Teacher Retirement System of Texas Has $8.89 Million Stock Position in Fresh Del Monte Produce Inc. (NYSE:FDP)

Teacher Retirement System of Texas increased its stake in Fresh Del Monte Produce Inc. (NYSE:FDP) by 23.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 267,665 shares of the company’s stock after purchasing an additional 50,208 shares during the period. Teacher Retirement System of Texas owned approximately 0.56% of Fresh Del Monte Produce worth $8,889,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in FDP. Sherman Asset Management Inc. bought a new stake in shares of Fresh Del Monte Produce in the 4th quarter valued at about $54,000. Signaturefd LLC increased its holdings in shares of Fresh Del Monte Produce by 244.3% during the fourth quarter. Signaturefd LLC now owns 1,663 shares of the company’s stock worth $55,000 after purchasing an additional 1,180 shares during the period. HHM Wealth Advisors LLC increased its holdings in shares of Fresh Del Monte Produce by 75.0% during the fourth quarter. HHM Wealth Advisors LLC now owns 1,750 shares of the company’s stock worth $58,000 after purchasing an additional 750 shares during the period. KBC Group NV boosted 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 worth $85,000 after acquiring an additional 1,005 shares in the last quarter. Finally, GAMMA Investing LLC boosted its position in shares of Fresh Del Monte Produce by 106.5% during the 4th quarter. GAMMA Investing LLC now owns 7,482 shares of the company’s stock worth $248,000 after acquiring an additional 3,858 shares in the last quarter. 64.83% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, SVP Ziad Nabulsi sold 1,725 shares of the firm’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $30.42, for a total transaction of $52,474.50. Following the completion of the transaction, the senior vice president now owns 11,498 shares of the company’s stock, valued at approximately $349,769.16. This trade represents a 13.05 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Mohammed Abbas sold 5,064 shares of the firm’s stock in a transaction 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 transaction, the chief operating officer now directly owns 45,560 shares of the company’s stock, valued at $1,385,935.20. The trade was 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. Insiders own 30.10% of the company’s stock.

Wall Street Analyst Weigh In

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

Fresh Del Monte Produce Stock Performance

Shares of Fresh Del Monte Produce stock opened at $29.61 on Friday. Fresh Del Monte Produce Inc. has a fifty-two week low of $21.23 and a fifty-two week high of $35.27. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.09 and a quick ratio of 1.04. The firm has a market capitalization of $1.42 billion, a P/E ratio of 89.72 and a beta of 0.33. The company’s 50 day moving average price is $30.68 and its two-hundred day moving average price is $31.22.

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

Fresh Del Monte Produce declared that its Board of Directors has authorized a share repurchase program on Monday, February 24th that permits the company to buyback $150.00 million in shares. This buyback authorization permits the company to buy up to 10.4% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Fresh Del Monte Produce Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Monday, March 10th will be given a $0.30 dividend. The ex-dividend date is Monday, March 10th. This represents a $1.20 dividend on an annualized basis and a yield of 4.05%. This is a positive change from Fresh Del Monte Produce’s previous quarterly dividend of $0.25. Fresh Del Monte Produce’s dividend payout ratio (DPR) is currently 40.40%.

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.