Fresh Del Monte Produce Inc. (NYSE:FDP) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC reduced its position in shares of Fresh Del Monte Produce Inc. (NYSE:FDP) by 88.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,256 shares of the company’s stock after selling 63,049 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Fresh Del Monte Produce were worth $272,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Pacer Advisors Inc. bought a new stake in Fresh Del Monte Produce during the fourth quarter valued at $42,522,000. Advisors Preferred LLC bought a new stake in shares of Fresh Del Monte Produce during the 4th quarter valued at about $7,459,000. Ellsworth Advisors LLC bought a new stake in shares of Fresh Del Monte Produce during the 4th quarter valued at about $4,298,000. Dean Investment Associates LLC raised its stake in Fresh Del Monte Produce by 109.2% during the third quarter. Dean Investment Associates LLC now owns 177,101 shares of the company’s stock worth $5,232,000 after acquiring an additional 92,438 shares during the period. Finally, JPMorgan Chase & Co. lifted its holdings in Fresh Del Monte Produce by 25.5% in 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. 64.83% of the stock is currently owned by institutional investors.

Fresh Del Monte Produce Stock Performance

Shares of FDP stock opened at $30.16 on Wednesday. The company has a market cap of $1.45 billion, a P/E ratio of 91.38 and a beta of 0.39. 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 quick ratio of 1.04, a current ratio of 2.09 and a debt-to-equity ratio of 0.14. The business has a 50 day moving average of $31.56 and a two-hundred day moving average of $30.99.

Fresh Del Monte Produce (NYSE:FDP) last posted 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). Fresh Del Monte Produce had a net margin of 0.36% and a return on equity of 5.91%. The company had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $1.14 billion. During the same quarter in the previous year, the business posted $0.25 earnings per share. The business’s quarterly revenue was up .5% compared to the same quarter last year.

Fresh Del Monte Produce Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Monday, March 10th will be paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 3.98%. This is a positive change from Fresh Del Monte Produce’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Monday, March 10th. Fresh Del Monte Produce’s payout ratio is presently 303.03%.

Fresh Del Monte Produce announced that its Board of Directors has approved a stock repurchase plan on Monday, February 24th that permits the company to repurchase $150.00 million in outstanding shares. This repurchase authorization permits the company to reacquire up to 10.4% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

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.