Kovitz Investment Group Partners LLC Lowers Stock Holdings in Fresh Del Monte Produce Inc. (NYSE:FDP)

Kovitz Investment Group Partners LLC reduced its holdings in Fresh Del Monte Produce Inc. (NYSE:FDP) by 64.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 39,647 shares of the company’s stock after selling 70,960 shares during the period. Kovitz Investment Group Partners LLC owned about 0.08% of Fresh Del Monte Produce worth $1,317,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Sterling Capital Management LLC lifted its stake in Fresh Del Monte Produce by 795.0% in the 4th 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 in the last quarter. Sherman Asset Management Inc. purchased a new position in shares of Fresh Del Monte Produce in the fourth quarter valued at approximately $54,000. Signaturefd LLC boosted its stake in shares of Fresh Del Monte Produce by 244.3% in the fourth quarter. Signaturefd LLC now owns 1,663 shares of the company’s stock worth $55,000 after acquiring an additional 1,180 shares during the last quarter. HHM Wealth Advisors LLC boosted its stake in shares of Fresh Del Monte Produce by 75.0% in the fourth quarter. HHM Wealth Advisors LLC now owns 1,750 shares of the company’s stock worth $58,000 after acquiring an additional 750 shares during the last quarter. Finally, KBC Group NV increased its position in shares of Fresh Del Monte Produce by 65.0% during the fourth quarter. KBC Group NV now owns 2,550 shares of the company’s stock worth $85,000 after purchasing an additional 1,005 shares in the last quarter. 64.83% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

In other news, CFO Monica Vicente sold 2,532 shares of the company’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 $77,023.44. Following the transaction, the chief financial officer now directly owns 10,808 shares in the company, valued at approximately $328,779.36. This represents a 18.98 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Mohammed Abbas sold 5,064 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was 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 three months, insiders sold 10,469 shares of company stock worth $319,190. Company insiders own 30.10% of the company’s stock.

Fresh Del Monte Produce Stock Up 1.0 %

FDP stock opened at $34.82 on Wednesday. The company has a market cap of $1.67 billion, a price-to-earnings ratio of 105.52 and a beta of 0.36. The firm has a 50-day moving average of $30.98 and a two-hundred day moving average of $31.69. Fresh Del Monte Produce Inc. has a 12 month low of $21.23 and a 12 month high of $35.27. The company has a current ratio of 2.09, a quick ratio of 1.04 and a debt-to-equity ratio of 0.14.

Fresh Del Monte Produce (NYSE:FDP) last released its quarterly earnings data 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). 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%. The business’s quarterly revenue was up .5% on a year-over-year basis. During the same period last year, the firm posted $0.25 EPS.

Fresh Del Monte Produce Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Monday, March 10th were issued a $0.30 dividend. The ex-dividend date was Monday, March 10th. This is a boost from Fresh Del Monte Produce’s previous quarterly dividend of $0.25. This represents a $1.20 dividend on an annualized basis and a yield of 3.45%. Fresh Del Monte Produce’s dividend payout ratio is currently 40.40%.

Fresh Del Monte Produce declared that its board has authorized a stock repurchase plan on Monday, February 24th that permits the company to repurchase $150.00 million in shares. This repurchase authorization permits the company to repurchase up to 10.4% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

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.