Martingale Asset Management L P Acquires 14,808 Shares of Fresh Del Monte Produce Inc. (NYSE:FDP)

Martingale Asset Management L P raised its holdings in Fresh Del Monte Produce Inc. (NYSE:FDP - Free Report) by 22.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 82,148 shares of the company's stock after purchasing an additional 14,808 shares during the period. Martingale Asset Management L P owned 0.17% of Fresh Del Monte Produce worth $2,728,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of FDP. Pacer Advisors Inc. bought a new position in shares of Fresh Del Monte Produce in the fourth quarter worth $42,522,000. Advisors Preferred LLC bought a new stake in shares of Fresh Del Monte Produce during the fourth quarter valued at about $7,459,000. American Century Companies Inc. increased its position in shares of Fresh Del Monte Produce by 22.0% during the fourth quarter. American Century Companies Inc. now owns 950,108 shares of the company's stock valued at $31,553,000 after buying an additional 171,574 shares during the period. Invesco Ltd. lifted its stake in Fresh Del Monte Produce by 21.7% in the 4th quarter. Invesco Ltd. now owns 919,612 shares of the company's stock worth $30,540,000 after purchasing an additional 164,120 shares in the last quarter. Finally, Vanguard Group Inc. grew its position in shares of Fresh Del Monte Produce by 2.8% during the 4th quarter. Vanguard Group Inc. now owns 4,809,451 shares of the company's stock valued at $159,722,000 after purchasing an additional 133,122 shares in the last quarter. Institutional investors own 64.83% of the company's stock.

Fresh Del Monte Produce Price Performance

FDP traded down $0.23 on Tuesday, reaching $31.25. The company had a trading volume of 134,422 shares, compared to its average volume of 302,746. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.04 and a current ratio of 2.09. Fresh Del Monte Produce Inc. has a 52-week low of $21.23 and a 52-week high of $35.27. The company has a market cap of $1.50 billion, a price-to-earnings ratio of 94.71 and a beta of 0.36. The business has a 50 day simple moving average of $30.37 and a 200 day simple moving average of $31.38.

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Fresh Del Monte Produce (NYSE:FDP - Get Free Report) last announced its 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). Fresh Del Monte Produce had a return on equity of 5.91% and a net margin of 0.36%. The company had revenue of $1.01 billion during the quarter, compared to analysts' expectations of $1.14 billion. During the same quarter last year, the firm posted $0.25 earnings per share. The firm's revenue was up .5% on a year-over-year basis.

Fresh Del Monte Produce Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Monday, March 10th were given a $0.30 dividend. This is an increase from Fresh Del Monte Produce's previous quarterly dividend of $0.25. The ex-dividend date was Monday, March 10th. This represents a $1.20 dividend on an annualized basis and a yield of 3.84%. Fresh Del Monte Produce's payout ratio is presently 40.40%.

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

Analyst Ratings Changes

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

Insider Activity

In related news, SVP Marissa R. Tenazas sold 1,148 shares of Fresh Del Monte Produce stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $31.05, for a total value of $35,645.40. Following the transaction, the senior vice president now directly owns 3,573 shares of the company's stock, valued at $110,941.65. The trade was a 24.32 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Ziad Nabulsi sold 1,725 shares of the company's stock in a transaction that occurred 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 transaction, the senior vice president now directly owns 11,498 shares of the company's stock, valued at $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 90 days, insiders sold 10,469 shares of company stock valued at $319,190. Corporate insiders own 30.10% of the company's stock.

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.