Franklin Resources Inc. Grows Stock Position in Fresh Del Monte Produce Inc. (NYSE:FDP)

Franklin Resources Inc. raised its holdings in shares of Fresh Del Monte Produce Inc. (NYSE:FDP) by 60.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 58,962 shares of the company’s stock after acquiring an additional 22,252 shares during the quarter. Franklin Resources Inc. owned approximately 0.12% of Fresh Del Monte Produce worth $1,958,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Barclays PLC increased its stake in shares of Fresh Del Monte Produce by 185.7% during the 3rd quarter. Barclays PLC now owns 70,694 shares of the company’s stock worth $2,087,000 after purchasing an additional 45,952 shares in the last quarter. JPMorgan Chase & Co. increased its position in Fresh Del Monte Produce by 25.5% during the third quarter. JPMorgan Chase & Co. now owns 437,998 shares of the company’s stock worth $12,938,000 after buying an additional 88,900 shares in the last quarter. Empowered Funds LLC raised its holdings in shares of Fresh Del Monte Produce by 5.1% in the fourth quarter. Empowered Funds LLC now owns 262,063 shares of the company’s stock worth $8,703,000 after acquiring an additional 12,723 shares during the last quarter. Intech Investment Management LLC lifted its position in shares of Fresh Del Monte Produce by 253.1% in the fourth quarter. Intech Investment Management LLC now owns 44,846 shares of the company’s stock valued at $1,489,000 after acquiring an additional 32,145 shares in the last quarter. Finally, CWA Asset Management Group LLC acquired a new stake in shares of Fresh Del Monte Produce during the fourth quarter valued at $625,000. Institutional investors and hedge funds own 64.83% of the company’s stock.

Insider Transactions at Fresh Del Monte Produce

In other news, SVP Marissa R. Tenazas sold 1,148 shares of the firm’s stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $31.05, for a total value of $35,645.40. Following the transaction, the senior vice president now directly owns 3,573 shares in the company, valued at $110,941.65. This trade represents a 24.32 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Monica Vicente sold 2,532 shares of the business’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 $77,023.44. Following the sale, the chief financial officer now owns 10,808 shares of the company’s stock, valued at $328,779.36. The trade was a 18.98 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 10,469 shares of company stock worth $319,190 in the last three months. Company insiders own 30.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered shares of Fresh Del Monte Produce from a “buy” rating to a “hold” rating in a report on Tuesday, March 25th.

Fresh Del Monte Produce Stock Up 1.8 %

Shares of NYSE FDP opened at $30.97 on Monday. The firm has a market cap of $1.48 billion, a P/E ratio of 93.85 and a beta of 0.36. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.04 and a current ratio of 2.09. Fresh Del Monte Produce Inc. has a 1 year low of $21.23 and a 1 year high of $35.27. The firm’s 50 day moving average price is $30.36 and its 200 day moving average price is $31.36.

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

Fresh Del Monte Produce announced that its board has initiated a stock repurchase program on Monday, February 24th that allows the company to buyback $150.00 million in shares. This buyback authorization allows the company to purchase up to 10.4% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.

Fresh Del Monte Produce Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Monday, March 10th were paid a dividend of $0.30 per share. The ex-dividend date of this dividend was Monday, March 10th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.87%. This is an increase from Fresh Del Monte Produce’s previous quarterly dividend of $0.25. Fresh Del Monte Produce’s dividend payout ratio is currently 40.40%.

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.