California State Teachers Retirement System Has $1.18 Million Stock Holdings in Fresh Del Monte Produce Inc. (NYSE:FDP)

California State Teachers Retirement System lowered its position in shares of Fresh Del Monte Produce Inc. (NYSE:FDP) by 1.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 35,501 shares of the company’s stock after selling 399 shares during the quarter. California State Teachers Retirement System owned 0.07% of Fresh Del Monte Produce worth $1,179,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Parvin Asset Management LLC bought a new position in Fresh Del Monte Produce in the fourth quarter valued at about $30,000. Sterling Capital Management LLC boosted its position in shares of 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 valued at $36,000 after buying an additional 962 shares during the last quarter. McIlrath & Eck LLC purchased a new position in shares of Fresh Del Monte Produce during the fourth quarter valued at approximately $48,000. Sherman Asset Management Inc. purchased a new position in Fresh Del Monte Produce in the fourth quarter worth $54,000. Finally, State of Wyoming bought a new stake in shares of Fresh Del Monte Produce in the fourth quarter valued at $54,000. Institutional investors and hedge funds own 64.83% of the company’s stock.

Fresh Del Monte Produce Stock Up 1.2%

Shares of NYSE:FDP opened at $32.83 on Tuesday. Fresh Del Monte Produce Inc. has a 52-week low of $21.23 and a 52-week high of $35.69. 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 firm has a market capitalization of $1.57 billion, a P/E ratio of 99.47 and a beta of 0.41. The stock has a 50 day moving average price of $32.96 and a 200-day moving average price of $32.09.

Fresh Del Monte Produce (NYSE:FDP) last released its earnings results on Wednesday, April 30th. The company reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.01. Fresh Del Monte Produce had a return on equity of 5.91% and a net margin of 0.36%. The company had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.12 billion. During the same period in the previous year, the business earned $0.34 earnings per share. Fresh Del Monte Produce’s quarterly revenue was down .9% compared to the same quarter last year.

Fresh Del Monte Produce Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 6th. Stockholders of record on Wednesday, May 14th were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.66%. The ex-dividend date was Wednesday, May 14th. Fresh Del Monte Produce’s payout ratio is presently 39.22%.

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

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen lowered 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 other Fresh Del Monte Produce news, SVP Marissa R. Tenazas sold 1,148 shares of the firm’s stock in a transaction that occurred on Wednesday, April 2nd. The shares were 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 of the company’s stock, 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. Insiders own 31.60% of the company’s stock.

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.