LSV Asset Management Cuts Position in Fresh Del Monte Produce Inc. (NYSE:FDP)

LSV Asset Management trimmed its position in Fresh Del Monte Produce Inc. (NYSE:FDP - Free Report) by 9.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 343,542 shares of the company's stock after selling 35,670 shares during the period. LSV Asset Management owned approximately 0.72% of Fresh Del Monte Produce worth $11,409,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in FDP. Sherman Asset Management Inc. acquired a new position in Fresh Del Monte Produce during the 4th quarter valued at about $54,000. Signaturefd LLC raised its position in Fresh Del Monte Produce by 244.3% in the 4th quarter. Signaturefd LLC now owns 1,663 shares of the company's stock valued at $55,000 after buying an additional 1,180 shares during the last quarter. HHM Wealth Advisors LLC lifted its stake in Fresh Del Monte Produce by 75.0% during the 4th quarter. HHM Wealth Advisors LLC now owns 1,750 shares of the company's stock valued at $58,000 after acquiring an additional 750 shares in the last quarter. KBC Group NV grew its stake in shares of Fresh Del Monte Produce by 65.0% in the 4th quarter. KBC Group NV now owns 2,550 shares of the company's stock worth $85,000 after acquiring an additional 1,005 shares in the last quarter. Finally, Meeder Asset Management Inc. bought a new position in shares of Fresh Del Monte Produce during the fourth quarter valued at about $174,000. Institutional investors own 64.83% of the company's stock.

Fresh Del Monte Produce Stock Performance

FDP traded up $0.49 during midday trading on Friday, reaching $32.27. The company had a trading volume of 630,859 shares, compared to its average volume of 307,039. The business has a 50-day moving average price of $30.42 and a two-hundred day moving average price of $31.40. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.04 and a current ratio of 2.09. 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 $1.55 billion, a PE ratio of 97.79 and a beta of 0.36.

Fresh Del Monte Produce (NYSE:FDP - Get Free Report) last released its earnings results on Monday, February 24th. The company reported $0.26 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.42 by ($0.16). The firm had revenue of $1.01 billion during the quarter, compared to analysts' expectations of $1.14 billion. Fresh Del Monte Produce had a return on equity of 5.91% and a net margin of 0.36%. The business's quarterly revenue was up .5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.25 earnings per share.

Fresh Del Monte Produce Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Monday, March 10th were issued a dividend of $0.30 per share. The ex-dividend date of this dividend was Monday, March 10th. This is an increase from Fresh Del Monte Produce's previous quarterly dividend of $0.25. This represents a $1.20 annualized dividend and a yield of 3.72%. Fresh Del Monte Produce's dividend payout ratio is 40.40%.

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 an indication that the company's management believes its shares are undervalued.

Wall Street Analyst Weigh In

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

Insiders Place Their Bets

In other news, SVP Ziad Nabulsi sold 1,725 shares of Fresh Del Monte Produce 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 completion of the transaction, the senior vice president now directly owns 11,498 shares in the company, valued at approximately $349,769.16. The trade was a 13.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Marissa R. Tenazas sold 1,148 shares of the stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $31.05, for a total value of $35,645.40. Following the sale, the senior vice president now directly owns 3,573 shares in the company, valued at $110,941.65. This trade represents a 24.32 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 10,469 shares of company stock worth $319,190 over the last quarter. 30.10% 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.