Fresh Del Monte Produce Inc. (NYSE:FDP) Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. lessened its holdings in shares of Fresh Del Monte Produce Inc. (NYSE:FDP - Free Report) by 6.9% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 407,673 shares of the company's stock after selling 30,325 shares during the quarter. JPMorgan Chase & Co. owned about 0.85% of Fresh Del Monte Produce worth $13,539,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of FDP. HighTower Advisors LLC boosted its stake in Fresh Del Monte Produce by 62.0% in the 3rd quarter. HighTower Advisors LLC now owns 14,707 shares of the company's stock worth $443,000 after purchasing an additional 5,630 shares during the period. State Street Corp grew its stake in Fresh Del Monte Produce by 1.2% during the third quarter. State Street Corp now owns 1,306,527 shares of the company's stock valued at $38,595,000 after acquiring an additional 15,278 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new stake in Fresh Del Monte Produce during the 3rd quarter worth approximately $317,000. Barclays PLC boosted its stake in Fresh Del Monte Produce by 185.7% during the third quarter. Barclays PLC now owns 70,694 shares of the company's stock valued at $2,087,000 after buying an additional 45,952 shares during the period. Finally, Geode Capital Management LLC grew its holdings in shares of Fresh Del Monte Produce by 0.4% during the third quarter. Geode Capital Management LLC now owns 773,116 shares of the company's stock worth $22,842,000 after purchasing an additional 2,767 shares in the last quarter. Hedge funds and other institutional investors own 64.83% of the company's stock.

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Fresh Del Monte Produce Trading Up 1.7 %

Shares of NYSE FDP traded up $0.52 during mid-day trading on Monday, hitting $31.48. The stock had a trading volume of 258,083 shares, compared to its average volume of 302,858. The business has a 50 day moving average price of $30.37 and a two-hundred day moving average price of $31.38. 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 cap of $1.51 billion, a P/E ratio of 95.40 and a beta of 0.36. 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 (NYSE:FDP - Get Free Report) last announced its quarterly earnings results on Monday, February 24th. The company reported $0.26 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.42 by ($0.16). Fresh Del Monte Produce had a net margin of 0.36% and a return on equity of 5.91%. The business had revenue of $1.01 billion for the quarter, compared to analysts' expectations of $1.14 billion. During the same quarter in the prior year, the firm earned $0.25 EPS. The firm's revenue for the quarter was up .5% on a year-over-year basis.

Fresh Del Monte Produce announced that its board has approved a stock repurchase plan on Monday, February 24th that allows the company to repurchase $150.00 million in shares. This repurchase authorization allows the company to buy up to 10.4% of its stock through open market purchases. Stock repurchase plans are generally 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 was paid on Friday, March 28th. Stockholders of record on Monday, March 10th were given a $0.30 dividend. This is a boost from Fresh Del Monte Produce's previous quarterly dividend of $0.25. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.81%. The ex-dividend date was Monday, March 10th. Fresh Del Monte Produce's payout ratio is currently 40.40%.

Insider Buying and Selling

In related news, SVP Marissa R. Tenazas sold 1,148 shares of the stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $31.05, for a total value of $35,645.40. Following the completion of the transaction, the senior vice president now owns 3,573 shares of the company's stock, valued at approximately $110,941.65. This trade represents a 24.32 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Ziad Nabulsi sold 1,725 shares of the firm's stock in a transaction dated 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 sale, the senior vice president now directly owns 11,498 shares of the company's stock, 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. Insiders have sold 10,469 shares of company stock worth $319,190 in the last 90 days. Insiders own 30.10% of the company's stock.

Wall Street Analysts Forecast Growth

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

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.