KLP Kapitalforvaltning AS Makes New $1.10 Million Investment in Fresh Del Monte Produce Inc. (NYSE:FDP)

KLP Kapitalforvaltning AS acquired a new stake in Fresh Del Monte Produce Inc. (NYSE:FDP) during the 4th quarter, HoldingsChannel.com reports. The institutional investor acquired 33,100 shares of the company’s stock, valued at approximately $1,099,000.

Other hedge funds have also modified their holdings of the company. Intech Investment Management LLC acquired a new stake in shares of Fresh Del Monte Produce during the 3rd quarter worth about $375,000. Charles Schwab Investment Management Inc. raised its stake in shares of Fresh Del Monte Produce by 5.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,060,576 shares of the company’s stock valued at $31,329,000 after acquiring an additional 59,521 shares during the last quarter. D.A. Davidson & CO. bought a new position in shares of Fresh Del Monte Produce in the third quarter valued at approximately $583,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Fresh Del Monte Produce by 25.2% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 165,098 shares of the company’s stock worth $4,877,000 after acquiring an additional 33,276 shares in the last quarter. Finally, Walleye Capital LLC grew its position in Fresh Del Monte Produce by 190.7% during the 3rd quarter. Walleye Capital LLC now owns 28,159 shares of the company’s stock worth $832,000 after acquiring an additional 18,471 shares during the last quarter. 64.83% of the stock is owned by institutional investors and hedge funds.

Fresh Del Monte Produce Stock Performance

Fresh Del Monte Produce stock opened at $30.34 on Monday. Fresh Del Monte Produce Inc. has a 12-month low of $21.23 and a 12-month high of $35.27. The stock has a 50-day simple moving average of $30.51 and a 200 day simple moving average of $31.26. The company has a quick ratio of 1.04, a current ratio of 2.09 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $1.45 billion, a price-to-earnings ratio of 91.95 and a beta of 0.33.

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

Fresh Del Monte Produce declared that its board has initiated a stock buyback program on Monday, February 24th that authorizes the company to repurchase $150.00 million in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 10.4% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

Fresh Del Monte Produce Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Monday, March 10th were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Monday, March 10th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.95%. This is an increase from Fresh Del Monte Produce’s previous quarterly dividend of $0.25. Fresh Del Monte Produce’s payout ratio is presently 40.40%.

Insider Activity

In other Fresh Del Monte Produce news, SVP Ziad Nabulsi sold 1,725 shares of the business’s stock in a transaction dated 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. The trade was a 13.05 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Mohammed Abbas sold 5,064 shares of the firm’s stock in a transaction dated 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 transaction, the chief operating officer now directly owns 45,560 shares in the company, valued at $1,385,935.20. This trade represents a 10.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 9,321 shares of company stock valued at $283,545 over the last 90 days. 30.10% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded Fresh Del Monte Produce from a “buy” rating to a “hold” rating in a research report on Tuesday, March 25th.

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.