Intech Investment Management LLC Purchases 32,145 Shares of Fresh Del Monte Produce Inc. (NYSE:FDP)

Intech Investment Management LLC boosted its holdings in shares of Fresh Del Monte Produce Inc. (NYSE:FDP - Free Report) by 253.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 44,846 shares of the company's stock after purchasing an additional 32,145 shares during the quarter. Intech Investment Management LLC owned about 0.09% of Fresh Del Monte Produce worth $1,489,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors 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 fourth quarter valued at approximately $54,000. Signaturefd LLC boosted its holdings in Fresh Del Monte Produce by 244.3% in the 4th quarter. Signaturefd LLC now owns 1,663 shares of the company's stock valued at $55,000 after purchasing an additional 1,180 shares during the period. HHM Wealth Advisors LLC grew its position in 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 worth $58,000 after purchasing an additional 750 shares during the last quarter. KBC Group NV lifted its stake in shares of Fresh Del Monte Produce by 65.0% in the fourth quarter. KBC Group NV now owns 2,550 shares of the company's stock valued at $85,000 after buying an additional 1,005 shares during the period. Finally, GAMMA Investing LLC grew 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 buying an additional 3,858 shares in the last quarter. Institutional investors and hedge funds own 64.83% of the company's stock.

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Fresh Del Monte Produce Stock Performance

FDP stock traded up $0.41 during midday trading on Wednesday, hitting $29.61. The stock had a trading volume of 278,801 shares, compared to its average volume of 279,565. 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 current ratio of 2.09, a quick ratio of 1.04 and a debt-to-equity ratio of 0.14. The stock has a 50-day simple moving average of $30.59 and a 200 day simple moving average of $31.22. The firm has a market capitalization of $1.42 billion, a price-to-earnings ratio of 89.72 and a beta of 0.33.

Fresh Del Monte Produce (NYSE:FDP - Get Free Report) last posted its earnings results on Monday, February 24th. The company reported $0.26 earnings per share for the quarter, missing analysts' consensus estimates of $0.42 by ($0.16). The business had revenue of $1.01 billion during the quarter, compared to the consensus estimate 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 revenue was up .5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.25 EPS.

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 given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 4.05%. This is a boost from Fresh Del Monte Produce's previous quarterly dividend of $0.25. The ex-dividend date is Monday, March 10th. Fresh Del Monte Produce's dividend payout ratio is 40.40%.

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

Analyst Ratings Changes

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

Insiders Place Their Bets

In other news, SVP Ziad Nabulsi sold 1,725 shares of Fresh Del Monte Produce 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 completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Mohammed Abbas sold 5,064 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $30.42, for a total value of $154,046.88. Following the sale, the chief operating officer now owns 45,560 shares in the company, valued at approximately $1,385,935.20. This trade represents a 10.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 9,321 shares of company stock worth $283,545 over the last three months. 30.10% of the stock is currently owned by corporate insiders.

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.