Nebula Research & Development LLC Sells 13,655 Shares of Fresh Del Monte Produce Inc. (NYSE:FDP)

Nebula Research & Development LLC reduced its stake in Fresh Del Monte Produce Inc. (NYSE:FDP - Free Report) by 29.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 33,095 shares of the company's stock after selling 13,655 shares during the period. Nebula Research & Development LLC owned approximately 0.07% of Fresh Del Monte Produce worth $1,099,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of FDP. Syon Capital LLC acquired a new position in Fresh Del Monte Produce during the fourth quarter worth $218,000. Price T Rowe Associates Inc. MD grew its holdings in shares of Fresh Del Monte Produce by 6.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 36,890 shares of the company's stock worth $1,226,000 after purchasing an additional 2,218 shares during the last quarter. MetLife Investment Management LLC increased its position in shares of Fresh Del Monte Produce by 4.0% during the 4th quarter. MetLife Investment Management LLC now owns 20,684 shares of the company's stock worth $687,000 after purchasing an additional 786 shares in the last quarter. Mariner LLC bought a new position in Fresh Del Monte Produce during the 4th quarter valued at about $269,000. Finally, Sterling Capital Management LLC boosted its position in Fresh Del Monte Produce by 795.0% in the fourth quarter. Sterling Capital Management LLC now owns 1,083 shares of the company's stock valued at $36,000 after buying an additional 962 shares in the last quarter. 64.83% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Fresh Del Monte Produce

In other news, SVP Marissa R. Tenazas sold 1,148 shares of the business's stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $31.05, for a total transaction of $35,645.40. Following the completion of the sale, the senior vice president now owns 3,573 shares in the company, valued at $110,941.65. The trade was a 24.32 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Mohammed Abbas sold 5,064 shares of the company's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $30.42, for a total value of $154,046.88. Following the transaction, the chief operating officer now directly owns 45,560 shares in the company, valued at $1,385,935.20. This trade represents a 10.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 10,469 shares of company stock valued at $319,190 over the last quarter. Corporate insiders own 30.10% of the company's stock.

Analyst Upgrades and Downgrades

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

Fresh Del Monte Produce Trading Down 0.7 %

Shares of FDP opened at $34.45 on Friday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.04 and a current ratio of 2.09. The company has a market cap of $1.65 billion, a price-to-earnings ratio of 104.40 and a beta of 0.36. The stock has a fifty day moving average price of $30.81 and a two-hundred day moving average price of $31.61. 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 released 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 during the quarter, compared to the consensus estimate of $1.14 billion. During the same period in the prior year, the firm earned $0.25 earnings per share. The business's quarterly revenue was up .5% compared to the same quarter last year.

Fresh Del Monte Produce declared that its Board of Directors has authorized a stock buyback plan on Monday, February 24th that allows the company to repurchase $150.00 million in outstanding shares. This repurchase authorization allows the company to purchase up to 10.4% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's board of directors 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 paid a dividend of $0.30 per share. 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 dividend yield of 3.48%. The ex-dividend date was Monday, March 10th. Fresh Del Monte Produce's dividend payout ratio is 40.40%.

Fresh Del Monte Produce Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.