Proficio Capital Partners LLC Makes New $909,000 Investment in Fresh Del Monte Produce Inc. (NYSE:FDP)

Proficio Capital Partners LLC acquired a new stake in shares of Fresh Del Monte Produce Inc. (NYSE:FDP - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm acquired 27,365 shares of the company's stock, valued at approximately $909,000. Proficio Capital Partners LLC owned 0.06% of Fresh Del Monte Produce at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Charles Schwab Investment Management Inc. boosted its stake in Fresh Del Monte Produce by 5.9% in the 3rd 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 worth $2,087,000 after buying an additional 45,952 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Fresh Del Monte Produce by 25.5% during the third quarter. JPMorgan Chase & Co. now owns 437,998 shares of the company's stock worth $12,938,000 after acquiring an additional 88,900 shares during the last quarter. Chesapeake Capital Corp IL purchased a new position in Fresh Del Monte Produce during the third quarter valued at $592,000. Finally, Empowered Funds LLC increased its holdings in Fresh Del Monte Produce by 5.1% in the 4th quarter. Empowered Funds LLC now owns 262,063 shares of the company's stock valued at $8,703,000 after acquiring an additional 12,723 shares during the last quarter. 64.83% of the stock is currently owned by institutional investors.

Remove Ads

Analyst Ratings Changes

Separately, StockNews.com downgraded shares of Fresh Del Monte Produce from a "buy" rating to a "hold" rating in a report on Friday, March 7th.

Fresh Del Monte Produce Price Performance

NYSE FDP traded up $0.18 during trading on Wednesday, hitting $30.16. 285,414 shares of the stock traded hands, compared to its average volume of 336,657. The company has a quick ratio of 1.04, a current ratio of 2.09 and a debt-to-equity ratio of 0.14. Fresh Del Monte Produce Inc. has a 12-month low of $21.23 and a 12-month high of $35.27. The firm has a 50-day simple moving average of $30.96 and a 200-day simple moving average of $31.18. The company has a market capitalization of $1.45 billion, a P/E ratio of 91.38 and a beta of 0.33.

Fresh Del Monte Produce (NYSE:FDP - Get Free Report) last posted its 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 business had revenue of $1.01 billion during the quarter, compared to analysts' expectations of $1.14 billion. Fresh Del Monte Produce had a net margin of 0.36% and a return on equity of 5.91%. The company's revenue for the quarter was up .5% compared to the same quarter last year. During the same period last year, the business posted $0.25 earnings per share.

Fresh Del Monte Produce Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Monday, March 10th will be issued a $0.30 dividend. The ex-dividend date of this dividend is Monday, March 10th. This is an increase 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 3.98%. Fresh Del Monte Produce's payout ratio is 40.40%.

Fresh Del Monte Produce declared that its board has authorized a share buyback plan on Monday, February 24th that permits the company to buyback $150.00 million in outstanding shares. This buyback authorization permits the company to buy up to 10.4% of its stock through open market purchases. Stock buyback plans are usually a sign that the company's leadership believes its stock is undervalued.

Insider Activity

In other Fresh Del Monte Produce news, COO Mohammed Abbas sold 5,064 shares of the business'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 sale, the chief operating officer now directly owns 45,560 shares of the company's stock, valued at $1,385,935.20. The trade was a 10.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Monica Vicente sold 2,532 shares of the company's stock in a transaction that occurred 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 ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 9,321 shares of company stock worth $283,545. 30.10% of the stock is currently owned by corporate insiders.

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.