Meeder Asset Management Inc. Acquires Shares of 5,244 Fresh Del Monte Produce Inc. (NYSE:FDP)

Meeder Asset Management Inc. acquired a new position in Fresh Del Monte Produce Inc. (NYSE:FDP) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 5,244 shares of the company’s stock, valued at approximately $174,000.

A number of other hedge funds also recently bought and sold shares of the business. Pacer Advisors Inc. acquired a new position in Fresh Del Monte Produce in the 4th quarter valued at $42,522,000. Advisors Preferred LLC purchased a new position in shares of Fresh Del Monte Produce during the 4th quarter worth approximately $7,459,000. American Century Companies Inc. lifted its stake in Fresh Del Monte Produce by 22.0% during the 4th quarter. American Century Companies Inc. now owns 950,108 shares of the company’s stock worth $31,553,000 after acquiring an additional 171,574 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Fresh Del Monte Produce by 2.8% in the fourth quarter. Vanguard Group Inc. now owns 4,809,451 shares of the company’s stock valued at $159,722,000 after purchasing an additional 133,122 shares during the period. Finally, Ellsworth Advisors LLC acquired a new position in shares of Fresh Del Monte Produce in the fourth quarter worth $4,298,000. Hedge funds and other institutional investors own 64.83% of the company’s stock.

Analysts Set New Price Targets

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

Fresh Del Monte Produce Trading Up 1.7 %

FDP opened at $30.90 on Tuesday. 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 firm has a market cap of $1.48 billion, a price-to-earnings ratio of 93.64 and a beta of 0.33. The business’s 50 day moving average is $30.49 and its two-hundred day moving average is $31.28. Fresh Del Monte Produce Inc. has a 52 week low of $21.23 and a 52 week high of $35.27.

Fresh Del Monte Produce (NYSE:FDP) last posted 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 firm had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $1.14 billion. Fresh Del Monte Produce had a net margin of 0.36% and a return on equity of 5.91%. The business’s quarterly revenue was up .5% on a year-over-year basis. During the same quarter last year, the business earned $0.25 earnings per share.

Fresh Del Monte Produce Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Monday, March 10th were given a dividend of $0.30 per share. This is an increase from Fresh Del Monte Produce’s previous quarterly dividend of $0.25. This represents a $1.20 annualized dividend and a dividend yield of 3.88%. The ex-dividend date was Monday, March 10th. Fresh Del Monte Produce’s payout ratio is currently 40.40%.

Fresh Del Monte Produce announced that its Board of Directors has initiated a stock buyback plan on Monday, February 24th that permits the company to buyback $150.00 million in shares. This buyback authorization permits the company to repurchase up to 10.4% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling at Fresh Del Monte Produce

In other Fresh Del Monte Produce news, CFO Monica Vicente sold 2,532 shares of Fresh Del Monte Produce stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $30.42, for a total value of $77,023.44. Following the completion of the transaction, the chief financial officer now directly owns 10,808 shares in the company, valued at $328,779.36. The trade was a 18.98 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 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 sale, the senior vice president now owns 11,498 shares in the company, valued at $349,769.16. This trade represents a 13.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 9,321 shares of company stock worth $283,545. Corporate insiders own 30.10% of the company’s stock.

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.