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

Northern Trust Corp boosted its position in shares of Fresh Del Monte Produce Inc. (NYSE:FDP - Free Report) by 10.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 376,203 shares of the company's stock after acquiring an additional 34,447 shares during the quarter. Northern Trust Corp owned 0.78% of Fresh Del Monte Produce worth $12,494,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of FDP. Barclays PLC raised its holdings in Fresh Del Monte Produce by 185.7% in the 3rd quarter. Barclays PLC now owns 70,694 shares of the company's stock worth $2,087,000 after purchasing an additional 45,952 shares during the period. Empowered Funds LLC increased its position in Fresh Del Monte Produce by 5.1% in the fourth quarter. Empowered Funds LLC now owns 262,063 shares of the company's stock worth $8,703,000 after buying an additional 12,723 shares in the last quarter. Intech Investment Management LLC raised its stake 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 worth $1,489,000 after buying an additional 32,145 shares during the period. Stephens Inc. AR bought a new position in shares of Fresh Del Monte Produce in the fourth quarter worth about $467,000. Finally, Franklin Resources Inc. lifted its position in shares of Fresh Del Monte Produce by 18.0% during the 3rd 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 in the last quarter. Institutional investors own 64.83% of the company's stock.

Analysts Set New Price Targets

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

Insider Buying and Selling

In other news, SVP Ziad Nabulsi sold 1,725 shares of Fresh Del Monte Produce 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 sale, the senior vice president now directly owns 11,498 shares of the company's stock, valued at approximately $349,769.16. The trade was a 13.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Marissa R. Tenazas sold 1,148 shares of the stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $31.05, for a total value of $35,645.40. Following the transaction, the senior vice president now directly owns 3,573 shares of the company's stock, valued at approximately $110,941.65. The trade was a 24.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 10,469 shares of company stock valued at $319,190. Corporate insiders own 31.60% of the company's stock.

Fresh Del Monte Produce Price Performance

Shares of FDP stock traded up $0.19 on Tuesday, hitting $33.99. 404,316 shares of the stock traded hands, compared to its average volume of 327,629. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.09 and a quick ratio of 1.04. Fresh Del Monte Produce Inc. has a 52 week low of $21.23 and a 52 week high of $35.27. The firm has a 50 day simple moving average of $31.78 and a two-hundred day simple moving average of $32.06. The firm has a market cap of $1.63 billion, a price-to-earnings ratio of 103.00 and a beta of 0.36.

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 (EPS) for the quarter, topping analysts' consensus estimates of $0.62 by $0.01. The business had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.12 billion. Fresh Del Monte Produce had a return on equity of 5.91% and a net margin of 0.36%. Fresh Del Monte Produce'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 posted $0.34 EPS.

Fresh Del Monte Produce Announces Dividend

The firm also recently announced 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 3.53%. The ex-dividend date is Wednesday, May 14th. Fresh Del Monte Produce's dividend payout ratio (DPR) is presently 39.22%.

Fresh Del Monte Produce announced that its Board of Directors has initiated a stock buyback program on Monday, February 24th that permits the company to buyback $150.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 10.4% of its shares through open market purchases. Shares buyback programs are generally a sign that the company's board of directors believes its shares are undervalued.

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.