Kovitz Investment Group Partners LLC Reduces Position in Fresh Del Monte Produce Inc. (NYSE:FDP)

Kovitz Investment Group Partners LLC decreased its holdings in shares of Fresh Del Monte Produce Inc. (NYSE:FDP - Free Report) by 64.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 39,647 shares of the company's stock after selling 70,960 shares during the quarter. Kovitz Investment Group Partners LLC owned about 0.08% of Fresh Del Monte Produce worth $1,317,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in FDP. Pacer Advisors Inc. bought a new position in Fresh Del Monte Produce in the 4th quarter valued at $42,522,000. Advisors Preferred LLC purchased a new stake in shares of Fresh Del Monte Produce in the 4th quarter valued at $7,459,000. American Century Companies Inc. increased its holdings in shares of Fresh Del Monte Produce by 22.0% in the fourth quarter. American Century Companies Inc. now owns 950,108 shares of the company's stock worth $31,553,000 after buying an additional 171,574 shares during the period. Invesco Ltd. lifted its position in Fresh Del Monte Produce by 21.7% in the fourth quarter. Invesco Ltd. now owns 919,612 shares of the company's stock valued at $30,540,000 after purchasing an additional 164,120 shares during the last quarter. Finally, Vanguard Group Inc. boosted its position in Fresh Del Monte Produce by 2.8% during the 4th quarter. Vanguard Group Inc. now owns 4,809,451 shares of the company's stock valued at $159,722,000 after buying an additional 133,122 shares during the period. Hedge funds and other institutional investors own 64.83% of the company's stock.

Analyst Upgrades and Downgrades

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

Insider Activity at Fresh Del Monte Produce

In other news, COO Mohammed Abbas sold 5,064 shares of Fresh Del Monte Produce stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $30.42, for a total transaction of $154,046.88. Following the transaction, the chief operating officer now owns 45,560 shares in the company, valued at $1,385,935.20. This trade represents a 10.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Ziad Nabulsi sold 1,725 shares of the business's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $30.42, for a total value of $52,474.50. Following the sale, the senior vice president now directly owns 11,498 shares of the company's stock, valued at $349,769.16. This represents 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 over the last ninety days. Insiders own 30.10% of the company's stock.

Fresh Del Monte Produce Trading Down 0.5 %

Shares of FDP traded down $0.17 during trading hours on Monday, reaching $33.23. 39,313 shares of the company traded hands, compared to its average volume of 318,724. 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 market capitalization of $1.59 billion, a price-to-earnings ratio of 100.88 and a beta of 0.36. The company's fifty day moving average price is $31.18 and its two-hundred day moving average price is $31.80. 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 announced its quarterly earnings data on Wednesday, April 30th. The company reported $0.63 earnings per share for the quarter, topping analysts' consensus estimates of $0.62 by $0.01. The business had revenue of $1.10 billion for the quarter, compared to analysts' expectations of $1.12 billion. Fresh Del Monte Produce had a net margin of 0.36% and a return on equity of 5.91%. The business's revenue was down .9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.34 earnings per share.

Fresh Del Monte Produce Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Wednesday, May 14th will be paid 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 3.61%. Fresh Del Monte Produce's dividend payout ratio is 39.22%.

Fresh Del Monte Produce declared that its Board of Directors has approved a share repurchase 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 shares through open market purchases. Shares repurchase programs are often a sign that the company's leadership believes its stock is undervalued.

Fresh Del Monte Produce Company 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.