Alliancebernstein L.P. Sells 900 Shares of Fresh Del Monte Produce Inc. (NYSE:FDP)

Alliancebernstein L.P. lowered its holdings in Fresh Del Monte Produce Inc. (NYSE:FDP) by 2.5% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 35,092 shares of the company’s stock after selling 900 shares during the period. Alliancebernstein L.P. owned approximately 0.07% of Fresh Del Monte Produce worth $1,165,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in FDP. Barclays PLC raised its holdings in Fresh Del Monte Produce by 185.7% in the 3rd quarter. Barclays PLC now owns 70,694 shares of the company’s stock valued at $2,087,000 after acquiring an additional 45,952 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of Fresh Del Monte Produce by 25.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 437,998 shares of the company’s stock valued at $12,938,000 after buying an additional 88,900 shares in the last quarter. Empowered Funds LLC boosted its position in shares of Fresh Del Monte Produce by 5.1% during the 4th 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 in the last quarter. Intech Investment Management LLC increased its stake in 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 during the last quarter. Finally, CWA Asset Management Group LLC bought a new stake in Fresh Del Monte Produce during the fourth quarter worth $625,000. 64.83% of the stock is owned by institutional investors.

Fresh Del Monte Produce Price Performance

Fresh Del Monte Produce stock opened at $32.27 on Friday. The company has a market capitalization of $1.55 billion, a PE ratio of 97.79 and a beta of 0.36. The company has a current ratio of 2.09, a quick ratio of 1.04 and a debt-to-equity ratio of 0.14. The stock has a 50-day moving average price of $30.45 and a two-hundred day moving average price of $31.42. 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 issued its quarterly earnings data on Monday, February 24th. The company reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.42 by ($0.16). Fresh Del Monte Produce had a return on equity of 5.91% and a net margin of 0.36%. The business had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $1.14 billion. During the same period in the prior year, the firm earned $0.25 EPS. The business’s revenue for the quarter was up .5% compared to the same quarter last year.

Fresh Del Monte Produce Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Monday, March 10th were issued a $0.30 dividend. This is a positive change from Fresh Del Monte Produce’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Monday, March 10th. This represents a $1.20 annualized dividend and a yield of 3.72%. Fresh Del Monte Produce’s payout ratio is presently 40.40%.

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

Analyst Ratings Changes

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

Insider Activity

In other news, CFO Monica Vicente sold 2,532 shares of the company’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 $77,023.44. Following the transaction, the chief financial officer now owns 10,808 shares in the company, valued at approximately $328,779.36. This represents a 18.98 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Ziad Nabulsi sold 1,725 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 value of $52,474.50. Following the completion of the sale, the senior vice president now owns 11,498 shares of the company’s stock, valued at approximately $349,769.16. This represents a 13.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 10,469 shares of company stock valued at $319,190 in the last ninety days. 30.10% of the stock is owned by company 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.