Voloridge Investment Management LLC Sells 80,773 Shares of Fresh Del Monte Produce Inc. (NYSE:FDP)

Voloridge Investment Management LLC trimmed its stake in shares of Fresh Del Monte Produce Inc. (NYSE:FDP - Free Report) by 39.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 122,105 shares of the company's stock after selling 80,773 shares during the quarter. Voloridge Investment Management LLC owned about 0.25% of Fresh Del Monte Produce worth $4,055,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Parvin Asset Management LLC acquired a new position in shares of Fresh Del Monte Produce in the 4th quarter worth $30,000. Sterling Capital Management LLC increased its position in shares of Fresh Del Monte Produce by 795.0% in the fourth quarter. Sterling Capital Management LLC now owns 1,083 shares of the company's stock worth $36,000 after acquiring an additional 962 shares in the last quarter. Sherman Asset Management Inc. acquired a new stake in shares of Fresh Del Monte Produce during the fourth quarter valued at approximately $54,000. State of Wyoming purchased a new stake in shares of Fresh Del Monte Produce in the 4th quarter valued at approximately $54,000. Finally, Signaturefd LLC boosted its stake in Fresh Del Monte Produce by 244.3% in the 4th quarter. Signaturefd LLC now owns 1,663 shares of the company's stock worth $55,000 after purchasing an additional 1,180 shares during the period. 64.83% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, SVP Ziad Nabulsi sold 1,725 shares of Fresh Del Monte Produce 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 transaction, the senior vice president now owns 11,498 shares in the company, valued at $349,769.16. This trade represents a 13.05% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Marissa R. Tenazas sold 1,148 shares of the company's 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 sale, the senior vice president now owns 3,573 shares of the company's stock, valued at $110,941.65. This trade represents a 24.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 10,469 shares of company stock valued at $319,190 over the last three months. 31.60% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

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

Fresh Del Monte Produce Stock Up 1.4%

FDP stock traded up $0.50 during mid-day trading on Friday, hitting $35.28. The stock had a trading volume of 444,687 shares, compared to its average volume of 380,320. Fresh Del Monte Produce Inc. has a 1-year low of $21.23 and a 1-year high of $35.34. The company has a fifty day moving average of $32.48 and a 200 day moving average of $32.11. The company has a current ratio of 2.09, a quick ratio of 1.04 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $1.69 billion, a price-to-earnings ratio of 106.91 and a beta of 0.36.

Fresh Del Monte Produce (NYSE:FDP - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The company reported $0.63 EPS for the quarter, topping analysts' consensus estimates 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 firm's revenue was down .9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.34 earnings per share.

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

Fresh Del Monte Produce Dividend Announcement

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

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.