Deutsche Bank AG Acquires 9,848 Shares of Fresh Del Monte Produce Inc. (NYSE:FDP)

Deutsche Bank AG increased its holdings in Fresh Del Monte Produce Inc. (NYSE:FDP) by 44.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 31,761 shares of the company’s stock after acquiring an additional 9,848 shares during the period. Deutsche Bank AG owned about 0.07% of Fresh Del Monte Produce worth $1,055,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Parvin Asset Management LLC bought a new position in shares of Fresh Del Monte Produce during the 4th quarter worth approximately $30,000. Sterling Capital Management LLC lifted its holdings in Fresh Del Monte Produce by 795.0% during the fourth quarter. Sterling Capital Management LLC now owns 1,083 shares of the company’s stock worth $36,000 after acquiring an additional 962 shares during the period. Sherman Asset Management Inc. bought a new stake in Fresh Del Monte Produce during the fourth quarter worth $54,000. Signaturefd LLC grew its stake in Fresh Del Monte Produce by 244.3% in the 4th quarter. Signaturefd LLC now owns 1,663 shares of the company’s stock valued at $55,000 after purchasing an additional 1,180 shares during the period. Finally, HHM Wealth Advisors LLC grew its stake in 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 valued at $58,000 after purchasing an additional 750 shares during the period. Institutional investors own 64.83% of the company’s stock.

Analyst Upgrades and Downgrades

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

Insider Transactions at Fresh Del Monte Produce

In related news, COO Mohammed Abbas sold 5,064 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 value of $154,046.88. Following the transaction, the chief operating officer now owns 45,560 shares in the company, valued at $1,385,935.20. The trade was a 10.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Marissa R. Tenazas sold 1,148 shares of the stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $31.05, for a total transaction of $35,645.40. Following the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 10,469 shares of company stock worth $319,190. Company insiders own 31.60% of the company’s stock.

Fresh Del Monte Produce Stock Performance

Shares of FDP opened at $34.43 on Monday. Fresh Del Monte Produce Inc. has a 52-week low of $21.23 and a 52-week high of $35.27. The stock’s 50-day simple moving average is $32.09 and its 200 day simple moving average is $32.07. 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 market capitalization of $1.65 billion, a price-to-earnings ratio of 104.34 and a beta of 0.36.

Fresh Del Monte Produce (NYSE:FDP) last announced its earnings results on Wednesday, April 30th. The company reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.62 by $0.01. The business had revenue of $1.10 billion for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period in the prior year, the company earned $0.34 EPS.

Fresh Del Monte Produce Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Wednesday, May 14th will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend 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 declared that its Board of Directors has initiated a stock repurchase program on Monday, February 24th that permits the company to repurchase $150.00 million in outstanding shares. This repurchase authorization permits the company to reacquire up to 10.4% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its stock is undervalued.

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.