Teza Capital Management LLC Buys 8,476 Shares of Fresh Del Monte Produce Inc. (NYSE:FDP)

Teza Capital Management LLC lifted its stake in Fresh Del Monte Produce Inc. (NYSE:FDP - Free Report) by 99.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 16,989 shares of the company's stock after acquiring an additional 8,476 shares during the period. Teza Capital Management LLC's holdings in Fresh Del Monte Produce were worth $564,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. Vanguard Group Inc. raised its position in shares of Fresh Del Monte Produce by 2.8% in the 4th quarter. Vanguard Group Inc. now owns 4,809,451 shares of the company's stock worth $159,722,000 after acquiring an additional 133,122 shares in the last quarter. Pacer Advisors Inc. bought a new position in shares of Fresh Del Monte Produce in the 4th quarter worth $42,522,000. Charles Schwab Investment Management Inc. raised its position in shares of Fresh Del Monte Produce by 4.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,105,353 shares of the company's stock worth $36,709,000 after acquiring an additional 44,777 shares in the last quarter. American Century Companies Inc. raised its position in shares of Fresh Del Monte Produce by 22.0% in the 4th quarter. American Century Companies Inc. now owns 950,108 shares of the company's stock worth $31,553,000 after acquiring an additional 171,574 shares in the last quarter. Finally, Invesco Ltd. raised its position in shares of Fresh Del Monte Produce by 21.7% in the 4th quarter. Invesco Ltd. now owns 919,612 shares of the company's stock worth $30,540,000 after acquiring an additional 164,120 shares in the last quarter. 64.83% of the stock is owned by institutional investors.

Fresh Del Monte Produce Trading Up 1.2%

Shares of NYSE:FDP opened at $33.82 on Tuesday. The business's 50-day moving average is $31.78 and its 200 day moving average is $32.06. Fresh Del Monte Produce Inc. has a 1 year low of $21.23 and a 1 year high of $35.27. The firm has a market capitalization of $1.62 billion, a P/E ratio of 102.49 and a beta of 0.36. 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 (NYSE:FDP - Get Free Report) last announced its earnings results on Wednesday, April 30th. The company reported $0.63 earnings per share (EPS) 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 company had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.12 billion. During the same period in the prior year, the company posted $0.34 EPS. The firm's quarterly revenue was down .9% compared to the same quarter last year.

Fresh Del Monte Produce Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Wednesday, May 14th will be given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 3.55%. The ex-dividend date of this dividend is Wednesday, May 14th. Fresh Del Monte Produce's dividend payout ratio is currently 39.22%.

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

Analysts Set New Price Targets

Separately, StockNews.com lowered Fresh Del Monte Produce from a "buy" rating to a "hold" rating in a research report on Tuesday, March 25th.

Insider Activity at Fresh Del Monte Produce

In related news, SVP Ziad Nabulsi sold 1,725 shares of the company's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $30.42, for a total transaction of $52,474.50. Following the transaction, the senior vice president now directly owns 11,498 shares of the company's stock, valued at $349,769.16. This represents a 13.05% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Monica Vicente sold 2,532 shares of the business's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $30.42, for a total value of $77,023.44. Following the sale, the chief financial officer now owns 10,808 shares in the company, valued at approximately $328,779.36. The trade was a 18.98% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 10,469 shares of company stock valued at $319,190 in the last ninety days. Corporate insiders own 31.60% of the company's stock.

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.

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