MetLife Investment Advisors LLC bought a new stake in shares of Fresh Del Monte Produce (NYSE:FDP) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 15,644 shares of the company’s stock, valued at approximately $746,000.
A number of other hedge funds also recently bought and sold shares of the business. Thomas J. Herzfeld Advisors Inc. grew its holdings in Fresh Del Monte Produce by 17.7% during the 4th quarter. Thomas J. Herzfeld Advisors Inc. now owns 36,500 shares of the company’s stock valued at $1,740,000 after buying an additional 5,500 shares in the last quarter. Vident Investment Advisory LLC grew its holdings in Fresh Del Monte Produce by 9.2% during the 4th quarter. Vident Investment Advisory LLC now owns 55,967 shares of the company’s stock valued at $2,668,000 after buying an additional 4,712 shares in the last quarter. Ellington Management Group LLC purchased a new position in Fresh Del Monte Produce during the 4th quarter valued at about $296,000. Jefferies Group LLC purchased a new position in Fresh Del Monte Produce during the 4th quarter valued at about $609,000. Finally, Kennedy Capital Management Inc. purchased a new position in Fresh Del Monte Produce during the 4th quarter valued at about $2,367,000. 65.93% of the stock is owned by institutional investors and hedge funds.
Separately, TheStreet lowered Fresh Del Monte Produce from a “b-” rating to a “c” rating in a report on Monday, March 26th.
FDP stock opened at $48.87 on Friday. The company has a quick ratio of 1.21, a current ratio of 2.59 and a debt-to-equity ratio of 0.20. The stock has a market cap of $2,357.58, a price-to-earnings ratio of 20.13 and a beta of 0.44. Fresh Del Monte Produce has a twelve month low of $43.02 and a twelve month high of $61.98.
Fresh Del Monte Produce (NYSE:FDP) last posted its earnings results on Tuesday, February 20th. The company reported ($0.08) earnings per share for the quarter. The company had revenue of $953.70 million for the quarter, compared to analysts’ expectations of $925.00 million. Fresh Del Monte Produce had a net margin of 2.96% and a return on equity of 6.70%. The firm’s quarterly revenue was down .1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.26 EPS.
The business also recently announced a quarterly dividend, which will be paid on Friday, June 1st. Shareholders of record on Wednesday, May 9th will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 1.23%. The ex-dividend date is Tuesday, May 8th.
Fresh Del Monte Produce announced that its Board of Directors has initiated a share buyback plan on Wednesday, February 21st that allows the company to buyback $300.00 million in shares. This buyback authorization allows the company to reacquire shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.
In related news, Director Madeleine L. Champion bought 1,000 shares of Fresh Del Monte Produce stock in a transaction on Friday, May 25th. The stock was acquired at an average price of $52.72 per share, with a total value of $52,720.00. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Reyes Jorge Pelaez sold 600 shares of Fresh Del Monte Produce stock in a transaction dated Wednesday, March 7th. The shares were sold at an average price of $47.99, for a total value of $28,794.00. The disclosure for this sale can be found here. Insiders have sold a total of 9,462 shares of company stock valued at $443,983 in the last ninety days. Insiders own 39.00% of the company’s stock.
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About Fresh Del Monte Produce
Fresh Del Monte Produce Inc, through its subsidiaries, produces, markets, and distributes fresh and fresh-cut fruits and vegetables worldwide. It offers fresh produce products consisting of bananas, pineapples, melons, tomatoes, grapes, apples, pears, peaches, plums, nectarines, cherries, citrus, avocados, blueberries, strawberries, and kiwi; various vegetables, including potatoes, onions, bell peppers, and cucumbers; and various other fruits, such as plantains and mangos.
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