Royce & Associates LP Sells 384 Shares of Fresh Del Monte Produce Inc. (NYSE:FDP)

Royce & Associates LP cut its stake in Fresh Del Monte Produce Inc. (NYSE:FDP) by 5.7% in the 4th quarter, according to its most recent 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 quarter. Royce & Associates LP’s holdings in Fresh Del Monte Produce were worth $213,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Sherman Asset Management Inc. bought a new position in Fresh Del Monte Produce in the 4th quarter worth $54,000. HHM Wealth Advisors LLC raised its holdings 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 purchasing an additional 750 shares in the last quarter. KBC Group NV raised its holdings 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 purchasing an additional 1,005 shares in the last quarter. GAMMA Investing LLC raised its holdings 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 purchasing an additional 3,858 shares in the last quarter. Finally, Ballentine Partners LLC bought a new position in Fresh Del Monte Produce in the 4th quarter worth $253,000. 64.83% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

Fresh Del Monte Produce Stock Down 1.1 %

Shares of Fresh Del Monte Produce 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. The company has a 50-day moving average of $30.68 and a 200 day moving average of $31.21. The firm has a market cap of $1.42 billion, a price-to-earnings ratio of 89.72 and a beta of 0.33. Fresh Del Monte Produce Inc. has a 1 year low of $21.23 and a 1 year high of $35.27.

Fresh Del Monte Produce (NYSE:FDP) last issued its quarterly earnings results on Monday, February 24th. The company reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.42 by ($0.16). The business had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $1.14 billion. Fresh Del Monte Produce had a return on equity of 5.91% and a net margin of 0.36%. The firm’s revenue was up .5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.25 earnings per share.

Fresh Del Monte Produce Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Monday, March 10th will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 4.05%. 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 dividend payout ratio (DPR) is presently 40.40%.

Fresh Del Monte Produce announced that its board has authorized a share repurchase plan on Monday, February 24th that permits the company to buyback $150.00 million in shares. This buyback authorization permits the company to purchase up to 10.4% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its shares are undervalued.

Insider Buying and Selling

In related news, SVP Ziad Nabulsi sold 1,725 shares of the 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 completion of the transaction, the senior vice president now directly owns 11,498 shares in the company, valued at $349,769.16. This trade represents a 13.05 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Mohammed Abbas sold 5,064 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 transaction of $154,046.88. Following the sale, the chief operating officer now owns 45,560 shares of the company’s stock, valued at approximately $1,385,935.20. This represents a 10.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 9,321 shares of company stock worth $283,545 in the last three months. 30.10% of the stock is owned by corporate insiders.

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.