KLP Kapitalforvaltning AS Buys Shares of 33,100 Fresh Del Monte Produce Inc. (NYSE:FDP)

KLP Kapitalforvaltning AS purchased a new position in Fresh Del Monte Produce Inc. (NYSE:FDP - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 33,100 shares of the company's stock, valued at approximately $1,099,000. KLP Kapitalforvaltning AS owned approximately 0.07% of Fresh Del Monte Produce as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of the business. Charles Schwab Investment Management Inc. lifted its position in Fresh Del Monte Produce by 5.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,060,576 shares of the company's stock worth $31,329,000 after purchasing an additional 59,521 shares during the period. Barclays PLC lifted its holdings in shares of Fresh Del Monte Produce by 185.7% in 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. JPMorgan Chase & Co. boosted its stake in Fresh Del Monte Produce by 25.5% during the third quarter. JPMorgan Chase & Co. now owns 437,998 shares of the company's stock valued at $12,938,000 after buying an additional 88,900 shares in the last quarter. Empowered Funds LLC grew its holdings in Fresh Del Monte Produce by 5.1% during the fourth quarter. Empowered Funds LLC now owns 262,063 shares of the company's stock worth $8,703,000 after acquiring an additional 12,723 shares during the period. Finally, CWA Asset Management Group LLC bought a new stake in Fresh Del Monte Produce in the fourth quarter worth about $625,000. 64.83% of the stock is owned by institutional investors and hedge funds.

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Insider Transactions at Fresh Del Monte Produce

In other news, SVP Ziad Nabulsi sold 1,725 shares of Fresh Del Monte Produce stock in a transaction 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 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 sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Monica Vicente sold 2,532 shares of the stock in a transaction dated 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 approximately $328,779.36. This represents a 18.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 9,321 shares of company stock valued at $283,545 over the last ninety days. Corporate insiders own 30.10% of the company's stock.

Fresh Del Monte Produce Price Performance

Shares of NYSE FDP traded up $0.06 during trading on Wednesday, hitting $31.13. The company had a trading volume of 236,536 shares, compared to its average volume of 368,885. Fresh Del Monte Produce Inc. has a 52 week low of $21.23 and a 52 week high of $35.27. The business's 50-day moving average is $30.48 and its 200 day moving average is $31.29. The company has a market cap of $1.49 billion, a P/E ratio of 94.34 and a beta of 0.33. 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 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 return on equity of 5.91% and a net margin of 0.36%. The company had revenue of $1.01 billion for the quarter, compared to analyst estimates of $1.14 billion. During the same period last year, the firm earned $0.25 earnings per share. The firm's revenue for the quarter was up .5% on a year-over-year basis.

Fresh Del Monte Produce declared that its board has authorized a stock buyback plan on Monday, February 24th that authorizes the company to repurchase $150.00 million in outstanding shares. This repurchase authorization authorizes 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 shares are undervalued.

Fresh Del Monte Produce Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Monday, March 10th were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 3.85%. This is a boost from Fresh Del Monte Produce's previous quarterly dividend of $0.25. The ex-dividend date was Monday, March 10th. Fresh Del Monte Produce's dividend payout ratio (DPR) is presently 40.40%.

Analysts Set New Price Targets

Separately, StockNews.com lowered shares of 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.