Landscape Capital Management L.L.C. raised its stake in Fresh Del Monte Produce Inc (NYSE:FDP) by 63.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,368 shares of the company’s stock after acquiring an additional 4,432 shares during the period. Landscape Capital Management L.L.C.’s holdings in Fresh Del Monte Produce were worth $542,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. New York State Common Retirement Fund boosted its stake in shares of Fresh Del Monte Produce by 4.7% during the third quarter. New York State Common Retirement Fund now owns 46,600 shares of the company’s stock worth $2,118,000 after buying an additional 2,100 shares during the period. The Manufacturers Life Insurance Company acquired a new stake in shares of Fresh Del Monte Produce during the second quarter worth about $1,301,000. LSV Asset Management boosted its stake in shares of Fresh Del Monte Produce by 1.6% during the fourth quarter. LSV Asset Management now owns 2,470,364 shares of the company’s stock worth $117,762,000 after buying an additional 38,554 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of Fresh Del Monte Produce by 48.2% during the third quarter. Bank of New York Mellon Corp now owns 594,651 shares of the company’s stock worth $27,033,000 after buying an additional 193,496 shares during the period. Finally, Algert Global LLC acquired a new stake in shares of Fresh Del Monte Produce during the third quarter worth about $695,000. Institutional investors own 65.37% of the company’s stock.
In other news, VP Reyes Jorge Pelaez sold 600 shares of the stock in a transaction dated Wednesday, March 7th. The shares were sold at an average price of $47.99, for a total transaction of $28,794.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Madeleine L. Champion bought 1,000 shares of the firm’s stock in a transaction dated Friday, May 25th. The shares were acquired at an average price of $52.72 per share, with a total value of $52,720.00. The disclosure for this purchase can be found here. Insiders have sold 7,530 shares of company stock valued at $353,312 in the last quarter. Insiders own 36.90% of the company’s stock.
Fresh Del Monte Produce (NYSE:FDP) last announced its earnings results on Tuesday, February 20th. The company reported ($0.08) earnings per share for the quarter. Fresh Del Monte Produce had a return on equity of 6.70% and a net margin of 2.96%. The business had revenue of $953.70 million for the quarter, compared to analyst estimates of $925.00 million. During the same quarter last year, the company posted $0.26 EPS. Fresh Del Monte Produce’s quarterly revenue was down .1% on a year-over-year basis.
The firm also recently announced a quarterly dividend, which will be paid on Friday, March 30th. Stockholders of record on Wednesday, March 7th will be paid a dividend of $0.15 per share. The ex-dividend date of this dividend is Tuesday, March 6th. This represents a $0.60 annualized dividend and a dividend yield of 1.26%. Fresh Del Monte Produce’s dividend payout ratio (DPR) is 25.42%.
Fresh Del Monte Produce declared that its board has initiated a stock repurchase program on Wednesday, February 21st that permits the company to buyback $300.00 million in shares. This buyback authorization permits the company to purchase shares of its stock through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its stock is undervalued.
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Fresh Del Monte Produce Company Profile
Fresh Del Monte Produce Inc is a holding company. The Company, through its subsidiaries, is engaged in sourcing, transportation and marketing of fresh and fresh-cut produce together with prepared food products in Europe, Africa and the Middle East. Its operations are aggregated into business segments on the basis of its products: bananas, other fresh produce and prepared food.
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