Proficio Capital Partners LLC Buys New Holdings in Fresh Del Monte Produce Inc. (NYSE:FDP)

Proficio Capital Partners LLC purchased a new stake in shares of Fresh Del Monte Produce Inc. (NYSE:FDP - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 27,365 shares of the company's stock, valued at approximately $909,000. Proficio Capital Partners LLC owned approximately 0.06% of Fresh Del Monte Produce at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Victory Capital Management Inc. boosted its position in Fresh Del Monte Produce by 9.3% during the 4th quarter. Victory Capital Management Inc. now owns 12,647 shares of the company's stock worth $420,000 after buying an additional 1,076 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of Fresh Del Monte Produce by 4.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,105,353 shares of the company's stock valued at $36,709,000 after acquiring an additional 44,777 shares during the last quarter. Bailard Inc. lifted its holdings in shares of Fresh Del Monte Produce by 100.0% during the fourth quarter. Bailard Inc. now owns 21,800 shares of the company's stock worth $724,000 after purchasing an additional 10,900 shares during the period. Sherman Asset Management Inc. bought a new stake in shares of Fresh Del Monte Produce in the fourth quarter worth $54,000. Finally, Bank of New York Mellon Corp grew its stake in shares of Fresh Del Monte Produce by 10.8% in the fourth quarter. Bank of New York Mellon Corp now owns 271,318 shares of the company's stock worth $9,010,000 after purchasing an additional 26,423 shares during the last quarter. 64.83% of the stock is currently owned by institutional investors.

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Fresh Del Monte Produce Trading Down 0.1 %

Shares of Fresh Del Monte Produce stock traded down $0.03 during midday trading on Tuesday, reaching $29.20. The company had a trading volume of 366,585 shares, compared to its average volume of 278,913. The stock has a fifty day moving average price of $30.64 and a 200 day moving average price of $31.22. Fresh Del Monte Produce Inc. has a fifty-two week low of $21.23 and a fifty-two week high of $35.27. The firm has a market cap of $1.40 billion, a PE ratio of 88.49 and a beta of 0.33. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.09 and a quick ratio of 1.04.

Fresh Del Monte Produce (NYSE:FDP - Get Free Report) last issued 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 return on equity of 5.91% and a net margin of 0.36%. The firm had revenue of $1.01 billion during the quarter, compared to analyst estimates of $1.14 billion. During the same quarter last year, the firm posted $0.25 EPS. The firm's revenue for the quarter was up .5% on a year-over-year basis.

Fresh Del Monte Produce Increases Dividend

The company 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 dividend of $0.30 per share. The ex-dividend date is Monday, March 10th. This represents a $1.20 dividend on an annualized basis and a yield of 4.11%. This is a boost from Fresh Del Monte Produce's previous quarterly dividend of $0.25. Fresh Del Monte Produce's dividend payout ratio is 40.40%.

Fresh Del Monte Produce declared that its Board of Directors has initiated a stock buyback program on Monday, February 24th that authorizes the company to buyback $150.00 million in outstanding shares. This buyback authorization authorizes the company to purchase up to 10.4% of its shares through open market purchases. Shares buyback programs are typically an indication that the company's leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

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

Insiders Place Their Bets

In related news, COO Mohammed Abbas sold 5,064 shares of the firm's 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 $154,046.88. Following the completion of the sale, the chief operating officer now owns 45,560 shares of the company's stock, valued at $1,385,935.20. This trade represents a 10.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, 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 value of $52,474.50. Following the completion of the sale, the senior vice president now owns 11,498 shares of the company's stock, valued at approximately $349,769.16. The trade was a 13.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 9,321 shares of company stock worth $283,545. Company insiders own 30.10% of the company's stock.

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.