Trexquant Investment LP Decreases Stock Holdings in Fresh Del Monte Produce Inc. (NYSE:FDP)

Trexquant Investment LP decreased its position in shares of Fresh Del Monte Produce Inc. (NYSE:FDP - Free Report) by 84.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,719 shares of the company's stock after selling 53,591 shares during the quarter. Trexquant Investment LP's holdings in Fresh Del Monte Produce were worth $323,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of FDP. HighTower Advisors LLC raised its holdings in Fresh Del Monte Produce by 62.0% during the third quarter. HighTower Advisors LLC now owns 14,707 shares of the company's stock worth $443,000 after purchasing an additional 5,630 shares during the last quarter. State Street Corp raised its stake in shares of Fresh Del Monte Produce by 1.2% during the 3rd quarter. State Street Corp now owns 1,306,527 shares of the company's stock worth $38,595,000 after buying an additional 15,278 shares during the last quarter. Y Intercept Hong Kong Ltd purchased a new stake in shares of Fresh Del Monte Produce in the 3rd quarter worth about $317,000. Barclays PLC boosted its position in shares of 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 buying an additional 45,952 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in Fresh Del Monte Produce by 0.4% in the 3rd quarter. Geode Capital Management LLC now owns 773,116 shares of the company's stock valued at $22,842,000 after acquiring an additional 2,767 shares during the last quarter. Hedge funds and other institutional investors own 64.83% of the company's stock.

Fresh Del Monte Produce Price Performance

FDP stock traded up $0.49 on Friday, reaching $32.27. The company had a trading volume of 630,859 shares, compared to its average volume of 307,668. The company's fifty day moving average is $30.45 and its 200 day moving average is $31.42. The company has a market cap of $1.55 billion, a P/E ratio of 97.79 and a beta of 0.36. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.04 and a current ratio of 2.09. 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 data on Monday, February 24th. The company reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.42 by ($0.16). The company had revenue of $1.01 billion during the quarter, compared to analysts' expectations of $1.14 billion. Fresh Del Monte Produce had a net margin of 0.36% and a return on equity of 5.91%. The firm's revenue was up .5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.25 earnings per share.

Fresh Del Monte Produce Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Monday, March 10th were issued a dividend of $0.30 per share. The ex-dividend date was Monday, March 10th. This is an increase 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 3.72%. Fresh Del Monte Produce's payout ratio is 40.40%.

Fresh Del Monte Produce declared that its Board of Directors has approved a stock repurchase program on Monday, February 24th that authorizes the company to buyback $150.00 million in shares. This buyback authorization authorizes the company to buy up to 10.4% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's board believes its stock is undervalued.

Analyst Ratings Changes

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

Insider Activity

In other news, COO Mohammed Abbas sold 5,064 shares of the firm's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $30.42, for a total transaction of $154,046.88. Following the sale, the chief operating officer now owns 45,560 shares in the company, valued at $1,385,935.20. This trade represents a 10.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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 over the last 90 days. 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.