Bank of Montreal Can Raises Stock Holdings in Fresh Del Monte Produce Inc. (NYSE:FDP)

Bank of Montreal Can lifted its position in shares of Fresh Del Monte Produce Inc. (NYSE:FDP) by 7.4% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 9,669 shares of the company’s stock after buying an additional 666 shares during the period. Bank of Montreal Can’s holdings in Fresh Del Monte Produce were worth $321,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the business. Sherman Asset Management Inc. purchased a new position in shares of Fresh Del Monte Produce during the 4th quarter worth about $54,000. Signaturefd LLC increased its holdings in shares of Fresh Del Monte Produce by 244.3% during the 4th quarter. Signaturefd LLC now owns 1,663 shares of the company’s stock worth $55,000 after buying an additional 1,180 shares during the last quarter. HHM Wealth Advisors LLC raised its position in shares of Fresh Del Monte Produce by 75.0% in the 4th quarter. HHM Wealth Advisors LLC now owns 1,750 shares of the company’s stock worth $58,000 after buying an additional 750 shares during the period. KBC Group NV grew its position in Fresh Del Monte Produce by 65.0% during the fourth quarter. KBC Group NV now owns 2,550 shares of the company’s stock valued at $85,000 after acquiring an additional 1,005 shares during the period. Finally, Meeder Asset Management Inc. purchased a new stake in Fresh Del Monte Produce during the fourth quarter valued at about $174,000. Hedge funds and other institutional investors own 64.83% of the company’s stock.

Analyst Upgrades and Downgrades

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

Fresh Del Monte Produce Trading Up 1.5 %

Shares of FDP stock opened at $34.28 on Thursday. The company has a quick ratio of 1.04, a current ratio of 2.09 and a debt-to-equity ratio of 0.14. The stock has a market cap of $1.64 billion, a price-to-earnings ratio of 103.89 and a beta of 0.36. The firm’s 50 day moving average price is $30.64 and its two-hundred day moving average price is $31.52. Fresh Del Monte Produce Inc. has a fifty-two week low of $21.23 and a fifty-two week high of $35.27.

Fresh Del Monte Produce (NYSE:FDP) last released its quarterly earnings data on Monday, February 24th. The company reported $0.26 EPS for the quarter, missing the consensus estimate 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 company had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $1.14 billion. During the same period last year, the business earned $0.25 earnings per share. The company’s revenue for the quarter was up .5% compared to the same quarter last year.

Fresh Del Monte Produce Increases Dividend

The firm also recently announced 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. This is a boost from Fresh Del Monte Produce’s previous quarterly dividend of $0.25. This represents a $1.20 annualized dividend and a dividend yield of 3.50%. The ex-dividend date was Monday, March 10th. Fresh Del Monte Produce’s dividend payout ratio is 40.40%.

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

Insiders Place Their Bets

In other news, COO Mohammed Abbas sold 5,064 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $30.42, for a total transaction of $154,046.88. Following the completion of the transaction, the chief operating officer now directly owns 45,560 shares in the company, valued at approximately $1,385,935.20. The trade was a 10.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Monica Vicente sold 2,532 shares of Fresh Del Monte Produce 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 sale, 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 disclosure for this sale can be found here. Insiders sold a total of 10,469 shares of company stock valued at $319,190 in the last ninety days. Corporate insiders own 30.10% of the company’s stock.

Fresh Del Monte Produce Company 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.