Meeder Asset Management Inc. Takes $174,000 Position in Fresh Del Monte Produce Inc. (NYSE:FDP)

Meeder Asset Management Inc. bought a new position in shares of Fresh Del Monte Produce Inc. (NYSE:FDP) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 5,244 shares of the company’s stock, valued at approximately $174,000.

A number of other institutional investors have also recently bought and sold shares of the company. Pacer Advisors Inc. acquired a new stake in shares of Fresh Del Monte Produce during the fourth quarter worth $42,522,000. Advisors Preferred LLC acquired a new position in Fresh Del Monte Produce during the fourth quarter worth $7,459,000. American Century Companies Inc. raised its holdings in shares of Fresh Del Monte Produce by 22.0% in 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 during the period. Vanguard Group Inc. raised its stake in Fresh Del Monte Produce by 2.8% in the 4th quarter. Vanguard Group Inc. now owns 4,809,451 shares of the company’s stock valued at $159,722,000 after acquiring an additional 133,122 shares during the period. Finally, Ellsworth Advisors LLC bought a new position in Fresh Del Monte Produce during the fourth quarter worth $4,298,000. Institutional investors and hedge funds own 64.83% of the company’s stock.

Fresh Del Monte Produce Price Performance

Shares of NYSE:FDP opened at $30.90 on Tuesday. The company has a market cap of $1.48 billion, a price-to-earnings ratio of 93.64 and a beta of 0.33. Fresh Del Monte Produce Inc. has a one year low of $21.23 and a one 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 firm has a 50 day simple moving average of $30.49 and a 200 day simple moving average of $31.28.

Fresh Del Monte Produce (NYSE:FDP) last posted its quarterly earnings data on Monday, February 24th. The company reported $0.26 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 company had revenue of $1.01 billion during the quarter, compared to analyst estimates of $1.14 billion. During the same period in the prior year, the firm earned $0.25 earnings per share. Fresh Del Monte Produce’s revenue was up .5% compared to the same quarter last year.

Fresh Del Monte Produce Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Monday, March 10th were 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. The ex-dividend date was Monday, March 10th. This represents a $1.20 annualized dividend and a dividend yield of 3.88%. Fresh Del Monte Produce’s dividend payout ratio is presently 40.40%.

Fresh Del Monte Produce declared that its board has initiated a stock repurchase plan on Monday, February 24th that allows the company to repurchase $150.00 million in shares. This repurchase authorization allows the company to repurchase up to 10.4% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered shares of Fresh Del Monte Produce from a “buy” rating to a “hold” rating in a research report on Tuesday, March 25th.

Insiders Place Their Bets

In other Fresh Del Monte Produce news, SVP Ziad Nabulsi sold 1,725 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 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. This trade represents a 13.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Monica Vicente sold 2,532 shares of the company’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $30.42, for a total transaction of $77,023.44. Following the transaction, the chief financial officer now owns 10,808 shares in the company, valued at approximately $328,779.36. The trade was a 18.98 % decrease in their position. 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. Corporate 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.