The Manufacturers Life Insurance Company Purchases 23,917 Shares of Fresh Del Monte Produce Inc. (NYSE:FDP)

The Manufacturers Life Insurance Company boosted its holdings in Fresh Del Monte Produce Inc. (NYSE:FDP - Free Report) by 17.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 163,754 shares of the company's stock after acquiring an additional 23,917 shares during the quarter. The Manufacturers Life Insurance Company owned 0.34% of Fresh Del Monte Produce worth $5,438,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Barclays PLC raised its stake 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 worth $2,087,000 after purchasing an additional 45,952 shares during the last quarter. JPMorgan Chase & Co. raised its position in 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 buying an additional 88,900 shares during the last quarter. Empowered Funds LLC lifted its stake in Fresh Del Monte Produce by 5.1% during the 4th 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 boosted its holdings in shares of Fresh Del Monte Produce by 253.1% during the 4th 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 last quarter. Finally, CWA Asset Management Group LLC bought a new stake in shares of Fresh Del Monte Produce in the fourth quarter worth approximately $625,000. 64.83% of the stock is currently owned by hedge funds and other institutional investors.

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 Stock Performance

FDP stock opened at $33.03 on Thursday. 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 1 year low of $21.23 and a 1 year high of $35.27. The company has a market cap of $1.58 billion, a P/E ratio of 100.08 and a beta of 0.36. The stock's fifty day moving average price is $31.37 and its 200-day moving average price is $31.84.

Fresh Del Monte Produce (NYSE:FDP - Get Free Report) last announced its earnings results 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. Fresh Del Monte Produce had a return on equity of 5.91% and a net margin of 0.36%. The business had revenue of $1.10 billion for the quarter, compared to analysts' expectations of $1.12 billion. During the same period last year, the firm posted $0.34 earnings per share. The business's revenue for the quarter was down .9% on a year-over-year basis.

Fresh Del Monte Produce Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Stockholders 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 dividend yield of 3.63%. The ex-dividend date of this dividend is Wednesday, May 14th. Fresh Del Monte Produce's dividend payout ratio is presently 39.22%.

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

Insider Activity

In other Fresh Del Monte Produce news, SVP Marissa R. Tenazas sold 1,148 shares of the business's stock in a transaction dated 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 sale, the senior vice president now 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 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 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 completion of the transaction, the senior vice president now directly owns 11,498 shares in the company, valued at $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 in the last 90 days. Company insiders own 30.10% of the company's stock.

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.

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