Jacobs Levy Equity Management Inc. Has $3.43 Million Stake in Fresh Del Monte Produce Inc. (NYSE:FDP)

Jacobs Levy Equity Management Inc. lessened its stake in Fresh Del Monte Produce Inc. (NYSE:FDP - Free Report) by 18.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 103,381 shares of the company's stock after selling 24,168 shares during the quarter. Jacobs Levy Equity Management Inc. owned about 0.22% of Fresh Del Monte Produce worth $3,433,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in FDP. Rhumbline Advisers boosted its stake in shares of Fresh Del Monte Produce by 0.3% in the 4th quarter. Rhumbline Advisers now owns 104,348 shares of the company's stock valued at $3,465,000 after purchasing an additional 320 shares during the last quarter. Carolina Wealth Advisors LLC boosted its stake in shares of Fresh Del Monte Produce by 2.6% in the 4th quarter. Carolina Wealth Advisors LLC now owns 19,403 shares of the company's stock valued at $644,000 after purchasing an additional 486 shares during the last quarter. Waterfront Wealth Inc. boosted its stake in shares of Fresh Del Monte Produce by 2.4% in the 4th quarter. Waterfront Wealth Inc. now owns 22,592 shares of the company's stock valued at $750,000 after purchasing an additional 526 shares during the last quarter. Bank of Montreal Can boosted its stake in shares of Fresh Del Monte Produce by 7.4% in the 4th quarter. Bank of Montreal Can now owns 9,669 shares of the company's stock valued at $321,000 after purchasing an additional 666 shares during the last quarter. Finally, HHM Wealth Advisors LLC boosted its stake in shares of Fresh Del Monte Produce by 75.0% in the 4th 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 last quarter. Institutional investors and hedge funds own 64.83% of the company's stock.

Fresh Del Monte Produce Trading Up 0.9%

Shares of NYSE FDP traded up $0.31 during mid-day trading on Tuesday, hitting $34.11. The company's stock had a trading volume of 72,233 shares, compared to its average volume of 326,392. The stock has a market cap of $1.63 billion, a price-to-earnings ratio of 103.46 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 Inc. has a one year low of $21.23 and a one year high of $35.27. The company's fifty day simple moving average is $31.78 and its 200-day simple moving average is $32.06.

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

Fresh Del Monte Produce declared that its Board of Directors has authorized a share 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 shares through open market purchases. Shares repurchase plans are usually an indication that the company's board believes its stock is undervalued.

Fresh Del Monte Produce Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Wednesday, May 14th will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 3.52%. The ex-dividend date is Wednesday, May 14th. Fresh Del Monte Produce's payout ratio is 39.22%.

Insider Buying and Selling

In other Fresh Del Monte Produce news, CFO Monica Vicente sold 2,532 shares of Fresh Del Monte Produce stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $30.42, for a total value of $77,023.44. Following the transaction, the chief financial officer now owns 10,808 shares of the company's stock, valued at approximately $328,779.36. The trade was a 18.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Ziad Nabulsi sold 1,725 shares of Fresh Del Monte Produce stock in a transaction that occurred 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 approximately $349,769.16. The trade was a 13.05% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 10,469 shares of company stock valued at $319,190 in the last 90 days. 31.60% of the stock is owned by insiders.

Analysts Set New Price Targets

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

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.