Brandywine Global Investment Management LLC Buys 16,558 Shares of Fresh Del Monte Produce Inc. (NYSE:FDP)

Brandywine Global Investment Management LLC lifted its stake in shares of Fresh Del Monte Produce Inc. (NYSE:FDP) by 11.3% during the fourth quarter, HoldingsChannel.com reports. The firm owned 162,629 shares of the company’s stock after purchasing an additional 16,558 shares during the quarter. Brandywine Global Investment Management LLC’s holdings in Fresh Del Monte Produce were worth $5,401,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in FDP. Sherman Asset Management Inc. bought a new stake in shares of Fresh Del Monte Produce during the fourth quarter valued at about $54,000. Signaturefd LLC grew its stake in Fresh Del Monte Produce by 244.3% during the fourth quarter. Signaturefd LLC now owns 1,663 shares of the company’s stock valued at $55,000 after acquiring an additional 1,180 shares in the last quarter. HHM Wealth Advisors LLC increased its holdings in Fresh Del Monte Produce by 75.0% during the 4th quarter. HHM Wealth Advisors LLC now owns 1,750 shares of the company’s stock worth $58,000 after acquiring an additional 750 shares during the period. KBC Group NV lifted its stake in Fresh Del Monte Produce by 65.0% in the 4th quarter. KBC Group NV now owns 2,550 shares of the company’s stock worth $85,000 after purchasing an additional 1,005 shares in the last quarter. Finally, GAMMA Investing LLC grew its position in shares of Fresh Del Monte Produce by 106.5% during the 4th 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. Hedge funds and other institutional investors own 64.83% of the company’s stock.

Insiders Place Their Bets

In related news, COO Mohammed Abbas sold 5,064 shares of the business’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 $154,046.88. Following the completion of the sale, the chief operating officer now owns 45,560 shares in the company, valued at $1,385,935.20. The trade was a 10.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Monica Vicente sold 2,532 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were 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 $328,779.36. The trade was a 18.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 9,321 shares of company stock valued at $283,545 over the last 90 days. Insiders own 30.10% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Fresh Del Monte Produce Stock Performance

Shares of FDP opened at $31.06 on Wednesday. Fresh Del Monte Produce Inc. has a 12-month low of $21.23 and a 12-month 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. The company has a market cap of $1.49 billion, a PE ratio of 94.12 and a beta of 0.33. The stock has a 50-day moving average price of $30.48 and a 200-day moving average price of $31.29.

Fresh Del Monte Produce (NYSE:FDP) last released its quarterly earnings results on Monday, February 24th. The company reported $0.26 EPS for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.16). The company had revenue of $1.01 billion during the quarter, compared to analysts’ expectations 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 period in the prior year, the firm earned $0.25 EPS.

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

Fresh Del Monte Produce Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 28th. Shareholders 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. The ex-dividend date of this dividend was Monday, March 10th. This represents a $1.20 dividend on an annualized basis and a yield of 3.86%. Fresh Del Monte Produce’s dividend payout ratio (DPR) is presently 40.40%.

Fresh Del Monte Produce 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.