Royce & Associates LP Trims Stock Position in Fresh Del Monte Produce Inc. (NYSE:FDP)

Royce & Associates LP lowered its position in shares of Fresh Del Monte Produce Inc. (NYSE:FDP) by 5.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,406 shares of the company’s stock after selling 384 shares during the period. Royce & Associates LP’s holdings in Fresh Del Monte Produce were worth $213,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of FDP. Sherman Asset Management Inc. purchased a new position in Fresh Del Monte Produce during the fourth quarter valued at approximately $54,000. HHM Wealth Advisors LLC grew its stake in Fresh Del Monte Produce by 75.0% in the 4th quarter. HHM Wealth Advisors LLC now owns 1,750 shares of the company’s stock worth $58,000 after buying an additional 750 shares in the last quarter. KBC Group NV grew its stake in Fresh Del Monte Produce by 65.0% in the 4th quarter. KBC Group NV now owns 2,550 shares of the company’s stock worth $85,000 after buying an additional 1,005 shares in the last quarter. GAMMA Investing LLC grew its stake in Fresh Del Monte Produce by 106.5% in the 4th quarter. GAMMA Investing LLC now owns 7,482 shares of the company’s stock worth $248,000 after buying an additional 3,858 shares in the last quarter. Finally, ClearAlpha Technologies LP purchased a new position in Fresh Del Monte Produce in the 3rd quarter worth approximately $252,000. Hedge funds and other institutional investors own 64.83% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com raised shares of Fresh Del Monte Produce from a “hold” rating to a “buy” rating in a research note on Monday, March 17th.

Fresh Del Monte Produce Price Performance

FDP stock opened at $29.61 on Friday. 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 Inc. has a one year low of $21.23 and a one year high of $35.27. The stock has a market cap of $1.42 billion, a PE ratio of 89.72 and a beta of 0.33. The firm has a 50 day simple moving average of $30.68 and a two-hundred day simple moving average of $31.21.

Fresh Del Monte Produce (NYSE:FDP) last announced its quarterly earnings data 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 analysts’ expectations of $1.14 billion. During the same period last year, the company posted $0.25 EPS. Fresh Del Monte Produce’s revenue for the quarter was up .5% on a year-over-year basis.

Fresh Del Monte Produce Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Monday, March 10th will be paid a $0.30 dividend. This is a boost from Fresh Del Monte Produce’s previous quarterly dividend of $0.25. The ex-dividend date is Monday, March 10th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 4.05%. Fresh Del Monte Produce’s dividend payout ratio is 40.40%.

Fresh Del Monte Produce announced that its Board of Directors has authorized a stock buyback plan on Monday, February 24th that permits the company to buyback $150.00 million in shares. This buyback authorization permits the company to buy up to 10.4% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its stock is undervalued.

Insider Activity

In other Fresh Del Monte Produce news, CFO Monica Vicente sold 2,532 shares of the stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $30.42, for a total transaction of $77,023.44. Following the completion of the sale, the chief financial officer now owns 10,808 shares of the company’s stock, valued at $328,779.36. This represents a 18.98 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Ziad Nabulsi sold 1,725 shares of the stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $30.42, for a total transaction of $52,474.50. Following the sale, the senior vice president now directly owns 11,498 shares of the company’s stock, valued at $349,769.16. The trade was a 13.05 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 9,321 shares of company stock valued at $283,545. Corporate 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.