Allspring Global Investments Holdings LLC Lowers Holdings in Fresh Del Monte Produce Inc. (NYSE:FDP)

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

Several other large investors have also modified their holdings of the stock. Carolina Wealth Advisors LLC increased its position in Fresh Del Monte Produce by 2.6% during the fourth quarter. Carolina Wealth Advisors LLC now owns 19,403 shares of the company’s stock worth $644,000 after purchasing an additional 486 shares during the last quarter. HHM Wealth Advisors LLC grew its stake in shares of Fresh Del Monte Produce by 75.0% during the 4th quarter. HHM Wealth Advisors LLC now owns 1,750 shares of the company’s stock valued at $58,000 after buying an additional 750 shares during the period. KBC Group NV increased its holdings in shares of Fresh Del Monte Produce by 65.0% during the 4th quarter. KBC Group NV now owns 2,550 shares of the company’s stock worth $85,000 after buying an additional 1,005 shares during the last quarter. Exchange Traded Concepts LLC increased its holdings in shares of Fresh Del Monte Produce by 4.3% during the 4th quarter. Exchange Traded Concepts LLC now owns 60,156 shares of the company’s stock worth $1,998,000 after buying an additional 2,466 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Fresh Del Monte Produce by 0.4% in the 3rd quarter. Geode Capital Management LLC now owns 773,116 shares of the company’s stock worth $22,842,000 after buying an additional 2,767 shares during the period. 64.83% of the stock is currently owned by hedge funds and other institutional investors.

Fresh Del Monte Produce Price Performance

FDP stock opened at $30.16 on Wednesday. The stock has a 50-day moving average price of $31.56 and a two-hundred day moving average price of $30.99. The company has a market cap of $1.45 billion, a PE ratio of 91.38 and a beta of 0.39. The company has a current ratio of 2.09, a quick ratio of 1.04 and a debt-to-equity ratio of 0.14. Fresh Del Monte Produce Inc. has a 12-month low of $21.23 and a 12-month high of $35.27.

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). The business had revenue of $1.01 billion for the quarter, compared to analyst estimates 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 for the quarter was up .5% compared to the same quarter last year. During the same period last year, the company posted $0.25 EPS.

Fresh Del Monte Produce Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Monday, March 10th will be issued a dividend of $0.30 per share. 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. This represents a $1.20 annualized dividend and a dividend yield of 3.98%. Fresh Del Monte Produce’s payout ratio is presently 303.03%.

Fresh Del Monte Produce declared that its board has approved a stock repurchase program on Monday, February 24th that authorizes the company to buyback $150.00 million in outstanding shares. This buyback authorization authorizes the company to purchase up to 10.4% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.

About Fresh Del Monte Produce

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.