Amundi Raises Holdings in Fresh Del Monte Produce Inc. (NYSE:FDP)

Amundi grew its position in shares of Fresh Del Monte Produce Inc. (NYSE:FDP - Free Report) by 168.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,216 shares of the company's stock after purchasing an additional 10,172 shares during the period. Amundi's holdings in Fresh Del Monte Produce were worth $504,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Sherman Asset Management Inc. acquired a new position in shares of Fresh Del Monte Produce in the fourth quarter valued at approximately $54,000. HHM Wealth Advisors LLC raised its stake in shares of Fresh Del Monte Produce by 75.0% in the fourth quarter. HHM Wealth Advisors LLC now owns 1,750 shares of the company's stock valued at $58,000 after acquiring an additional 750 shares in the last quarter. KBC Group NV boosted its holdings in Fresh Del Monte Produce by 65.0% in the fourth quarter. KBC Group NV now owns 2,550 shares of the company's stock valued at $85,000 after purchasing an additional 1,005 shares during the period. Royce & Associates LP acquired a new position in Fresh Del Monte Produce during the 3rd quarter worth $201,000. Finally, GAMMA Investing LLC increased its holdings in Fresh Del Monte Produce by 106.5% during the 4th quarter. GAMMA Investing LLC now owns 7,482 shares of the company's stock worth $248,000 after purchasing an additional 3,858 shares during the period. 64.83% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Fresh Del Monte Produce

In other Fresh Del Monte Produce news, COO Mohammed Abbas sold 5,064 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 transaction of $154,046.88. Following the transaction, the chief operating officer now owns 45,560 shares of the company's stock, valued at approximately $1,385,935.20. This trade represents a 10.00 % 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 Ziad Nabulsi sold 1,725 shares of the stock in a transaction that occurred 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 sale, the senior vice president now directly 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. In the last 90 days, insiders have sold 9,321 shares of company stock valued at $283,545. Corporate insiders own 30.10% of the company's stock.

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Wall Street Analyst Weigh In

Separately, StockNews.com upgraded Fresh Del Monte Produce from a "hold" rating to a "buy" rating in a research note on Monday, March 17th.

Fresh Del Monte Produce Stock Down 1.4 %

NYSE FDP traded down $0.42 on Monday, hitting $29.23. 599,981 shares of the stock were exchanged, compared to its average volume of 372,287. Fresh Del Monte Produce Inc. has a fifty-two week low of $21.23 and a fifty-two week high of $35.27. The company has a 50-day moving average price of $30.68 and a 200-day moving average price of $31.22. The company has a quick ratio of 1.04, a current ratio of 2.09 and a debt-to-equity ratio of 0.14. The company has a market cap of $1.40 billion, a PE ratio of 88.59 and a beta of 0.33.

Fresh Del Monte Produce (NYSE:FDP - Get Free Report) last issued its earnings results on Monday, February 24th. The company reported $0.26 EPS for the quarter, missing analysts' consensus estimates of $0.42 by ($0.16). Fresh Del Monte Produce had a return on equity of 5.91% and a net margin of 0.36%. The firm had revenue of $1.01 billion for the quarter, compared to analyst estimates of $1.14 billion. During the same quarter in the previous year, the firm posted $0.25 EPS. The business's revenue for the quarter was up .5% on a year-over-year basis.

Fresh Del Monte Produce announced that its Board of Directors has approved a share repurchase plan on Monday, February 24th that allows the company to repurchase $150.00 million in shares. This repurchase authorization allows the company to repurchase up to 10.4% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company's board believes its shares are undervalued.

Fresh Del Monte Produce Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Monday, March 10th will be issued a $0.30 dividend. The ex-dividend date is Monday, March 10th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 4.10%. This is an increase from Fresh Del Monte Produce's previous quarterly dividend of $0.25. Fresh Del Monte Produce's dividend payout ratio is presently 40.40%.

Fresh Del Monte Produce Company 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.