Cwm LLC Trims Stake in Fresh Del Monte Produce Inc. (NYSE:FDP)

Cwm LLC reduced its position in Fresh Del Monte Produce Inc. (NYSE:FDP) by 7.2% during the fourth quarter, HoldingsChannel.com reports. The firm owned 38,916 shares of the company’s stock after selling 3,041 shares during the period. Cwm LLC’s holdings in Fresh Del Monte Produce were worth $1,022,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in FDP. Exchange Traded Concepts LLC increased its position in shares of Fresh Del Monte Produce by 0.8% during the fourth quarter. Exchange Traded Concepts LLC now owns 48,588 shares of the company’s stock worth $1,275,000 after acquiring an additional 386 shares during the period. Oregon Public Employees Retirement Fund increased its position in shares of Fresh Del Monte Produce by 4.2% during the third quarter. Oregon Public Employees Retirement Fund now owns 9,988 shares of the company’s stock worth $258,000 after acquiring an additional 400 shares during the period. Maryland State Retirement & Pension System increased its position in shares of Fresh Del Monte Produce by 3.7% during the third quarter. Maryland State Retirement & Pension System now owns 12,407 shares of the company’s stock worth $321,000 after acquiring an additional 439 shares during the period. New York State Teachers Retirement System increased its position in shares of Fresh Del Monte Produce by 2.3% during the third quarter. New York State Teachers Retirement System now owns 21,088 shares of the company’s stock worth $545,000 after acquiring an additional 479 shares during the period. Finally, State of Alaska Department of Revenue increased its position in shares of Fresh Del Monte Produce by 3.8% during the third quarter. State of Alaska Department of Revenue now owns 20,971 shares of the company’s stock worth $541,000 after acquiring an additional 758 shares during the period. 64.83% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, TheStreet lowered shares of Fresh Del Monte Produce from a “b-” rating to a “c” rating in a research report on Monday, February 26th.

Insider Activity

In other news, SVP Jesus Rodriguez Calvo sold 2,402 shares of the stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $24.59, for a total transaction of $59,065.18. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Fresh Del Monte Produce news, SVP Jesus Rodriguez Calvo sold 2,402 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $24.59, for a total value of $59,065.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Monica Vicente sold 1,083 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $24.35, for a total transaction of $26,371.05. Following the completion of the sale, the chief financial officer now owns 5,266 shares of the company’s stock, valued at $128,227.10. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 10,569 shares of company stock worth $258,509. Corporate insiders own 29.70% of the company’s stock.

Fresh Del Monte Produce Price Performance

NYSE FDP opened at $25.62 on Monday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.01 and a current ratio of 2.12. The firm’s 50 day moving average price is $24.92 and its 200-day moving average price is $24.79. Fresh Del Monte Produce Inc. has a 52-week low of $21.41 and a 52-week high of $29.13. The company has a market cap of $1.22 billion, a PE ratio of -102.48 and a beta of 0.56.

Fresh Del Monte Produce (NYSE:FDP) last released its quarterly earnings data on Monday, February 26th. The company reported $0.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.06). Fresh Del Monte Produce had a negative net margin of 0.26% and a positive return on equity of 5.11%. The business had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter in the prior year, the business posted $0.45 earnings per share. Fresh Del Monte Produce’s revenue for the quarter was down 3.0% on a year-over-year basis.

Fresh Del Monte Produce Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Thursday, March 7th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Wednesday, March 6th. This is an increase from Fresh Del Monte Produce’s previous quarterly dividend of $0.20. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.90%. Fresh Del Monte Produce’s dividend payout ratio (DPR) is currently -400.00%.

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.