D.A. Davidson & CO. Cuts Stock Position in Fresh Del Monte Produce Inc. (NYSE:FDP)

D.A. Davidson & CO. lowered its stake in shares of Fresh Del Monte Produce Inc. (NYSE:FDP - Free Report) by 50.6% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 9,764 shares of the company's stock after selling 9,986 shares during the period. D.A. Davidson & CO.'s holdings in Fresh Del Monte Produce were worth $324,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Pacer Advisors Inc. purchased a new position in shares of Fresh Del Monte Produce during the fourth quarter worth $42,522,000. Advisors Preferred LLC purchased a new position in Fresh Del Monte Produce during the 4th quarter valued at about $7,459,000. Ellsworth Advisors LLC acquired a new position in Fresh Del Monte Produce in the 4th quarter valued at about $4,298,000. Dean Investment Associates LLC increased its stake in Fresh Del Monte Produce by 109.2% during the third quarter. Dean Investment Associates LLC now owns 177,101 shares of the company's stock worth $5,232,000 after purchasing an additional 92,438 shares during the period. Finally, JPMorgan Chase & Co. increased its stake in Fresh Del Monte Produce by 25.5% during the third quarter. JPMorgan Chase & Co. now owns 437,998 shares of the company's stock worth $12,938,000 after purchasing an additional 88,900 shares during the period. Institutional investors and hedge funds own 64.83% of the company's stock.

Fresh Del Monte Produce Stock Up 1.2 %

Shares of NYSE FDP traded up $0.37 during midday trading on Friday, hitting $30.51. The company's stock had a trading volume of 611,091 shares, compared to its average volume of 310,420. 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 firm has a market capitalization of $1.46 billion, a price-to-earnings ratio of 92.46 and a beta of 0.39. The business's fifty day simple moving average is $31.37 and its two-hundred day simple moving average is $31.03. Fresh Del Monte Produce Inc. has a 1 year low of $21.23 and a 1 year high of $35.27.

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Fresh Del Monte Produce (NYSE:FDP - Get Free Report) last posted its quarterly earnings results 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 analyst estimates of $1.14 billion. Fresh Del Monte Produce had a return on equity of 5.91% and a net margin of 0.36%. The business's revenue was up .5% on a year-over-year basis. During the same quarter last year, the firm earned $0.25 EPS.

Fresh Del Monte Produce declared that its Board of Directors has approved a share buyback program on Monday, February 24th that authorizes the company to buyback $150.00 million in shares. This buyback authorization authorizes the company to purchase up to 10.4% of its shares through open market purchases. Shares buyback programs are typically an indication that the company's board believes its stock is undervalued.

Fresh Del Monte Produce Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Monday, March 10th will be 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 is Monday, March 10th. This represents a $1.20 annualized dividend and a yield of 3.93%. Fresh Del Monte Produce's dividend payout ratio 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.