Teacher Retirement System of Texas Purchases 50,208 Shares of Fresh Del Monte Produce Inc. (NYSE:FDP)

Teacher Retirement System of Texas increased its position in shares of Fresh Del Monte Produce Inc. (NYSE:FDP) by 23.1% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 267,665 shares of the company’s stock after buying an additional 50,208 shares during the period. Teacher Retirement System of Texas’ holdings in Fresh Del Monte Produce were worth $8,889,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Sherman Asset Management Inc. bought a new stake in Fresh Del Monte Produce in the fourth quarter valued at $54,000. Signaturefd LLC increased its stake in Fresh Del Monte Produce by 244.3% in the fourth quarter. Signaturefd LLC now owns 1,663 shares of the company’s stock valued at $55,000 after purchasing an additional 1,180 shares in the last quarter. HHM Wealth Advisors LLC increased its stake in Fresh Del Monte Produce by 75.0% in the fourth quarter. HHM Wealth Advisors LLC now owns 1,750 shares of the company’s stock valued at $58,000 after purchasing an additional 750 shares in the last quarter. KBC Group NV increased its stake in Fresh Del Monte Produce by 65.0% in the fourth quarter. KBC Group NV now owns 2,550 shares of the company’s stock valued at $85,000 after purchasing an additional 1,005 shares in the last quarter. Finally, GAMMA Investing LLC increased its stake in Fresh Del Monte Produce by 106.5% in the fourth quarter. GAMMA Investing LLC now owns 7,482 shares of the company’s stock valued at $248,000 after purchasing an additional 3,858 shares in the last quarter. Institutional investors own 64.83% of the company’s stock.

Insider Activity

In related news, SVP Ziad Nabulsi sold 1,725 shares of the business’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $30.42, for a total transaction of $52,474.50. Following the transaction, the senior vice president now directly owns 11,498 shares in the company, valued at approximately $349,769.16. The trade was a 13.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Monica Vicente sold 2,532 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 $77,023.44. Following the transaction, the chief financial officer now owns 10,808 shares in the company, valued at approximately $328,779.36. This trade represents a 18.98 % 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 three months. 30.10% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

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

Fresh Del Monte Produce Trading Down 1.1 %

FDP opened at $29.61 on Friday. The company has a market cap of $1.42 billion, a P/E ratio of 89.72 and a beta of 0.33. The company has a fifty day moving average price of $30.68 and a two-hundred day moving average price of $31.22. Fresh Del Monte Produce Inc. has a 1-year low of $21.23 and a 1-year 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 issued its quarterly earnings data 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 analyst estimates of $1.14 billion. Fresh Del Monte Produce had a net margin of 0.36% and a return on equity of 5.91%. The firm’s quarterly revenue was up .5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.25 earnings per share.

Fresh Del Monte Produce declared that its board has authorized a stock repurchase program on Monday, February 24th that permits the company to buyback $150.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 10.4% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.

Fresh Del Monte Produce Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Monday, March 10th will be issued a dividend of $0.30 per share. This is a boost from Fresh Del Monte Produce’s previous quarterly dividend of $0.25. This represents a $1.20 dividend on an annualized basis and a dividend yield of 4.05%. The ex-dividend date of this dividend is Monday, March 10th. Fresh Del Monte Produce’s dividend payout ratio (DPR) is currently 40.40%.

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.