GAMMA Investing LLC Increases Stake in Fresh Del Monte Produce Inc. (NYSE:FDP)

GAMMA Investing LLC lifted its holdings in Fresh Del Monte Produce Inc. (NYSE:FDP) by 2,671.9% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 207,393 shares of the company’s stock after purchasing an additional 199,911 shares during the quarter. GAMMA Investing LLC owned 0.43% of Fresh Del Monte Produce worth $6,727,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. lifted its position in shares of Fresh Del Monte Produce by 2.8% during the fourth quarter. Vanguard Group Inc. now owns 4,809,451 shares of the company’s stock worth $159,722,000 after purchasing an additional 133,122 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Fresh Del Monte Produce by 4.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,105,353 shares of the company’s stock worth $36,709,000 after acquiring an additional 44,777 shares during the last quarter. American Century Companies Inc. lifted its holdings in shares of Fresh Del Monte Produce by 22.0% during the fourth quarter. American Century Companies Inc. now owns 950,108 shares of the company’s stock worth $31,553,000 after purchasing an additional 171,574 shares during the period. Invesco Ltd. lifted its holdings in Fresh Del Monte Produce by 21.7% in the fourth quarter. Invesco Ltd. now owns 919,612 shares of the company’s stock valued at $30,540,000 after acquiring an additional 164,120 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in Fresh Del Monte Produce by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 776,161 shares of the company’s stock valued at $25,782,000 after acquiring an additional 3,045 shares during the period. 64.83% of the stock is owned by hedge funds and other institutional investors.

Fresh Del Monte Produce Stock Up 1.2%

Shares of 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 market capitalization of $1.57 billion, a PE ratio of 99.47 and a beta of 0.41. The stock has a fifty day simple moving average of $32.96 and a two-hundred day simple moving average of $32.09. The company has a quick ratio of 1.04, a current ratio of 2.09 and a debt-to-equity ratio of 0.14.

Fresh Del Monte Produce (NYSE:FDP) last announced its earnings results on Wednesday, April 30th. The company reported $0.63 EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $1.12 billion. During the same period last year, the business posted $0.34 EPS. Fresh Del Monte Produce’s revenue for the quarter was down .9% on a year-over-year basis.

Fresh Del Monte Produce Announces Dividend

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

Fresh Del Monte Produce announced that its board has approved a share buyback program on Monday, February 24th that permits the company to buyback $150.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 10.4% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.

Analyst Upgrades and Downgrades

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

Insider Activity

In other Fresh Del Monte Produce news, SVP Marissa R. Tenazas sold 1,148 shares of Fresh Del Monte Produce stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $31.05, for a total transaction of $35,645.40. Following the transaction, the senior vice president now owns 3,573 shares of the company’s stock, valued at $110,941.65. The trade was a 24.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Company 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.