Fresh Del Monte Produce Inc. (NYSE:FDP) Shares Sold by Voloridge Investment Management LLC

Voloridge Investment Management LLC lowered its holdings in shares of Fresh Del Monte Produce Inc. (NYSE:FDP - Free Report) by 39.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 122,105 shares of the company's stock after selling 80,773 shares during the period. Voloridge Investment Management LLC owned approximately 0.25% of Fresh Del Monte Produce worth $4,055,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of FDP. Vanguard Group Inc. boosted its position 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 last quarter. Pacer Advisors Inc. purchased a new stake in shares of Fresh Del Monte Produce during the fourth quarter valued at $42,522,000. Charles Schwab Investment Management Inc. boosted its position in shares of Fresh Del Monte Produce by 4.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,105,353 shares of the company's stock valued at $36,709,000 after buying an additional 44,777 shares during the last quarter. American Century Companies Inc. boosted its position in shares of Fresh Del Monte Produce by 22.0% during the fourth quarter. American Century Companies Inc. now owns 950,108 shares of the company's stock valued at $31,553,000 after buying an additional 171,574 shares during the last quarter. Finally, Invesco Ltd. boosted its position in shares of Fresh Del Monte Produce by 21.7% during the fourth quarter. Invesco Ltd. now owns 919,612 shares of the company's stock valued at $30,540,000 after buying an additional 164,120 shares during the last quarter. 64.83% of the stock is currently owned by institutional investors.

Fresh Del Monte Produce Stock Performance

Shares of FDP stock traded up $0.50 during trading hours on Friday, reaching $35.28. 444,719 shares of the company traded hands, compared to its average volume of 332,830. Fresh Del Monte Produce Inc. has a 12-month low of $21.23 and a 12-month high of $35.34. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.09 and a quick ratio of 1.04. The company has a market cap of $1.69 billion, a P/E ratio of 106.91 and a beta of 0.36. The firm has a 50-day moving average price of $32.60 and a 200 day moving average price of $32.10.

Fresh Del Monte Produce (NYSE:FDP - Get Free Report) last released its earnings results 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. The firm had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.12 billion. Fresh Del Monte Produce had a return on equity of 5.91% and a net margin of 0.36%. The company's revenue for the quarter was down .9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.34 EPS.

Fresh Del Monte Produce Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Wednesday, May 14th will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 3.40%. The ex-dividend date of this dividend is Wednesday, May 14th. Fresh Del Monte Produce's dividend payout ratio is 39.22%.

Fresh Del Monte Produce declared that its Board of Directors has approved a share buyback program on Monday, February 24th that authorizes the company to buyback $150.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 10.4% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's board believes its stock is undervalued.

Analyst Ratings Changes

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

Insiders Place Their Bets

In other Fresh Del Monte Produce news, SVP Marissa R. Tenazas sold 1,148 shares of the stock in a transaction that occurred 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 owns 3,573 shares in the company, 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 can be accessed through this hyperlink. Also, COO Mohammed Abbas sold 5,064 shares of the firm's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $30.42, for a total value of $154,046.88. Following the completion of the transaction, the chief operating officer now owns 45,560 shares in the company, valued at approximately $1,385,935.20. This trade represents a 10.00% decrease in their position. 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. 31.60% of the stock is currently owned by company 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.