IQ EQ FUND MANAGEMENT IRELAND Ltd Sells 9,459 Shares of Fresh Del Monte Produce Inc. (NYSE:FDP)

IQ EQ FUND MANAGEMENT IRELAND Ltd decreased its holdings in shares of Fresh Del Monte Produce Inc. (NYSE:FDP) by 12.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 66,875 shares of the company’s stock after selling 9,459 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd owned about 0.14% of Fresh Del Monte Produce worth $2,221,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Charles Schwab Investment Management Inc. lifted its position in Fresh Del Monte Produce by 5.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,060,576 shares of the company’s stock valued at $31,329,000 after purchasing an additional 59,521 shares in the last quarter. Barclays PLC raised its stake in shares of Fresh Del Monte Produce by 185.7% in the third quarter. Barclays PLC now owns 70,694 shares of the company’s stock worth $2,087,000 after buying an additional 45,952 shares during the period. JPMorgan Chase & Co. lifted its position in shares of Fresh Del Monte Produce by 25.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 437,998 shares of the company’s stock valued at $12,938,000 after buying an additional 88,900 shares in the last quarter. Empowered Funds LLC grew its stake in shares of Fresh Del Monte Produce by 5.1% during the 4th quarter. Empowered Funds LLC now owns 262,063 shares of the company’s stock valued at $8,703,000 after acquiring an additional 12,723 shares during the period. Finally, CWA Asset Management Group LLC purchased a new stake in Fresh Del Monte Produce in the 4th quarter worth approximately $625,000. 64.83% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Fresh Del Monte Produce news, COO Mohammed Abbas sold 5,064 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 $154,046.88. Following the sale, the chief operating officer now 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 transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Ziad Nabulsi sold 1,725 shares of the company’s 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 $52,474.50. Following the sale, the senior vice president now directly 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. Over the last quarter, insiders sold 9,321 shares of company stock worth $283,545. 30.10% of the stock is owned by insiders.

Fresh Del Monte Produce Trading Up 1.4 %

Shares of Fresh Del Monte Produce stock opened at $29.61 on Thursday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.04 and a current ratio of 2.09. The company has a fifty day moving average of $30.56 and a 200 day moving average of $31.21. The company has a market capitalization of $1.42 billion, a P/E ratio of 89.72 and a beta of 0.33. Fresh Del Monte Produce Inc. has a fifty-two week low of $21.23 and a fifty-two week high of $35.27.

Fresh Del Monte Produce (NYSE:FDP) last issued its earnings results on Monday, February 24th. The company reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate 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 business had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $1.14 billion. During the same period last year, the business posted $0.25 EPS. The firm’s revenue for the quarter was up .5% compared to the same quarter last year.

Fresh Del Monte Produce announced that its board has initiated a share buyback plan on Monday, February 24th that allows the company to buyback $150.00 million in outstanding shares. This buyback authorization allows the company to reacquire up to 10.4% of its shares through open market purchases. Shares buyback plans are typically an indication 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. Stockholders of record on Monday, March 10th will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 4.05%. The ex-dividend date is Monday, March 10th. This is an increase from Fresh Del Monte Produce’s previous quarterly dividend of $0.25. Fresh Del Monte Produce’s payout ratio is 40.40%.

Wall Street Analyst Weigh In

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

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.