Fresh Del Monte Produce Inc. (NYSE:FDP) Shares Sold by IQ EQ FUND MANAGEMENT IRELAND Ltd

IQ EQ FUND MANAGEMENT IRELAND Ltd cut its holdings in shares of Fresh Del Monte Produce Inc. (NYSE:FDP - Free Report) by 12.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 66,875 shares of the company's stock after selling 9,459 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd owned 0.14% of Fresh Del Monte Produce worth $2,221,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of FDP. Vanguard Group Inc. grew its position in 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 worth $159,722,000 after purchasing an additional 133,122 shares during the last quarter. LPL Financial LLC acquired a new position in shares of Fresh Del Monte Produce in the fourth quarter valued at approximately $434,000. KLP Kapitalforvaltning AS purchased a new stake in shares of Fresh Del Monte Produce during the fourth quarter worth approximately $1,099,000. Hillsdale Investment Management Inc. purchased a new position in Fresh Del Monte Produce in the 4th quarter valued at $4,114,000. Finally, American Century Companies Inc. raised its position in Fresh Del Monte Produce by 22.0% during the 4th quarter. American Century Companies Inc. now owns 950,108 shares of the company's stock worth $31,553,000 after buying an additional 171,574 shares during the last quarter. 64.83% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered shares of Fresh Del Monte Produce from a "buy" rating to a "hold" rating in a research note on Tuesday, March 25th.

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Insiders Place Their Bets

In related news, SVP Ziad Nabulsi sold 1,725 shares of Fresh Del Monte Produce stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $30.42, for a total transaction of $52,474.50. Following the completion of the transaction, the senior vice president now directly owns 11,498 shares in the company, valued at $349,769.16. The trade was a 13.05 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Monica Vicente sold 2,532 shares of the stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $30.42, for a total value of $77,023.44. Following the sale, the chief financial officer now owns 10,808 shares in the company, valued at approximately $328,779.36. This trade represents a 18.98 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 9,321 shares of company stock worth $283,545. 30.10% of the stock is owned by corporate insiders.

Fresh Del Monte Produce Price Performance

Shares of FDP traded up $0.48 during mid-day trading on Monday, hitting $30.87. The company's stock had a trading volume of 69,955 shares, compared to its average volume of 293,895. The firm has a 50-day simple moving average of $30.51 and a 200 day simple moving average of $31.26. Fresh Del Monte Produce Inc. has a 1-year low of $21.23 and a 1-year high of $35.27. The firm has a market capitalization of $1.48 billion, a P/E ratio of 93.51 and a beta of 0.33. 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 (NYSE:FDP - Get Free Report) last posted its quarterly 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 company had revenue of $1.01 billion for 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 for the quarter was up .5% compared to the same quarter last year. During the same period last year, the company earned $0.25 earnings per share.

Fresh Del Monte Produce Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Monday, March 10th were issued a dividend of $0.30 per share. The ex-dividend date of this dividend was Monday, March 10th. This is a boost from Fresh Del Monte Produce's previous quarterly dividend of $0.25. This represents a $1.20 annualized dividend and a yield of 3.89%. Fresh Del Monte Produce's payout ratio is currently 40.40%.

Fresh Del Monte Produce announced that its board has approved a share repurchase plan on Monday, February 24th that authorizes the company to buyback $150.00 million in outstanding shares. This buyback authorization authorizes the company to buy up to 10.4% of its shares through open market purchases. Shares buyback plans are typically an indication that the company's leadership believes its shares are undervalued.

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.