Hillsdale Investment Management Inc. Acquires New Holdings in Fresh Del Monte Produce Inc. (NYSE:FDP)

Hillsdale Investment Management Inc. purchased a new position in shares of Fresh Del Monte Produce Inc. (NYSE:FDP - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 123,875 shares of the company's stock, valued at approximately $4,114,000. Hillsdale Investment Management Inc. owned 0.26% of Fresh Del Monte Produce as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also added to or reduced their stakes in the company. Sherman Asset Management Inc. acquired a new position in Fresh Del Monte Produce in the fourth quarter valued at approximately $54,000. Signaturefd LLC grew its position in shares of Fresh Del Monte Produce by 244.3% during the 4th quarter. Signaturefd LLC now owns 1,663 shares of the company's stock valued at $55,000 after acquiring an additional 1,180 shares during the period. HHM Wealth Advisors LLC increased its stake in shares of Fresh Del Monte Produce by 75.0% in the 4th quarter. HHM Wealth Advisors LLC now owns 1,750 shares of the company's stock valued at $58,000 after purchasing an additional 750 shares in the last quarter. KBC Group NV raised its holdings in Fresh Del Monte Produce by 65.0% in the 4th quarter. KBC Group NV now owns 2,550 shares of the company's stock worth $85,000 after purchasing an additional 1,005 shares during the period. Finally, GAMMA Investing LLC boosted its position in Fresh Del Monte Produce by 106.5% during 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 in the last quarter. Hedge funds and other institutional investors own 64.83% of the company's stock.

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Analysts Set New Price Targets

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

Fresh Del Monte Produce Price Performance

FDP traded up $0.86 during midday trading on Thursday, hitting $30.44. 508,465 shares of the company traded hands, compared to its average volume of 280,732. The company has a market capitalization of $1.46 billion, a price-to-earnings ratio of 92.25 and a beta of 0.33. The business has a 50 day simple moving average of $30.56 and a two-hundred day simple moving average of $31.21. The company has a current ratio of 2.09, a quick ratio of 1.04 and a debt-to-equity ratio of 0.14. Fresh Del Monte Produce Inc. has a 52-week low of $21.23 and a 52-week high of $35.27.

Fresh Del Monte Produce (NYSE:FDP - Get Free Report) last posted its quarterly earnings data 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 firm had revenue of $1.01 billion during the quarter, compared to analyst estimates of $1.14 billion. During the same quarter in the previous year, the firm posted $0.25 earnings per share. The company's quarterly revenue was up .5% on a year-over-year basis.

Fresh Del Monte Produce Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Monday, March 10th will be paid a $0.30 dividend. This is an increase from Fresh Del Monte Produce's previous quarterly dividend of $0.25. This represents a $1.20 annualized dividend and a yield of 3.94%. The ex-dividend date of this dividend is Monday, March 10th. Fresh Del Monte Produce's dividend payout ratio is currently 40.40%.

Fresh Del Monte Produce declared that its board has authorized a stock repurchase plan on Monday, February 24th that permits the company to repurchase $150.00 million in outstanding shares. This repurchase authorization permits the company to purchase up to 10.4% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's board of directors believes its stock is undervalued.

Insider Activity at Fresh Del Monte Produce

In other Fresh Del Monte Produce news, CFO Monica Vicente sold 2,532 shares of the firm's stock in a transaction 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 of the company's stock, valued at $328,779.36. This trade represents a 18.98 % decrease in their position. The sale 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 business's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $30.42, for a total transaction of $52,474.50. Following the transaction, the senior vice president now directly 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. 30.10% of the stock is owned by insiders.

About Fresh Del Monte Produce

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.