Arrowstreet Capital Limited Partnership Reduces Stake in Fresh Del Monte Produce Inc. (NYSE:FDP)

Arrowstreet Capital Limited Partnership lowered its holdings in Fresh Del Monte Produce Inc. (NYSE:FDP - Free Report) by 26.7% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 301,888 shares of the company's stock after selling 109,769 shares during the quarter. Arrowstreet Capital Limited Partnership owned approximately 0.63% of Fresh Del Monte Produce worth $10,026,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Cornercap Investment Counsel Inc. purchased a new stake in Fresh Del Monte Produce in the 4th quarter worth approximately $425,000. Vanguard Group Inc. lifted its stake in shares of Fresh Del Monte Produce by 2.8% in the 4th quarter. Vanguard Group Inc. now owns 4,809,451 shares of the company's stock valued at $159,722,000 after purchasing an additional 133,122 shares during the period. LPL Financial LLC purchased a new position in shares of Fresh Del Monte Produce in the 4th quarter valued at approximately $434,000. KLP Kapitalforvaltning AS purchased a new position in shares of Fresh Del Monte Produce in the 4th quarter valued at approximately $1,099,000. Finally, Hillsdale Investment Management Inc. purchased a new position in shares of Fresh Del Monte Produce in the 4th quarter valued at approximately $4,114,000. Hedge funds and other institutional investors own 64.83% of the company's stock.

Analyst Upgrades and Downgrades

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

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Insiders Place Their Bets

In other Fresh Del Monte Produce news, SVP Marissa R. Tenazas sold 1,148 shares of Fresh Del Monte Produce stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $31.05, for a total value 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. This trade represents a 24.32 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Monica Vicente sold 2,532 shares of Fresh Del Monte Produce stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $30.42, for a total value of $77,023.44. Following the completion of the sale, the chief financial officer now directly owns 10,808 shares of the company's stock, valued at approximately $328,779.36. The trade was a 18.98 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 10,469 shares of company stock valued at $319,190. Corporate insiders own 30.10% of the company's stock.

Fresh Del Monte Produce Stock Down 0.7 %

FDP stock traded down $0.20 on Thursday, reaching $30.37. 33,070 shares of the company traded hands, compared to its average volume of 300,290. Fresh Del Monte Produce Inc. has a one year low of $21.23 and a one year 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 company has a market cap of $1.46 billion, a P/E ratio of 92.03 and a beta of 0.36. The firm has a fifty day simple moving average of $30.36 and a 200-day simple moving average of $31.33.

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

Fresh Del Monte Produce Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Monday, March 10th were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 3.95%. The ex-dividend date was Monday, March 10th. This is a positive change from Fresh Del Monte Produce's previous quarterly dividend of $0.25. Fresh Del Monte Produce's dividend payout ratio (DPR) is 40.40%.

Fresh Del Monte Produce announced that its board has approved a share buyback program on Monday, February 24th that allows the company to repurchase $150.00 million in shares. This repurchase authorization allows the company to buy up to 10.4% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company's management believes its shares are undervalued.

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.