Mariner LLC Buys Shares of 8,109 Fresh Del Monte Produce Inc. (NYSE:FDP)

Mariner LLC purchased a new position in shares of Fresh Del Monte Produce Inc. (NYSE:FDP - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 8,109 shares of the company's stock, valued at approximately $269,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Pacer Advisors Inc. acquired a new position in Fresh Del Monte Produce during the fourth quarter worth $42,522,000. Advisors Preferred LLC acquired a new position in shares of Fresh Del Monte Produce during the 4th quarter valued at about $7,459,000. American Century Companies Inc. increased its holdings in shares of Fresh Del Monte Produce by 22.0% during the 4th quarter. American Century Companies Inc. now owns 950,108 shares of the company's stock valued at $31,553,000 after acquiring an additional 171,574 shares during the last quarter. Invesco Ltd. raised its position in shares of 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 period. Finally, Vanguard Group Inc. raised its holdings in Fresh Del Monte Produce by 2.8% in the 4th quarter. Vanguard Group Inc. now owns 4,809,451 shares of the company's stock worth $159,722,000 after acquiring an additional 133,122 shares during the period. Institutional investors own 64.83% of the company's stock.

Insider Buying and Selling at Fresh Del Monte Produce

In other news, SVP Marissa R. Tenazas sold 1,148 shares of the business's stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $31.05, for a total transaction of $35,645.40. Following the sale, the senior vice president now directly owns 3,573 shares in the company, valued at approximately $110,941.65. The trade was a 24.32 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Ziad Nabulsi sold 1,725 shares of the company's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $30.42, for a total value of $52,474.50. Following the completion of the transaction, the senior vice president now owns 11,498 shares of the company's stock, valued at $349,769.16. The trade was a 13.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 10,469 shares of company stock valued at $319,190 in the last quarter. Corporate insiders own 30.10% of the company's stock.

Fresh Del Monte Produce Stock Up 0.1 %

FDP opened at $33.42 on Tuesday. The business has a 50 day moving average of $31.25 and a 200-day moving average of $31.82. The stock has a market capitalization of $1.60 billion, a price-to-earnings ratio of 101.28 and a beta of 0.36. The company has a current ratio of 2.09, a quick ratio of 1.04 and a debt-to-equity ratio of 0.14. Fresh Del Monte Produce Inc. has a 1-year low of $21.23 and a 1-year high of $35.27.

Fresh Del Monte Produce (NYSE:FDP - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The company reported $0.63 earnings per share for the quarter, beating analysts' consensus estimates 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 firm had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.12 billion. During the same period in the prior year, the firm earned $0.34 EPS. The business's revenue was down .9% on a year-over-year basis.

Fresh Del Monte Produce announced that its board has authorized a share buyback 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 usually an indication that the company's leadership believes its stock is undervalued.

Fresh Del Monte Produce Dividend Announcement

The company also recently declared 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. The ex-dividend date of this dividend is Wednesday, May 14th. This represents a $1.20 annualized dividend and a yield of 3.59%. Fresh Del Monte Produce's dividend payout ratio is 39.22%.

Analysts Set New Price Targets

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

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.

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