KBC Group NV lowers stake in Fresh Del Monte Produce Inc
A number of other hedge funds also recently bought and sold shares of the stock. Parametrica Management Ltd raised its position in shares of Fresh Del Monte Produce by 12.9% during the 4th quarter. Parametrica Management Ltd now owns 9,387 shares of the company’s stock valued at $447,000 after acquiring an additional 1,069 shares during the last quarter. Voya Investment Management LLC boosted its stake in Fresh Del Monte Produce by 9.2% in the 2nd quarter. Voya Investment Management LLC now owns 15,395 shares of the company’s stock worth $784,000 after purchasing an additional 1,292 shares during the period. American International Group Inc. boosted its stake in Fresh Del Monte Produce by 8.1% in the 3rd quarter.
American International Group Inc. now owns 22,160 shares of the company’s stock worth $1,007,000 after purchasing an additional 1,656 shares during the period. California Public Employees Retirement System boosted its stake in Fresh Del Monte Produce by 20.6% in the 3rd quarter. California Public Employees Retirement System now owns 10,496 shares of the company’s stock worth $477,000 after purchasing an additional 1,796 shares during the period. Finally, Ameriprise Financial Inc. boosted its stake in Fresh Del Monte Produce by 0.7% in the 3rd quarter. Ameriprise Financial Inc. now owns 265,650 shares of the company’s stock worth $12,075,000 after purchasing an additional 1,955 shares during the period. Hedge funds and other institutional investors own 65.93% of the company’s stock.
Shares of Fresh Del Monte Produce Inc (NYSE:FDP) opened at $47.52 on Tuesday. The stock has a market cap of $2,331.72, a PE ratio of 19.91 and a beta of 0.43. The company has a quick ratio of 1.21, a current ratio of 2.59 and a debt-to-equity ratio of 0.20. Fresh Del Monte Produce Inc has a fifty-two week low of $43.02 and a fifty-two week high of $61.98.
Fresh Del Monte Produce (NYSE:FDP) last released its quarterly earnings results on Tuesday, February 20th. The company reported ($0.08) earnings per share for the quarter. The company had revenue of $953.70 million during the quarter, compared to the consensus estimate of $925.00 million. Fresh Del Monte Produce had a net margin of 2.96% and a return on equity of 6.70%. The firm’s revenue was down .1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.26 earnings per share.
The business also recently announced a quarterly dividend, which will be paid on Friday, March 30th. Shareholders of record on Wednesday, March 7th will be given a $0.15 dividend. The ex-dividend date is Tuesday, March 6th. This represents a $0.60 dividend on an annualized basis and a yield of 1.26%. Fresh Del Monte Produce’s dividend pay-out ratio is currently 25.42%.
Fresh Del Monte Produce announced that its Board of Directors has approved a stock repurchase program on Wednesday, February 21st that authorizes the company to repurchase $300.00 million in outstanding shares. This repurchase authorization authorizes the company to reacquire shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company’s board believes its stock is undervalued.