Ameriprise Financial Inc. Cuts Stake in Fresh Del Monte Produce Inc. (NYSE:FDP)

Ameriprise Financial Inc. lowered its holdings in shares of Fresh Del Monte Produce Inc. (NYSE:FDP) by 3.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 129,362 shares of the company’s stock after selling 4,819 shares during the quarter. Ameriprise Financial Inc. owned approximately 0.27% of Fresh Del Monte Produce worth $4,296,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. Parvin Asset Management LLC purchased a new position in Fresh Del Monte Produce during the 4th quarter valued at approximately $30,000. Sterling Capital Management LLC grew its holdings in Fresh Del Monte Produce by 795.0% during the 4th quarter. Sterling Capital Management LLC now owns 1,083 shares of the company’s stock valued at $36,000 after buying an additional 962 shares in the last quarter. Sherman Asset Management Inc. purchased a new position in Fresh Del Monte Produce during the 4th quarter valued at approximately $54,000. Signaturefd LLC grew its holdings in Fresh Del Monte Produce by 244.3% during the 4th quarter. Signaturefd LLC now owns 1,663 shares of the company’s stock valued at $55,000 after buying an additional 1,180 shares in the last quarter. Finally, HHM Wealth Advisors LLC grew its holdings in 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 in the last quarter. Hedge funds and other institutional investors own 64.83% of the company’s stock.

Fresh Del Monte Produce Price Performance

Shares of Fresh Del Monte Produce stock opened at $34.43 on Monday. The stock has a market cap of $1.65 billion, a price-to-earnings ratio of 104.34 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. The stock has a 50 day moving average price of $32.09 and a 200-day moving average price of $32.07. Fresh Del Monte Produce Inc. has a one year low of $21.23 and a one year high of $35.27.

Fresh Del Monte Produce (NYSE:FDP) last announced its earnings results on Wednesday, April 30th. The company reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.01. The firm had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.12 billion. Fresh Del Monte Produce had a return on equity of 5.91% and a net margin of 0.36%. The company’s quarterly revenue was down .9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.34 EPS.

Fresh Del Monte Produce Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Wednesday, May 14th will be issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.49%. The ex-dividend date of this dividend is Wednesday, May 14th. Fresh Del Monte Produce’s dividend payout ratio (DPR) is 39.22%.

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

Wall Street Analyst Weigh In

Separately, Wall Street Zen cut Fresh Del Monte Produce from a “buy” rating to a “hold” rating in a report on Tuesday, March 25th.

Insider Transactions at Fresh Del Monte Produce

In related news, SVP Ziad Nabulsi sold 1,725 shares of the firm’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 $52,474.50. Following the completion of the sale, the senior vice president now directly owns 11,498 shares of the company’s stock, valued at approximately $349,769.16. This trade represents a 13.05% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Marissa R. Tenazas sold 1,148 shares of the firm’s stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $31.05, for a total value of $35,645.40. Following the sale, the senior vice president now directly owns 3,573 shares of the company’s stock, valued at $110,941.65. This represents a 24.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 10,469 shares of company stock worth $319,190. 31.60% of the stock is currently 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.