billion, a price-to-earnings ratio of 99.43 and a beta of 0.41. The firm's 50-day simple moving average is $33.08 and its 200 day simple moving average is $32.09. 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 fifty-two week low of $21.23 and a fifty-two week high of $35.69.

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 for the quarter, beating the consensus estimate of $0.62 by $0.01. Fresh Del Monte Produce had a return on equity of 5.91% and a net margin of 0.36%. The firm had revenue of $1.10 billion during the quarter, compared to analysts' expectations of $1.12 billion. During the same period in the previous year, the firm earned $0.34 EPS. The company's quarterly revenue was down .9% compared to the same quarter last year.

Fresh Del Monte Produce announced that its Board of Directors has approved a stock repurchase plan on Monday, February 24th that allows the company to buyback $150.00 million in outstanding shares. This buyback authorization allows the company to reacquire up to 10.4% of its stock through open market purchases. Stock buyback plans are often 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 was paid on Friday, June 6th. Investors of record on Wednesday, May 14th were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Wednesday, May 14th. This represents a $1.20 dividend on an annualized basis and a yield of 3.66%. Fresh Del Monte Produce's dividend payout ratio is currently 39.22%.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen downgraded 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.