Polymer Capital Management US LLC Purchases Shares of 7,302 Fresh Del Monte Produce Inc. (NYSE:FDP)

Polymer Capital Management US LLC acquired a new position in shares of Fresh Del Monte Produce Inc. (NYSE:FDP) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 7,302 shares of the company’s stock, valued at approximately $242,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Sherman Asset Management Inc. acquired a new stake in Fresh Del Monte Produce during the 4th quarter valued at approximately $54,000. Signaturefd LLC boosted its stake in shares of Fresh Del Monte Produce by 244.3% in the 4th quarter. Signaturefd LLC now owns 1,663 shares of the company’s stock valued at $55,000 after purchasing an additional 1,180 shares during the last quarter. HHM Wealth Advisors LLC increased its position 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 buying an additional 750 shares during the period. KBC Group NV raised its stake in 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 buying an additional 1,005 shares during the last quarter. Finally, Meeder Asset Management Inc. acquired a new position in Fresh Del Monte Produce in the fourth quarter valued at $174,000. 64.83% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Fresh Del Monte Produce Trading Down 2.1 %

NYSE FDP opened at $29.92 on Tuesday. The stock has a market capitalization of $1.43 billion, a P/E ratio of 90.66 and a beta of 0.36. The business has a 50 day simple moving average of $30.44 and a 200 day simple moving average of $31.33. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.09 and a quick ratio of 1.04. Fresh Del Monte Produce Inc. has a one year low of $21.23 and a one year high of $35.27.

Fresh Del Monte Produce (NYSE:FDP) last posted its quarterly 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 business had revenue of $1.01 billion for the quarter, compared to the consensus estimate 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 in the previous year, the company posted $0.25 earnings per share.

Fresh Del Monte Produce Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Monday, March 10th were paid a $0.30 dividend. 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 yield of 4.01%. The ex-dividend date was Monday, March 10th. Fresh Del Monte Produce’s payout ratio is 40.40%.

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

Insider Activity

In other Fresh Del Monte Produce news, SVP Marissa R. Tenazas sold 1,148 shares of the firm’s stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $31.05, for a total value of $35,645.40. Following the completion of the sale, the senior vice president now owns 3,573 shares of the company’s stock, valued at approximately $110,941.65. This trade represents a 24.32 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Monica Vicente sold 2,532 shares of the business’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 sale, the chief financial officer now owns 10,808 shares of the company’s stock, valued at approximately $328,779.36. This represents a 18.98 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 10,469 shares of company stock worth $319,190. Company 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.