Brandywine Global Investment Management LLC Purchases 16,558 Shares of Fresh Del Monte Produce Inc. (NYSE:FDP)

Brandywine Global Investment Management LLC increased its stake in shares of Fresh Del Monte Produce Inc. (NYSE:FDP - Free Report) by 11.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 162,629 shares of the company's stock after purchasing an additional 16,558 shares during the quarter. Brandywine Global Investment Management LLC owned approximately 0.34% of Fresh Del Monte Produce worth $5,401,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Sherman Asset Management Inc. bought a new stake in shares of Fresh Del Monte Produce in the 4th quarter valued at approximately $54,000. Signaturefd LLC grew its position in Fresh Del Monte Produce by 244.3% in the fourth quarter. Signaturefd LLC now owns 1,663 shares of the company's stock worth $55,000 after acquiring an additional 1,180 shares in the last quarter. HHM Wealth Advisors LLC increased its stake in shares of Fresh Del Monte Produce by 75.0% during the 4th quarter. HHM Wealth Advisors LLC now owns 1,750 shares of the company's stock worth $58,000 after purchasing an additional 750 shares during the last quarter. KBC Group NV raised its holdings in shares of Fresh Del Monte Produce by 65.0% during the 4th 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 in the last quarter. Finally, GAMMA Investing LLC raised its holdings in shares of Fresh Del Monte Produce by 106.5% during the 4th quarter. GAMMA Investing LLC now owns 7,482 shares of the company's stock valued at $248,000 after purchasing an additional 3,858 shares in the last quarter. 64.83% of the stock is owned by hedge funds and other institutional investors.

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Insider Activity

In other news, SVP Marissa R. Tenazas sold 1,148 shares of the firm's stock in a transaction dated 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 transaction, the senior vice president now directly 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Monica Vicente sold 2,532 shares of Fresh Del Monte Produce stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $30.42, for a total transaction of $77,023.44. Following the sale, the chief financial officer now owns 10,808 shares in the company, valued at approximately $328,779.36. This trade represents a 18.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 10,469 shares of company stock valued at $319,190. Insiders own 30.10% of the company's stock.

Analyst Upgrades and Downgrades

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

Fresh Del Monte Produce Stock Performance

FDP traded down $0.82 on Friday, hitting $30.57. The company had a trading volume of 478,084 shares, compared to its average volume of 298,657. The stock has a market cap of $1.47 billion, a price-to-earnings ratio of 92.64 and a beta of 0.36. 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's fifty day moving average price is $30.48 and its 200 day moving average price is $31.33. Fresh Del Monte Produce Inc. has a 1-year low of $21.23 and a 1-year high of $35.27.

Fresh Del Monte Produce (NYSE:FDP - Get Free Report) last issued its quarterly earnings results on Monday, February 24th. The company reported $0.26 earnings per share (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 analyst estimates 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 prior year, the business posted $0.25 earnings per share.

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

Fresh Del Monte Produce Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Monday, March 10th were issued a dividend of $0.30 per share. This is an increase from Fresh Del Monte Produce's previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Monday, March 10th. This represents a $1.20 annualized dividend and a dividend yield of 3.93%. Fresh Del Monte Produce's payout ratio is presently 40.40%.

Fresh Del Monte Produce 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.