JPMorgan Chase & Co. Reduces Stock Holdings in Fresh Del Monte Produce Inc. (NYSE:FDP)

JPMorgan Chase & Co. lowered its stake in Fresh Del Monte Produce Inc. (NYSE:FDP - Free Report) by 6.9% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 407,673 shares of the company's stock after selling 30,325 shares during the period. JPMorgan Chase & Co. owned approximately 0.85% of Fresh Del Monte Produce worth $13,539,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently made changes to their positions in FDP. Sherman Asset Management Inc. bought a new stake in Fresh Del Monte Produce during the fourth quarter worth $54,000. Signaturefd LLC lifted its stake in shares of Fresh Del Monte Produce by 244.3% in the fourth quarter. Signaturefd LLC now owns 1,663 shares of the company's stock worth $55,000 after acquiring an additional 1,180 shares during the period. HHM Wealth Advisors LLC raised its stake in Fresh Del Monte Produce by 75.0% during the fourth quarter. HHM Wealth Advisors LLC now owns 1,750 shares of the company's stock worth $58,000 after buying an additional 750 shares during the last quarter. KBC Group NV boosted its position in shares of Fresh Del Monte Produce by 65.0% during the 4th quarter. KBC Group NV now owns 2,550 shares of the company's stock valued at $85,000 after purchasing an additional 1,005 shares in the last quarter. Finally, GAMMA Investing LLC boosted its holdings in shares of Fresh Del Monte Produce by 106.5% during the 4th quarter. GAMMA Investing LLC now owns 7,482 shares of the company's stock worth $248,000 after buying an additional 3,858 shares in the last quarter. Institutional investors own 64.83% of the company's stock.

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 research report on Tuesday, March 25th.

Fresh Del Monte Produce Price Performance

FDP traded up $0.31 during trading on Thursday, reaching $32.09. 212,318 shares of the company were exchanged, compared to its average volume of 304,712. The company's 50-day moving average is $30.39 and its two-hundred day moving average is $31.38. The company has a market cap of $1.54 billion, a price-to-earnings ratio of 97.07 and a beta of 0.36. Fresh Del Monte Produce Inc. has a 12-month low of $21.23 and a 12-month high of $35.27. The company has a quick ratio of 1.04, a current ratio of 2.09 and a debt-to-equity ratio of 0.14.

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

Fresh Del Monte Produce Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Monday, March 10th were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 3.74%. This is a boost from Fresh Del Monte Produce's previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Monday, March 10th. Fresh Del Monte Produce's dividend payout ratio is currently 40.40%.

Fresh Del Monte Produce declared that its board has approved a stock repurchase plan on Monday, February 24th that allows the company to repurchase $150.00 million in outstanding shares. This repurchase authorization allows the company to buy up to 10.4% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company's board of directors believes its stock is undervalued.

Insider Transactions at Fresh Del Monte Produce

In other Fresh Del Monte Produce news, 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 completion of the sale, the senior vice president now directly owns 3,573 shares in the company, valued at approximately $110,941.65. This trade represents a 24.32 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Mohammed Abbas sold 5,064 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $30.42, for a total transaction of $154,046.88. Following the completion of the transaction, the chief operating officer now owns 45,560 shares in the company, valued at approximately $1,385,935.20. This trade represents a 10.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 10,469 shares of company stock worth $319,190. 30.10% of the stock is currently owned by insiders.

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.