Kovitz Investment Group Partners LLC Has $1.32 Million Stock Position in Fresh Del Monte Produce Inc. (NYSE:FDP)

Kovitz Investment Group Partners LLC trimmed its holdings in Fresh Del Monte Produce Inc. (NYSE:FDP - Free Report) by 64.2% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 39,647 shares of the company's stock after selling 70,960 shares during the period. Kovitz Investment Group Partners LLC owned 0.08% of Fresh Del Monte Produce worth $1,317,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Barclays PLC grew its stake in Fresh Del Monte Produce by 185.7% in the 3rd quarter. Barclays PLC now owns 70,694 shares of the company's stock valued at $2,087,000 after buying an additional 45,952 shares during the last quarter. Tidal Investments LLC acquired a new position in Fresh Del Monte Produce during the third quarter worth $597,000. Franklin Resources Inc. lifted its holdings in shares of Fresh Del Monte Produce by 18.0% during the third quarter. Franklin Resources Inc. now owns 36,710 shares of the company's stock valued at $1,066,000 after acquiring an additional 5,587 shares during the period. JPMorgan Chase & Co. grew its holdings in shares of Fresh Del Monte Produce by 25.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 437,998 shares of the company's stock worth $12,938,000 after purchasing an additional 88,900 shares during the last quarter. Finally, GAMMA Investing LLC raised its stake in shares of Fresh Del Monte Produce by 106.5% in the fourth quarter. GAMMA Investing LLC now owns 7,482 shares of the company's stock valued at $248,000 after acquiring an additional 3,858 shares during the last quarter. Institutional investors and hedge funds own 64.83% of the company's stock.

Insider Buying and Selling

In other Fresh Del Monte Produce news, COO Mohammed Abbas sold 5,064 shares of the stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $30.42, for a total value of $154,046.88. Following the transaction, the chief operating officer now owns 45,560 shares of the company's stock, valued at approximately $1,385,935.20. This represents a 10.00 % 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, SVP Ziad Nabulsi sold 1,725 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 value of $52,474.50. Following the transaction, the senior vice president now owns 11,498 shares in the company, valued at approximately $349,769.16. This trade represents a 13.05 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 10,469 shares of company stock valued at $319,190 over the last ninety days. Insiders own 30.10% of the company's stock.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded 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

NYSE FDP traded down $0.24 on Friday, hitting $33.38. 408,413 shares of the company were exchanged, compared to its average volume of 319,868. 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 company has a market cap of $1.60 billion, a P/E ratio of 101.15 and a beta of 0.36. Fresh Del Monte Produce Inc. has a 1-year low of $21.23 and a 1-year high of $35.27. The firm has a 50 day moving average of $31.18 and a two-hundred day moving average of $31.77.

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 the consensus estimate of $0.62 by $0.01. The firm had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.12 billion. Fresh Del Monte Produce had a return on equity of 5.91% and a net margin of 0.36%. The business's revenue for the quarter was down .9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.34 EPS.

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

Fresh Del Monte Produce Announces Dividend

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 given a dividend of $0.30 per share. The ex-dividend date is Wednesday, May 14th. This represents a $1.20 dividend on an annualized basis and a yield of 3.59%. Fresh Del Monte Produce's payout ratio is presently 40.40%.

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.