Renaissance Technologies LLC Lowers Stock Holdings in Fresh Del Monte Produce Inc. (NYSE:FDP)

Renaissance Technologies LLC cut its position in Fresh Del Monte Produce Inc. (NYSE:FDP - Free Report) by 14.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 210,800 shares of the company's stock after selling 35,400 shares during the period. Renaissance Technologies LLC owned about 0.44% of Fresh Del Monte Produce worth $7,001,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently modified their holdings of FDP. Invesco Ltd. boosted its holdings in shares of Fresh Del Monte Produce by 21.7% in the 4th quarter. Invesco Ltd. now owns 919,612 shares of the company's stock worth $30,540,000 after purchasing an additional 164,120 shares during the period. Bank of Montreal Can raised its holdings in shares of Fresh Del Monte Produce by 7.4% in the fourth quarter. Bank of Montreal Can now owns 9,669 shares of the company's stock valued at $321,000 after acquiring an additional 666 shares in the last quarter. Polymer Capital Management US LLC bought a new position in shares of Fresh Del Monte Produce during the fourth quarter valued at approximately $242,000. Wells Fargo & Company MN increased its holdings in shares of Fresh Del Monte Produce by 36.0% in the 4th quarter. Wells Fargo & Company MN now owns 36,565 shares of the company's stock valued at $1,214,000 after acquiring an additional 9,673 shares during the period. Finally, Geode Capital Management LLC grew its position in shares of Fresh Del Monte Produce by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 776,161 shares of the company's stock worth $25,782,000 after buying an additional 3,045 shares during the last quarter. Hedge funds and other institutional investors own 64.83% of the company's stock.

Analyst Ratings Changes

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

Fresh Del Monte Produce Stock Performance

FDP stock traded up $0.05 during trading on Thursday, hitting $34.33. 100,435 shares of the company traded hands, compared to its average volume of 310,927. Fresh Del Monte Produce Inc. has a 1 year low of $21.23 and a 1 year high of $35.27. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.09 and a quick ratio of 1.04. The company has a market cap of $1.65 billion, a PE ratio of 104.04 and a beta of 0.36. The stock's 50-day simple moving average is $30.64 and its 200 day simple moving average is $31.52.

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). The business had revenue of $1.01 billion for 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 quarterly revenue was up .5% on a year-over-year basis. During the same quarter last year, the business earned $0.25 EPS.

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 dividend of $0.30 per share. The ex-dividend date was Monday, March 10th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.50%. 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 presently 40.40%.

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

Insider Activity

In other news, COO Mohammed Abbas sold 5,064 shares of Fresh Del Monte Produce stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $30.42, for a total transaction of $154,046.88. Following the sale, the chief operating officer now owns 45,560 shares of the company's stock, valued at approximately $1,385,935.20. The trade was a 10.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Marissa R. Tenazas sold 1,148 shares of Fresh Del Monte Produce stock in a transaction on 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 sale, the senior vice president now owns 3,573 shares in the company, valued at $110,941.65. This represents a 24.32 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 10,469 shares of company stock worth $319,190 over the last three months. Insiders own 30.10% of the company's stock.

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.