Teza Capital Management LLC Raises Stock Position in Fresh Del Monte Produce Inc. (NYSE:FDP)

Teza Capital Management LLC grew its holdings in Fresh Del Monte Produce Inc. (NYSE:FDP - Free Report) by 99.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,989 shares of the company's stock after purchasing an additional 8,476 shares during the quarter. Teza Capital Management LLC's holdings in Fresh Del Monte Produce were worth $564,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of the business. Parvin Asset Management LLC purchased a new stake in shares of Fresh Del Monte Produce during the 4th quarter valued at approximately $30,000. Sterling Capital Management LLC raised its position 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 valued at $36,000 after buying an additional 962 shares during the period. State of Wyoming purchased a new stake in shares of Fresh Del Monte Produce during the 4th quarter valued at approximately $54,000. Sherman Asset Management Inc. purchased a new stake in shares of Fresh Del Monte Produce during the 4th quarter valued at approximately $54,000. Finally, Signaturefd LLC raised its position 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 valued at $55,000 after buying an additional 1,180 shares during the period. 64.83% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Fresh Del Monte Produce

In related 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 transaction of $35,645.40. Following the completion of 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 transaction was disclosed in a document filed with the SEC, which is available at this link. Also, COO Mohammed Abbas sold 5,064 shares of the stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $30.42, for a total transaction of $154,046.88. Following the transaction, the chief operating officer now directly owns 45,560 shares of the company's stock, valued at $1,385,935.20. This represents a 10.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 10,469 shares of company stock worth $319,190. Company insiders own 31.60% of the company's stock.

Fresh Del Monte Produce Stock Up 1.8%

Shares of Fresh Del Monte Produce stock traded up $0.61 during trading hours on Friday, reaching $34.43. 322,397 shares of the company were exchanged, compared to its average volume of 330,091. Fresh Del Monte Produce Inc. has a 1 year low of $21.23 and a 1 year high of $35.27. The stock's fifty day moving average is $32.09 and its 200 day moving average is $32.08. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.04 and a current ratio of 2.09. The firm has a market cap of $1.65 billion, a PE ratio of 104.34 and a beta of 0.36.

Fresh Del Monte Produce (NYSE:FDP - Get Free Report) last issued its earnings results on Wednesday, April 30th. The company reported $0.63 EPS for the quarter, topping analysts' consensus estimates of $0.62 by $0.01. Fresh Del Monte Produce had a net margin of 0.36% and a return on equity of 5.91%. The firm had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.12 billion. During the same quarter in the previous year, the firm posted $0.34 earnings per share. The company's revenue was down .9% compared to the same quarter last year.

Fresh Del Monte Produce declared that its board has initiated a stock repurchase program on Monday, February 24th that permits the company to buyback $150.00 million in shares. This buyback authorization permits the company to purchase up to 10.4% of its shares through open market purchases. Shares buyback programs are typically a sign that the company's leadership believes its stock is undervalued.

Fresh Del Monte Produce Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Wednesday, May 14th will be paid a dividend of $0.30 per share. The ex-dividend date of this dividend is Wednesday, May 14th. This represents a $1.20 annualized dividend and a dividend yield of 3.49%. Fresh Del Monte Produce's dividend payout ratio (DPR) is 39.22%.

Analysts Set New Price Targets

Separately, Wall Street Zen lowered Fresh Del Monte Produce from a "buy" rating to a "hold" rating in a research report 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.