Northern Trust Corp Purchases 34,447 Shares of Fresh Del Monte Produce Inc. (NYSE:FDP)

Northern Trust Corp raised its position in Fresh Del Monte Produce Inc. (NYSE:FDP - Free Report) by 10.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 376,203 shares of the company's stock after acquiring an additional 34,447 shares during the quarter. Northern Trust Corp owned approximately 0.78% of Fresh Del Monte Produce worth $12,494,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Barclays PLC increased its position in shares of Fresh Del Monte Produce by 185.7% in the third quarter. Barclays PLC now owns 70,694 shares of the company's stock valued at $2,087,000 after acquiring an additional 45,952 shares during the period. Empowered Funds LLC increased its position in shares of Fresh Del Monte Produce by 5.1% in the fourth quarter. Empowered Funds LLC now owns 262,063 shares of the company's stock valued at $8,703,000 after acquiring an additional 12,723 shares during the period. Intech Investment Management LLC increased its position in shares of Fresh Del Monte Produce by 253.1% in the fourth quarter. Intech Investment Management LLC now owns 44,846 shares of the company's stock valued at $1,489,000 after acquiring an additional 32,145 shares during the period. Stephens Inc. AR purchased a new position in shares of Fresh Del Monte Produce during the fourth quarter valued at about $467,000. Finally, Franklin Resources Inc. increased its position 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 buying an additional 5,587 shares during the period. Hedge funds and other institutional investors own 64.83% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen cut shares of Fresh Del Monte Produce from a "buy" rating to a "hold" rating in a research report on Tuesday, March 25th.

Insiders Place Their Bets

In other Fresh Del Monte Produce news, SVP Ziad Nabulsi sold 1,725 shares of the company'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 owns 11,498 shares in the company, valued at approximately $349,769.16. This represents a 13.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Marissa R. Tenazas sold 1,148 shares of the company'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 completion of the transaction, the senior vice president now owns 3,573 shares in the company, valued at approximately $110,941.65. This represents a 24.32% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 10,469 shares of company stock worth $319,190. 31.60% of the stock is currently owned by company insiders.

Fresh Del Monte Produce Trading Up 0.2%

Shares of NYSE FDP traded up $0.08 during midday trading on Thursday, hitting $33.79. 343,275 shares of the company traded hands, compared to its average volume of 328,945. 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 debt-to-equity ratio of 0.14, a quick ratio of 1.04 and a current ratio of 2.09. The stock has a 50-day moving average price of $32.00 and a 200 day moving average price of $32.09. The firm has a market cap of $1.62 billion, a P/E ratio of 102.39 and a beta of 0.36.

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

Fresh Del Monte Produce Dividend Announcement

The firm also recently disclosed 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. This represents a $1.20 annualized dividend and a yield of 3.55%. The ex-dividend date of this dividend is Wednesday, May 14th. Fresh Del Monte Produce's payout ratio is currently 39.22%.

Fresh Del Monte Produce declared that its Board of Directors has initiated a stock repurchase program on Monday, February 24th that permits the company to repurchase $150.00 million in outstanding shares. This repurchase authorization permits the company to reacquire up to 10.4% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company's board believes its stock is undervalued.

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.