Fresh Del Monte Produce Inc. (NYSE:FDP) Shares Bought by Bank of New York Mellon Corp

Bank of New York Mellon Corp increased its position in shares of Fresh Del Monte Produce Inc. (NYSE:FDP - Free Report) by 10.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 271,318 shares of the company's stock after buying an additional 26,423 shares during the period. Bank of New York Mellon Corp owned about 0.57% of Fresh Del Monte Produce worth $9,010,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Outfitter Financial LLC purchased a new position in shares of Fresh Del Monte Produce during the fourth quarter valued at $733,000. Waterfront Wealth Inc. boosted its position in Fresh Del Monte Produce by 2.4% during the fourth quarter. Waterfront Wealth Inc. now owns 22,592 shares of the company's stock valued at $750,000 after purchasing an additional 526 shares in the last quarter. Principal Financial Group Inc. boosted its position in Fresh Del Monte Produce by 2.9% during the fourth quarter. Principal Financial Group Inc. now owns 162,751 shares of the company's stock valued at $5,405,000 after purchasing an additional 4,542 shares in the last quarter. Rhumbline Advisers boosted its position in Fresh Del Monte Produce by 0.3% during the fourth quarter. Rhumbline Advisers now owns 104,348 shares of the company's stock valued at $3,465,000 after purchasing an additional 320 shares in the last quarter. Finally, Stephens Inc. AR bought a new stake in Fresh Del Monte Produce during the fourth quarter valued at about $467,000. Hedge funds and other institutional investors own 64.83% of the company's stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised Fresh Del Monte Produce from a "hold" rating to a "buy" rating in a report on Monday.

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Fresh Del Monte Produce Stock Performance

Shares of NYSE:FDP traded down $0.39 during trading on Tuesday, hitting $29.89. The stock had a trading volume of 327,790 shares, compared to its average volume of 342,839. Fresh Del Monte Produce Inc. has a 12-month low of $21.23 and a 12-month high of $35.27. The stock has a market capitalization of $1.43 billion, a price-to-earnings ratio of 90.58 and a beta of 0.33. 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 stock has a 50-day simple moving average of $30.76 and a two-hundred day simple moving average of $31.21.

Fresh Del Monte Produce (NYSE:FDP - Get Free Report) last announced its quarterly earnings results on Monday, February 24th. The company reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.42 by ($0.16). The company had revenue of $1.01 billion for 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 business posted $0.25 earnings per share.

Fresh Del Monte Produce Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Monday, March 10th will be given a dividend of $0.30 per share. 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 yield of 4.01%. The ex-dividend date is Monday, March 10th. Fresh Del Monte Produce's dividend payout ratio (DPR) is currently 40.40%.

Fresh Del Monte Produce declared that its board has authorized a share buyback program on Monday, February 24th that authorizes the company to buyback $150.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire 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.

Insider Activity

In other news, COO Mohammed Abbas sold 5,064 shares of the business's 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 $154,046.88. Following the completion of the sale, the chief operating officer now directly owns 45,560 shares in the company, valued at $1,385,935.20. The trade was a 10.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Monica Vicente sold 2,532 shares of Fresh Del Monte Produce 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 $77,023.44. Following the completion of the sale, the chief financial officer now directly owns 10,808 shares in the company, valued at $328,779.36. This represents a 18.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 9,321 shares of company stock worth $283,545 over the last three months. 30.10% of the stock is currently owned by corporate insiders.

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.