Fresh Del Monte Produce Inc. (NYSE:FDP) Shares Acquired by Wells Fargo & Company MN

Wells Fargo & Company MN boosted its stake in shares of Fresh Del Monte Produce Inc. (NYSE:FDP - Free Report) by 36.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 36,565 shares of the company's stock after purchasing an additional 9,673 shares during the period. Wells Fargo & Company MN owned about 0.08% of Fresh Del Monte Produce worth $1,214,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Geode Capital Management LLC lifted its holdings in shares of Fresh Del Monte Produce by 0.4% during the 4th quarter. Geode Capital Management LLC now owns 776,161 shares of the company's stock valued at $25,782,000 after buying an additional 3,045 shares during the period. Franklin Resources Inc. lifted its holdings in Fresh Del Monte Produce by 60.6% in the fourth quarter. Franklin Resources Inc. now owns 58,962 shares of the company's stock valued at $1,958,000 after acquiring an additional 22,252 shares during the period. Meeder Asset Management Inc. purchased a new position in Fresh Del Monte Produce in the fourth quarter worth about $174,000. Brandywine Global Investment Management LLC lifted its stake in shares of Fresh Del Monte Produce by 11.3% in the 4th quarter. Brandywine Global Investment Management LLC now owns 162,629 shares of the company's stock worth $5,401,000 after purchasing an additional 16,558 shares during the period. Finally, Cornercap Investment Counsel Inc. bought a new position in Fresh Del Monte Produce in the fourth quarter worth approximately $425,000. Hedge funds and other institutional investors own 64.83% of the company's stock.

Fresh Del Monte Produce Price Performance

Shares of FDP stock traded down $0.24 during mid-day trading on Friday, hitting $33.38. The company had a trading volume of 408,413 shares, compared to its average volume of 319,810. The company has a market capitalization of $1.60 billion, a P/E ratio of 101.15 and a beta of 0.36. Fresh Del Monte Produce Inc. has a 52-week low of $21.23 and a 52-week high of $35.27. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.09 and a quick ratio of 1.04. The stock's 50 day moving average price is $31.18 and its 200-day moving average price is $31.78.

Fresh Del Monte Produce (NYSE:FDP - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The company reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.01. The company had revenue of $1.10 billion for the quarter, compared to analysts' expectations of $1.12 billion. Fresh Del Monte Produce had a return on equity of 5.91% and a net margin of 0.36%. The firm's revenue for the quarter was down .9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.34 earnings per share.

Fresh Del Monte Produce Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Wednesday, May 14th will be given a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 3.59%. The ex-dividend date is Wednesday, May 14th. Fresh Del Monte Produce's dividend payout ratio (DPR) is presently 40.40%.

Fresh Del Monte Produce announced that its board has authorized a share repurchase program on Monday, February 24th that authorizes the company to buyback $150.00 million in shares. This buyback authorization authorizes the company to reacquire up to 10.4% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

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

Insiders Place Their Bets

In other news, SVP Marissa R. Tenazas sold 1,148 shares of Fresh Del Monte Produce stock in a transaction that occurred on Wednesday, April 2nd. The shares were 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 legal filing with the SEC, which is accessible through this link. Also, SVP Ziad Nabulsi sold 1,725 shares of the stock in a transaction that occurred on 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 approximately $349,769.16. This trade represents a 13.05 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 10,469 shares of company stock worth $319,190 over the last quarter. Company insiders own 30.10% of the company's stock.

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.