Invenomic Capital Management LP Lowers Stock Holdings in Fresh Del Monte Produce Inc. (NYSE:FDP)

Invenomic Capital Management LP lessened its holdings in Fresh Del Monte Produce Inc. (NYSE:FDP - Free Report) by 13.5% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 271,884 shares of the company's stock after selling 42,362 shares during the period. Invenomic Capital Management LP owned 0.57% of Fresh Del Monte Produce worth $9,029,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in FDP. Barclays PLC raised its holdings in shares of Fresh Del Monte Produce by 185.7% in the 3rd quarter. Barclays PLC now owns 70,694 shares of the company's stock valued at $2,087,000 after acquiring an additional 45,952 shares in the last quarter. JPMorgan Chase & Co. lifted its position in Fresh Del Monte Produce by 25.5% during the third quarter. JPMorgan Chase & Co. now owns 437,998 shares of the company's stock valued at $12,938,000 after purchasing an additional 88,900 shares during the last quarter. Empowered Funds LLC increased its holdings in shares of Fresh Del Monte Produce by 5.1% in the 4th quarter. Empowered Funds LLC now owns 262,063 shares of the company's stock worth $8,703,000 after buying an additional 12,723 shares during the last quarter. Intech Investment Management LLC raised its position in shares of Fresh Del Monte Produce by 253.1% during the 4th quarter. Intech Investment Management LLC now owns 44,846 shares of the company's stock valued at $1,489,000 after buying an additional 32,145 shares in the last quarter. Finally, Stephens Inc. AR purchased a new position in Fresh Del Monte Produce in the fourth quarter worth $467,000. Institutional investors own 64.83% of the company's stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered Fresh Del Monte Produce from a "buy" rating to a "hold" rating in a research note on Tuesday, March 25th.

Fresh Del Monte Produce Trading Up 2.3%

Fresh Del Monte Produce stock traded up $0.77 during mid-day trading on Friday, hitting $33.44. The company's stock had a trading volume of 387,922 shares, compared to its average volume of 325,603. The business has a 50 day moving average price of $31.64 and a 200-day moving average price of $31.99. Fresh Del Monte Produce Inc. has a 12 month low of $21.23 and a 12 month high of $35.27. The stock has a market cap of $1.60 billion, a price-to-earnings ratio of 101.32 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.

Fresh Del Monte Produce (NYSE:FDP - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The company reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.01. The business had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.12 billion. Fresh Del Monte Produce had a return on equity of 5.91% and a net margin of 0.36%. Fresh Del Monte Produce's revenue for the quarter was down .9% compared to the same quarter last year. During the same period last year, the company earned $0.34 EPS.

Fresh Del Monte Produce Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Shareholders 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 annualized dividend and a yield of 3.59%. Fresh Del Monte Produce's payout ratio is currently 39.22%.

Fresh Del Monte Produce declared that its Board of Directors has approved a stock repurchase plan 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 plans are usually a sign that the company's management believes its stock is undervalued.

Insider Activity

In other news, COO Mohammed Abbas sold 5,064 shares of Fresh Del Monte Produce stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $30.42, for a total transaction of $154,046.88. Following the sale, the chief operating officer now owns 45,560 shares of the company's stock, valued at approximately $1,385,935.20. The trade was a 10.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Monica Vicente sold 2,532 shares of the firm's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $30.42, for a total transaction of $77,023.44. Following the completion of the sale, the chief financial officer now owns 10,808 shares of the company's stock, valued at $328,779.36. This trade represents a 18.98% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 10,469 shares of company stock valued at $319,190. Insiders own 31.60% of the company's stock.

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.