Two Sigma Investments LP Reduces Position in Fresh Del Monte Produce Inc. (NYSE:FDP)

Two Sigma Investments LP cut its position in shares of Fresh Del Monte Produce Inc. (NYSE:FDP - Free Report) by 56.4% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 67,173 shares of the company's stock after selling 87,045 shares during the period. Two Sigma Investments LP owned about 0.14% of Fresh Del Monte Produce worth $2,231,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. increased its stake in shares of Fresh Del Monte Produce by 2.8% during the fourth quarter. Vanguard Group Inc. now owns 4,809,451 shares of the company's stock valued at $159,722,000 after buying an additional 133,122 shares during the period. Charles Schwab Investment Management Inc. increased its position in Fresh Del Monte Produce by 4.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,105,353 shares of the company's stock valued at $36,709,000 after purchasing an additional 44,777 shares during the period. American Century Companies Inc. increased its position in Fresh Del Monte Produce by 22.0% during the 4th quarter. American Century Companies Inc. now owns 950,108 shares of the company's stock valued at $31,553,000 after purchasing an additional 171,574 shares during the period. Invesco Ltd. raised its holdings 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 valued at $30,540,000 after purchasing an additional 164,120 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of Fresh Del Monte Produce by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 776,161 shares of the company's stock worth $25,782,000 after purchasing an additional 3,045 shares during the period. 64.83% of the stock is owned by institutional investors.

Fresh Del Monte Produce Stock Down 1.0%

Shares of NYSE FDP traded down $0.33 during mid-day trading on Thursday, reaching $32.80. 384,790 shares of the company were exchanged, compared to its average volume of 334,253. The company has a quick ratio of 1.04, a current ratio of 2.09 and a debt-to-equity ratio of 0.14. The stock has a market cap of $1.57 billion, a price-to-earnings ratio of 99.39 and a beta of 0.41. Fresh Del Monte Produce Inc. has a 1 year low of $21.23 and a 1 year high of $35.69. The firm has a 50-day moving average of $32.90 and a 200 day moving average of $32.13.

Fresh Del Monte Produce (NYSE:FDP - Get Free Report) last announced 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 business had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.12 billion. During the same period in the previous year, the company posted $0.34 earnings per share. The firm's revenue was down .9% on a year-over-year basis.

Fresh Del Monte Produce Dividend Announcement

The company 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. The ex-dividend date of this dividend is Wednesday, May 14th. This represents a $1.20 dividend on an annualized basis and a yield of 3.66%. Fresh Del Monte Produce's payout ratio is 39.22%.

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

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at Fresh Del Monte Produce

In other news, SVP Marissa R. Tenazas sold 1,148 shares of the company's stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $31.05, for a total transaction of $35,645.40. Following the transaction, the senior vice president now directly 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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 30.10% of the stock is owned by insiders.

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.