LPL Financial LLC Makes New $434,000 Investment in Fresh Del Monte Produce Inc. (NYSE:FDP)

LPL Financial LLC bought a new stake in Fresh Del Monte Produce Inc. (NYSE:FDP - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 13,075 shares of the company's stock, valued at approximately $434,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Sherman Asset Management Inc. acquired a new position in shares of Fresh Del Monte Produce in the fourth quarter valued at approximately $54,000. Signaturefd LLC increased its position in Fresh Del Monte Produce by 244.3% in the 4th quarter. Signaturefd LLC now owns 1,663 shares of the company's stock valued at $55,000 after acquiring an additional 1,180 shares during the period. HHM Wealth Advisors LLC raised its stake in shares of 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 valued at $58,000 after acquiring an additional 750 shares during the last quarter. KBC Group NV lifted its holdings in shares of Fresh Del Monte Produce by 65.0% during the fourth quarter. KBC Group NV now owns 2,550 shares of the company's stock worth $85,000 after purchasing an additional 1,005 shares during the period. Finally, GAMMA Investing LLC grew 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 worth $248,000 after purchasing an additional 3,858 shares during the last quarter. Institutional investors own 64.83% of the company's stock.

Wall Street Analysts Forecast Growth

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 Trading Down 1.6 %

FDP traded down $0.54 during trading on Thursday, reaching $33.48. 49,839 shares of the stock traded hands, compared to its average volume of 383,041. The company has a quick ratio of 1.04, a current ratio of 2.09 and a debt-to-equity ratio of 0.14. The stock's 50-day moving average is $31.04 and its 200 day moving average is $31.71. Fresh Del Monte Produce Inc. has a 12 month low of $21.23 and a 12 month high of $35.27. The stock has a market capitalization of $1.60 billion, a PE ratio of 101.44 and a beta of 0.36.

Fresh Del Monte Produce (NYSE:FDP - Get Free Report) last released its earnings results on Wednesday, April 30th. The company reported $0.63 EPS for the quarter, topping the consensus estimate of $0.62 by $0.01. The business had revenue of $1.10 billion during the quarter, compared to analysts' expectations of $1.12 billion. Fresh Del Monte Produce had a return on equity of 5.91% and a net margin of 0.36%. The firm's revenue was down .9% on a year-over-year basis. During the same quarter last year, the firm posted $0.34 earnings per share.

Fresh Del Monte Produce Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Monday, March 10th were issued a $0.30 dividend. This is a boost from Fresh Del Monte Produce's previous quarterly dividend of $0.25. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.58%. The ex-dividend date of this dividend was Monday, March 10th. Fresh Del Monte Produce's dividend payout ratio (DPR) is currently 40.40%.

Fresh Del Monte Produce declared that its Board of Directors has authorized a share buyback plan on Monday, February 24th that permits the company to buyback $150.00 million in outstanding shares. This buyback authorization permits the company to repurchase up to 10.4% of its shares through open market purchases. Shares buyback plans are often an indication that the company's management believes its stock is undervalued.

Insider Activity at Fresh Del Monte Produce

In other Fresh Del Monte Produce news, COO Mohammed Abbas sold 5,064 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 $154,046.88. Following the transaction, the chief operating officer now owns 45,560 shares of the company's stock, valued at $1,385,935.20. This trade represents a 10.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Ziad Nabulsi sold 1,725 shares of Fresh Del Monte Produce stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $30.42, for a total value of $52,474.50. Following the sale, the senior vice president now owns 11,498 shares in the company, valued at $349,769.16. This trade represents a 13.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 10,469 shares of company stock valued at $319,190. 30.10% of the stock is owned by company insiders.

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.