Martingale Asset Management L P Increases Stock Position in Fresh Del Monte Produce Inc. (NYSE:FDP)

Martingale Asset Management L P lifted its holdings in shares of Fresh Del Monte Produce Inc. (NYSE:FDP - Free Report) by 22.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 82,148 shares of the company's stock after purchasing an additional 14,808 shares during the quarter. Martingale Asset Management L P owned 0.17% of Fresh Del Monte Produce worth $2,728,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. Sherman Asset Management Inc. purchased a new stake in Fresh Del Monte Produce during the 4th quarter valued at about $54,000. Signaturefd LLC grew its position in Fresh Del Monte Produce by 244.3% during 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 last quarter. HHM Wealth Advisors LLC raised its position 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 worth $58,000 after acquiring an additional 750 shares in the last quarter. KBC Group NV boosted its stake 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 valued at $85,000 after acquiring an additional 1,005 shares during the last quarter. Finally, Meeder Asset Management Inc. purchased a new position in shares of Fresh Del Monte Produce in the 4th quarter worth about $174,000. 64.83% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded shares of Fresh Del Monte Produce from a "buy" rating to a "hold" rating in a report on Tuesday, March 25th.

Insider Buying and Selling at Fresh Del Monte Produce

In other Fresh Del Monte Produce news, SVP Ziad Nabulsi sold 1,725 shares of the firm's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $30.42, for a total value of $52,474.50. Following the sale, the senior vice president now directly owns 11,498 shares in the company, valued at $349,769.16. This trade represents a 13.05 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Marissa R. Tenazas sold 1,148 shares of the business'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 completion of the transaction, the senior vice president now directly owns 3,573 shares of the company's stock, valued at $110,941.65. The trade was a 24.32 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 10,469 shares of company stock valued at $319,190 over the last ninety days. 30.10% of the stock is currently owned by company insiders.

Fresh Del Monte Produce Stock Up 1.2 %

Shares of Fresh Del Monte Produce stock traded up $0.37 on Wednesday, hitting $31.70. The company had a trading volume of 65,756 shares, compared to its average volume of 302,610. 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 market capitalization of $1.52 billion, a P/E ratio of 96.06 and a beta of 0.36. 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 stock has a 50-day moving average of $30.37 and a 200-day moving average of $31.38.

Fresh Del Monte Produce (NYSE:FDP - Get Free Report) last issued its earnings results on Monday, February 24th. The company reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.42 by ($0.16). The company had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $1.14 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 up .5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.25 earnings per share.

Fresh Del Monte Produce Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Monday, March 10th were issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 3.79%. This is a boost from Fresh Del Monte Produce's previous quarterly dividend of $0.25. The ex-dividend date was Monday, March 10th. Fresh Del Monte Produce's dividend payout ratio is presently 40.40%.

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

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.