Hsbc Holdings PLC Sells 8,618 Shares of Fresh Del Monte Produce Inc. (NYSE:FDP)

Hsbc Holdings PLC lowered its position in shares of Fresh Del Monte Produce Inc. (NYSE:FDP - Free Report) by 31.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 18,372 shares of the company's stock after selling 8,618 shares during the quarter. Hsbc Holdings PLC's holdings in Fresh Del Monte Produce were worth $609,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Barclays PLC boosted its holdings in Fresh Del Monte Produce by 185.7% in the third quarter. Barclays PLC now owns 70,694 shares of the company's stock worth $2,087,000 after acquiring an additional 45,952 shares in the last quarter. Tidal Investments LLC bought a new position in Fresh Del Monte Produce in the 3rd quarter worth about $597,000. Franklin Resources Inc. grew its position in Fresh Del Monte Produce by 18.0% during the 3rd quarter. Franklin Resources Inc. now owns 36,710 shares of the company's stock valued at $1,066,000 after purchasing an additional 5,587 shares during the last quarter. JPMorgan Chase & Co. increased its stake in Fresh Del Monte Produce by 25.5% during the 3rd 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 in the last quarter. Finally, GAMMA Investing LLC raised its holdings in Fresh Del Monte Produce by 106.5% in the fourth quarter. GAMMA Investing LLC now owns 7,482 shares of the company's stock worth $248,000 after buying an additional 3,858 shares during the last quarter. Hedge funds and other institutional investors own 64.83% of the company's stock.

Fresh Del Monte Produce Stock Performance

FDP stock traded down $0.09 during trading on Friday, reaching $32.97. The stock had a trading volume of 290,359 shares, compared to its average volume of 323,456. The firm has a market cap of $1.58 billion, a PE ratio of 99.91 and a beta of 0.36. 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's 50 day moving average is $31.49 and its two-hundred day moving average is $31.92. Fresh Del Monte Produce Inc. has a 52 week low of $21.23 and a 52 week high of $35.27.

Fresh Del Monte Produce (NYSE:FDP - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The company reported $0.63 earnings per share (EPS) for the quarter, topping 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 company had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.12 billion. During the same quarter last year, the firm posted $0.34 earnings per share. The firm's revenue was down .9% compared to the same quarter last year.

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

Fresh Del Monte Produce Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Wednesday, May 14th will be issued a $0.30 dividend. The ex-dividend date is Wednesday, May 14th. This represents a $1.20 dividend on an annualized basis and a yield of 3.64%. Fresh Del Monte Produce's dividend payout ratio is currently 39.22%.

Insider Activity at Fresh Del Monte Produce

In other Fresh Del Monte Produce news, 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 sale, the chief financial officer now directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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 value of $35,645.40. Following the completion of the transaction, the senior vice president now owns 3,573 shares in the company, valued at $110,941.65. The trade was a 24.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 10,469 shares of company stock worth $319,190. Corporate insiders own 31.60% of the company's stock.

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.

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.