Two Sigma Advisers LP Cuts Stock Position in Fresh Del Monte Produce Inc. (NYSE:FDP)

Two Sigma Advisers LP lowered its position in Fresh Del Monte Produce Inc. (NYSE:FDP - Free Report) by 34.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 105,800 shares of the company's stock after selling 56,500 shares during the period. Two Sigma Advisers LP owned approximately 0.22% of Fresh Del Monte Produce worth $3,514,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in 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 purchasing an additional 133,122 shares in the last quarter. Pacer Advisors Inc. acquired a new stake in Fresh Del Monte Produce in the 4th quarter worth approximately $42,522,000. Charles Schwab Investment Management Inc. boosted its stake in 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 purchasing an additional 44,777 shares in the last quarter. American Century Companies Inc. boosted its stake in 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 purchasing an additional 171,574 shares in the last quarter. Finally, Invesco Ltd. boosted its stake in 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 purchasing an additional 164,120 shares in the last quarter. Hedge funds and other institutional investors own 64.83% of the company's stock.

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 research note on Tuesday, March 25th.

Fresh Del Monte Produce Stock Performance

FDP stock traded up $0.48 during trading on Friday, reaching $35.26. The company had a trading volume of 154,753 shares, compared to its average volume of 330,933. 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 twelve month low of $21.23 and a twelve month high of $35.27. The firm has a 50-day simple moving average of $32.48 and a 200-day simple moving average of $32.11. The company has a market cap of $1.69 billion, a price-to-earnings ratio of 106.84 and a beta of 0.36.

Fresh Del Monte Produce (NYSE:FDP - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The company reported $0.63 EPS for the quarter, beating the consensus estimate 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 business 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 business posted $0.34 EPS. The business's quarterly revenue was down .9% compared to the same quarter last year.

Fresh Del Monte Produce Announces Dividend

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 dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 3.40%. The ex-dividend date of this dividend is Wednesday, May 14th. Fresh Del Monte Produce's payout ratio is 39.22%.

Fresh Del Monte Produce announced that its Board of Directors has approved a stock repurchase program on Monday, February 24th that authorizes the company to repurchase $150.00 million in shares. This repurchase authorization authorizes the company to buy up to 10.4% of its shares through open market purchases. Shares repurchase programs are often an indication that the company's board believes its shares are undervalued.

Insider Buying and Selling at Fresh Del Monte Produce

In related news, SVP Ziad Nabulsi sold 1,725 shares of the business's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $30.42, for a total value of $52,474.50. Following the completion of the transaction, the senior vice president now directly owns 11,498 shares in the company, valued at $349,769.16. The trade was a 13.05% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Marissa R. Tenazas sold 1,148 shares of the business's stock in a transaction on 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 owns 3,573 shares of the company's stock, valued at approximately $110,941.65. This represents a 24.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 10,469 shares of company stock worth $319,190. Company insiders own 31.60% of the company's stock.

About Fresh Del Monte Produce

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.