Charles Schwab Investment Management Inc. Acquires 44,777 Shares of Fresh Del Monte Produce Inc. (NYSE:FDP)

Charles Schwab Investment Management Inc. boosted its stake in Fresh Del Monte Produce Inc. (NYSE:FDP - Free Report) by 4.2% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,105,353 shares of the company's stock after purchasing an additional 44,777 shares during the quarter. Charles Schwab Investment Management Inc. owned about 2.31% of Fresh Del Monte Produce worth $36,709,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Sherman Asset Management Inc. purchased a new stake in shares of Fresh Del Monte Produce in the fourth quarter worth about $54,000. HHM Wealth Advisors LLC raised its holdings 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 acquiring an additional 750 shares in 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 worth $85,000 after acquiring an additional 1,005 shares in the last quarter. Royce & Associates LP purchased a new position in shares of Fresh Del Monte Produce in the third quarter valued at $201,000. Finally, GAMMA Investing LLC increased its position in Fresh Del Monte Produce by 106.5% in the fourth 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 last quarter. Institutional investors own 64.83% of the company's stock.

Insider Buying and Selling

In related news, CFO Monica Vicente sold 2,532 shares of the business's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $30.42, for a total transaction of $77,023.44. Following the completion of the transaction, the chief financial officer now owns 10,808 shares in the company, valued at $328,779.36. The trade was a 18.98 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Ziad Nabulsi sold 1,725 shares of the stock in a transaction on Monday, March 3rd. The stock was 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 owns 11,498 shares in the company, valued at approximately $349,769.16. The trade was a 13.05 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 9,321 shares of company stock valued at $283,545. Company insiders own 30.10% of the company's stock.

Remove Ads

Wall Street Analyst Weigh In

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

Fresh Del Monte Produce Trading Up 0.9 %

FDP traded up $0.28 on Wednesday, hitting $30.18. The company had a trading volume of 171,488 shares, compared to its average volume of 339,260. Fresh Del Monte Produce Inc. has a 12-month low of $21.23 and a 12-month high of $35.27. 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 business's fifty day simple moving average is $30.73 and its 200 day simple moving average is $31.22. The company has a market cap of $1.45 billion, a PE ratio of 91.44 and a beta of 0.33.

Fresh Del Monte Produce (NYSE:FDP - Get Free Report) last released 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 business's quarterly revenue was up .5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.25 EPS.

Fresh Del Monte Produce declared that its board has approved a stock buyback program on Monday, February 24th that authorizes the company to repurchase $150.00 million in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 10.4% of its shares through open market purchases. Shares repurchase programs are often a sign that the company's board of directors believes its stock is undervalued.

Fresh Del Monte Produce Increases Dividend

The company also recently announced 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. This represents a $1.20 annualized dividend and a dividend yield of 3.98%. The ex-dividend date is 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 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.