Hillsdale Investment Management Inc. Purchases Shares of 123,875 Fresh Del Monte Produce Inc. (NYSE:FDP)

Hillsdale Investment Management Inc. acquired a new position in shares of Fresh Del Monte Produce Inc. (NYSE:FDP) in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 123,875 shares of the company’s stock, valued at approximately $4,114,000. Hillsdale Investment Management Inc. owned approximately 0.26% of Fresh Del Monte Produce as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the business. State Street Corp increased its stake in Fresh Del Monte Produce by 1.2% in the third quarter. State Street Corp now owns 1,306,527 shares of the company’s stock valued at $38,595,000 after purchasing an additional 15,278 shares during the last quarter. Pacer Advisors Inc. acquired a new stake in Fresh Del Monte Produce during the 4th quarter worth $42,522,000. Charles Schwab Investment Management Inc. lifted its position in Fresh Del Monte Produce by 4.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,105,353 shares of the company’s stock valued at $36,709,000 after acquiring an additional 44,777 shares during the last quarter. American Century Companies Inc. boosted its stake in Fresh Del Monte Produce by 22.0% in the fourth quarter. American Century Companies Inc. now owns 950,108 shares of the company’s stock valued at $31,553,000 after acquiring an additional 171,574 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of Fresh Del Monte Produce by 0.4% during the third quarter. Geode Capital Management LLC now owns 773,116 shares of the company’s stock worth $22,842,000 after purchasing an additional 2,767 shares during the last quarter. Hedge funds and other institutional investors own 64.83% of the company’s stock.

Fresh Del Monte Produce Stock Performance

Shares of FDP opened at $29.61 on Friday. The company’s 50 day simple moving average is $30.68 and its 200-day simple moving average is $31.22. The firm has a market cap of $1.42 billion, a PE ratio of 89.72 and a beta of 0.33. 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 announced 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 business 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 quarterly revenue was up .5% on a year-over-year basis. During the same quarter last year, the company posted $0.25 EPS.

Fresh Del Monte Produce declared that its Board of Directors has authorized a share buyback program on Monday, February 24th that allows the company to buyback $150.00 million in shares. This buyback authorization allows the company to purchase up to 10.4% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s board of directors believes its stock is undervalued.

Fresh Del Monte Produce Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Monday, March 10th will be issued a $0.30 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $1.20 dividend on an annualized basis and a dividend 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 payout ratio is presently 40.40%.

Insider Transactions at Fresh Del Monte Produce

In other news, COO Mohammed Abbas sold 5,064 shares of the company’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. This represents a 10.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, 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 owns 11,498 shares in the company, valued at $349,769.16. This represents a 13.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 9,321 shares of company stock worth $283,545 over the last 90 days. 30.10% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

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

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.