Signaturefd LLC Grows Stake in Fresh Del Monte Produce Inc. (NYSE:FDP)

Signaturefd LLC lifted its stake in Fresh Del Monte Produce Inc. (NYSE:FDP) by 244.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,663 shares of the company’s stock after purchasing an additional 1,180 shares during the quarter. Signaturefd LLC’s holdings in Fresh Del Monte Produce were worth $55,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. raised its holdings in Fresh Del Monte Produce by 5.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,060,576 shares of the company’s stock worth $31,329,000 after buying an additional 59,521 shares during the last quarter. Barclays PLC increased its position in shares of Fresh Del Monte Produce by 185.7% during the third quarter. Barclays PLC now owns 70,694 shares of the company’s stock valued at $2,087,000 after acquiring an additional 45,952 shares in the last quarter. JPMorgan Chase & Co. lifted its position in Fresh Del Monte Produce by 25.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 437,998 shares of the company’s stock valued at $12,938,000 after acquiring an additional 88,900 shares in the last quarter. Empowered Funds LLC boosted its stake in Fresh Del Monte Produce by 5.1% during the 4th quarter. Empowered Funds LLC now owns 262,063 shares of the company’s stock valued at $8,703,000 after purchasing an additional 12,723 shares during the last quarter. Finally, CWA Asset Management Group LLC bought a new stake in shares of Fresh Del Monte Produce in the 4th quarter worth $625,000. Institutional investors own 64.83% of the company’s stock.

Fresh Del Monte Produce Stock Performance

Shares of FDP stock opened at $29.23 on Tuesday. 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 company has a 50 day moving average price of $30.64 and a 200-day moving average price of $31.22. Fresh Del Monte Produce Inc. has a 52 week low of $21.23 and a 52 week high of $35.27. The firm has a market capitalization of $1.40 billion, a PE ratio of 88.59 and a beta of 0.33.

Fresh Del Monte Produce (NYSE:FDP) last announced its earnings results on Monday, February 24th. The company reported $0.26 earnings per share for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.16). The company 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%. Fresh Del Monte Produce’s quarterly revenue was up .5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.25 earnings per share.

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 given a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 4.10%. This is a boost from Fresh Del Monte Produce’s previous quarterly dividend of $0.25. The ex-dividend date is Monday, March 10th. Fresh Del Monte Produce’s dividend payout ratio (DPR) is presently 40.40%.

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

Wall Street Analyst Weigh In

Separately, StockNews.com cut Fresh Del Monte Produce from a “buy” rating to a “hold” rating in a research report on Tuesday.

Insider Activity

In other Fresh Del Monte Produce news, COO Mohammed Abbas sold 5,064 shares of the company’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $30.42, for a total value of $154,046.88. Following the completion of the sale, the chief operating officer now owns 45,560 shares in the company, valued at $1,385,935.20. This represents a 10.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 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 value of $52,474.50. Following the transaction, the senior vice president now directly owns 11,498 shares in the company, valued at approximately $349,769.16. The trade was a 13.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 9,321 shares of company stock valued at $283,545 in the last quarter. 30.10% of the stock is currently owned by insiders.

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.