27,365 Shares in Fresh Del Monte Produce Inc. (NYSE:FDP) Purchased by Proficio Capital Partners LLC

Proficio Capital Partners LLC purchased a new position in Fresh Del Monte Produce Inc. (NYSE:FDP) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 27,365 shares of the company’s stock, valued at approximately $909,000.

Several other institutional investors have also modified their holdings of the business. Rhumbline Advisers grew its holdings in shares of Fresh Del Monte Produce by 0.3% during the fourth quarter. Rhumbline Advisers now owns 104,348 shares of the company’s stock valued at $3,465,000 after purchasing an additional 320 shares during the last quarter. Carolina Wealth Advisors LLC lifted its position in Fresh Del Monte Produce by 2.6% in the fourth quarter. Carolina Wealth Advisors LLC now owns 19,403 shares of the company’s stock worth $644,000 after purchasing an additional 486 shares during the period. Waterfront Wealth Inc. lifted its position in Fresh Del Monte Produce by 2.4% in the fourth quarter. Waterfront Wealth Inc. now owns 22,592 shares of the company’s stock worth $750,000 after purchasing an additional 526 shares during the period. HHM Wealth Advisors LLC lifted its position in shares of 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 acquiring an additional 750 shares during the last quarter. Finally, KBC Group NV lifted its position in shares of Fresh Del Monte Produce by 65.0% during the 4th 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 last quarter. Institutional investors and hedge funds own 64.83% of the company’s stock.

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 shares were sold at an average price of $30.42, for a total value of $52,474.50. Following the completion of the sale, the senior vice president now owns 11,498 shares of the company’s stock, valued at $349,769.16. This trade represents a 13.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Mohammed Abbas sold 5,064 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $30.42, for a total transaction of $154,046.88. Following the completion of the sale, the chief operating officer now directly owns 45,560 shares of the company’s stock, valued at approximately $1,385,935.20. This represents a 10.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 9,321 shares of company stock valued at $283,545. Corporate insiders own 30.10% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised shares of Fresh Del Monte Produce from a “hold” rating to a “buy” rating in a research note on Monday, March 17th.

Fresh Del Monte Produce Stock Down 1.1 %

FDP stock opened at $29.61 on Friday. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.09 and a quick ratio of 1.04. Fresh Del Monte Produce Inc. has a 52-week low of $21.23 and a 52-week high of $35.27. The company has a 50-day moving average of $30.68 and a two-hundred day moving average of $31.21. The stock has a market capitalization of $1.42 billion, a price-to-earnings ratio of 89.72 and a beta of 0.33.

Fresh Del Monte Produce (NYSE:FDP) last released its earnings results on Monday, February 24th. The company reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.42 by ($0.16). The company had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $1.14 billion. Fresh Del Monte Produce had a net margin of 0.36% and a return on equity of 5.91%. The firm’s quarterly revenue was up .5% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.25 EPS.

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

Fresh Del Monte Produce Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Monday, March 10th will be issued a dividend of $0.30 per share. This is a positive change from Fresh Del Monte Produce’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Monday, March 10th. This represents a $1.20 annualized dividend and a dividend yield of 4.05%. Fresh Del Monte Produce’s dividend payout ratio (DPR) is presently 40.40%.

About Fresh Del Monte Produce

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.