Hillsdale Investment Management Inc. Takes Position in Fresh Del Monte Produce Inc. (NYSE:FDP)

Hillsdale Investment Management Inc. bought a new position in Fresh Del Monte Produce Inc. (NYSE:FDP) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 123,875 shares of the company’s stock, valued at approximately $4,114,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in FDP. State Street Corp lifted its stake in shares of Fresh Del Monte Produce by 1.2% during the third quarter. State Street Corp now owns 1,306,527 shares of the company’s stock worth $38,595,000 after purchasing an additional 15,278 shares in the last quarter. Pacer Advisors Inc. acquired a new position in shares of Fresh Del Monte Produce during the fourth quarter worth $42,522,000. Charles Schwab Investment Management Inc. boosted its stake in shares of Fresh Del Monte Produce by 4.2% in 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 purchasing an additional 44,777 shares during the period. American Century Companies Inc. grew its holdings in Fresh Del Monte Produce by 22.0% during the 4th quarter. American Century Companies Inc. now owns 950,108 shares of the company’s stock valued at $31,553,000 after purchasing an additional 171,574 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in Fresh Del Monte Produce by 0.4% in the 3rd quarter. Geode Capital Management LLC now owns 773,116 shares of the company’s stock worth $22,842,000 after buying an additional 2,767 shares in the last quarter. Institutional investors and hedge funds own 64.83% of the company’s stock.

Wall Street Analyst Weigh In

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

Insider Buying and Selling

In other news, CFO Monica Vicente sold 2,532 shares of the firm’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $30.42, for a total value of $77,023.44. Following the transaction, the chief financial officer now directly owns 10,808 shares in the company, valued at approximately $328,779.36. This trade represents a 18.98 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Ziad Nabulsi sold 1,725 shares of Fresh Del Monte Produce stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $30.42, for a total transaction of $52,474.50. Following the completion of the transaction, the senior vice president now directly owns 11,498 shares of the company’s stock, valued at $349,769.16. This trade represents a 13.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 9,321 shares of company stock worth $283,545 over the last ninety days. 30.10% of the stock is owned by insiders.

Fresh Del Monte Produce Stock Performance

Fresh Del Monte Produce stock opened at $29.61 on Friday. Fresh Del Monte Produce Inc. has a 52 week low of $21.23 and a 52 week high of $35.27. The company has a current ratio of 2.09, a quick ratio of 1.04 and a debt-to-equity ratio of 0.14. The stock has a market cap of $1.42 billion, a P/E ratio of 89.72 and a beta of 0.33. The stock has a 50 day moving average of $30.68 and a 200-day moving average of $31.22.

Fresh Del Monte Produce (NYSE:FDP) last announced its quarterly earnings data on Monday, February 24th. The company reported $0.26 earnings per share for the quarter, missing the consensus estimate 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 firm 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 firm’s quarterly revenue was up .5% compared to the same quarter last year.

Fresh Del Monte Produce Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Monday, March 10th will be given a dividend of $0.30 per share. This is a positive change from Fresh Del Monte Produce’s previous quarterly dividend of $0.25. This represents a $1.20 annualized dividend and a dividend yield of 4.05%. The ex-dividend date of this dividend is Monday, March 10th. Fresh Del Monte Produce’s dividend payout ratio is currently 40.40%.

Fresh Del Monte Produce announced that its Board of Directors has authorized a share repurchase 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 stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its shares are undervalued.

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.