Bailard Inc. Grows Stock Position in Fresh Del Monte Produce Inc. (NYSE:FDP)

Bailard Inc. increased its position in shares of Fresh Del Monte Produce Inc. (NYSE:FDP - Free Report) by 100.0% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 21,800 shares of the company's stock after buying an additional 10,900 shares during the quarter. Bailard Inc.'s holdings in Fresh Del Monte Produce were worth $724,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. Sherman Asset Management Inc. purchased a new stake in shares of Fresh Del Monte Produce in the 4th quarter valued at approximately $54,000. Proficio Capital Partners LLC purchased a new stake in Fresh Del Monte Produce in the fourth quarter valued at approximately $909,000. Bank of New York Mellon Corp lifted its stake in Fresh Del Monte Produce by 10.8% during the fourth quarter. Bank of New York Mellon Corp now owns 271,318 shares of the company's stock worth $9,010,000 after purchasing an additional 26,423 shares in the last quarter. Outfitter Financial LLC purchased a new position in shares of Fresh Del Monte Produce during the fourth quarter worth $733,000. Finally, Waterfront Wealth Inc. grew its stake in shares of Fresh Del Monte Produce by 2.4% in the fourth quarter. Waterfront Wealth Inc. now owns 22,592 shares of the company's stock valued at $750,000 after buying an additional 526 shares in the last quarter. 64.83% of the stock is currently owned by institutional investors and hedge funds.

Fresh Del Monte Produce Trading Up 2.4 %

FDP traded up $0.72 during mid-day trading on Friday, hitting $31.23. 426,930 shares of the stock were exchanged, compared to its average volume of 269,655. The firm's fifty day moving average is $31.11 and its two-hundred day moving average is $31.08. 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 $1.50 billion, a PE ratio of 94.64 and a beta of 0.33. The company has a current ratio of 2.09, a quick ratio of 1.04 and a debt-to-equity ratio of 0.14.

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Fresh Del Monte Produce (NYSE:FDP - Get Free Report) last posted its quarterly earnings data on Monday, February 24th. The company reported $0.26 EPS for the quarter, missing the consensus estimate of $0.42 by ($0.16). The business 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 company's revenue for the quarter was up .5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.25 EPS.

Fresh Del Monte Produce Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Monday, March 10th will be paid a $0.30 dividend. This is a boost from Fresh Del Monte Produce's previous quarterly dividend of $0.25. This represents a $1.20 annualized dividend and a dividend yield of 3.84%. The ex-dividend date is Monday, March 10th. 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 outstanding shares. This buyback authorization authorizes the company to buy up to 10.4% of its shares through open market purchases. Shares buyback programs are typically an indication that the company's management believes its shares are undervalued.

Insider Activity at Fresh Del Monte Produce

In other news, SVP Ziad Nabulsi sold 1,725 shares of the firm'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 sale, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Monica Vicente sold 2,532 shares of the company'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 $77,023.44. Following the transaction, the chief financial officer now directly owns 10,808 shares of the company's stock, valued at approximately $328,779.36. This represents a 18.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 9,321 shares of company stock worth $283,545. 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.