First Trust Advisors LP Cuts Stake in Fresh Del Monte Produce Inc. (NYSE:FDP)

First Trust Advisors LP cut its holdings in shares of Fresh Del Monte Produce Inc. (NYSE:FDP - Free Report) by 12.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 55,642 shares of the company's stock after selling 8,253 shares during the quarter. First Trust Advisors LP owned about 0.12% of Fresh Del Monte Produce worth $1,848,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Sterling Capital Management LLC lifted its holdings in shares of Fresh Del Monte Produce by 795.0% in the 4th quarter. Sterling Capital Management LLC now owns 1,083 shares of the company's stock worth $36,000 after acquiring an additional 962 shares during the last quarter. Sherman Asset Management Inc. purchased a new stake in shares of Fresh Del Monte Produce during the fourth quarter worth $54,000. Signaturefd LLC raised its stake in shares of Fresh Del Monte Produce by 244.3% in the fourth quarter. Signaturefd LLC now owns 1,663 shares of the company's stock valued at $55,000 after acquiring an additional 1,180 shares in the last quarter. HHM Wealth Advisors LLC boosted its holdings in Fresh Del Monte Produce by 75.0% in the fourth quarter. HHM Wealth Advisors LLC now owns 1,750 shares of the company's stock valued at $58,000 after purchasing an additional 750 shares during the period. Finally, KBC Group NV grew its position in shares of Fresh Del Monte Produce by 65.0% during the fourth quarter. KBC Group NV now owns 2,550 shares of the company's stock worth $85,000 after buying an additional 1,005 shares in the last quarter. 64.83% of the stock is owned by institutional investors and hedge funds.

Fresh Del Monte Produce Stock Down 0.3 %

Fresh Del Monte Produce stock traded down $0.09 during midday trading on Friday, reaching $32.97. The company's stock had a trading volume of 290,359 shares, compared to its average volume of 322,153. Fresh Del Monte Produce Inc. has a fifty-two week low of $21.23 and a fifty-two week high of $35.27. The company has a market cap of $1.58 billion, a P/E ratio of 99.91 and a beta of 0.36. 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 business has a 50-day simple moving average of $31.43 and a 200-day simple moving average of $31.87.

Fresh Del Monte Produce (NYSE:FDP - Get Free Report) last posted its earnings results on Wednesday, April 30th. The company reported $0.63 EPS for the quarter, beating 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 for the quarter, compared to the consensus estimate of $1.12 billion. During the same period last year, the firm posted $0.34 EPS. The company'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. Stockholders 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 3.64%. The ex-dividend date is Wednesday, May 14th. Fresh Del Monte Produce's payout ratio is currently 39.22%.

Fresh Del Monte Produce declared that its Board of Directors has initiated a stock buyback plan on Monday, February 24th that authorizes the company to repurchase $150.00 million in outstanding shares. This repurchase authorization authorizes the company to buy up to 10.4% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's leadership believes its stock is undervalued.

Analyst Ratings Changes

Separately, StockNews.com 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

In other news, SVP Marissa R. Tenazas sold 1,148 shares of the firm's stock in a transaction that occurred 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 transaction, the senior vice president now directly owns 3,573 shares in the company, valued at approximately $110,941.65. This trade represents a 24.32 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, 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 transaction 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 10,469 shares of company stock worth $319,190 in the last quarter. 31.60% of the stock is owned by insiders.

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.