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Allianz Asset Management sells Fresh Del Monte shares

Allianz Asset Management GmbH cut its position in Fresh Del Monte Produce Inc (NYSE:FDP) by 1.9% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 280,312 shares of the company’s stock after selling 5,424 shares during the quarter. Allianz Asset Management GmbH’s holdings in Fresh Del Monte Produce were worth $13,362,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the company. Amalgamated Bank acquired a new position in shares of Fresh Del Monte Produce in the 4th quarter valued at approximately $207,000. Ramsey Quantitative Systems acquired a new position in shares of Fresh Del Monte Produce in the 4th quarter valued at approximately $260,000. Bank of New York Mellon Corp raised its position in shares of Fresh Del Monte Produce by 25.8% in the 4th quarter. Bank of New York Mellon Corp now owns 747,863 shares of the company’s stock valued at $35,651,000 after buying an additional 153,212 shares in the last quarter. 

Wells Fargo & Company MN raised its position in shares of Fresh Del Monte Produce by 11.3% in the 4th quarter. Wells Fargo & Company MN now owns 180,933 shares of the company’s stock valued at $8,624,000 after buying an additional 18,433 shares in the last quarter. Finally, First Trust Advisors LP raised its position in shares of Fresh Del Monte Produce by 15.7% in the 4th quarter. First Trust Advisors LP now owns 70,415 shares of the company’s stock valued at $3,357,000 after buying an additional 9,558 shares in the last quarter. Institutional investors own 65.37% of the company’s stock.

In related news, Director Madeleine L. Champion acquired 1,000 shares of the stock in a transaction that occurred on Friday, May 25th. The stock was acquired at an average cost of $52.72 per share, for a total transaction of $52,720.00. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, VP Reyes Jorge Pelaez sold 600 shares of the company’s stock in a transaction that occurred on Wednesday, March 7th. The stock was sold at an average price of $47.99, for a total transaction of $28,794.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 7,530 shares of company stock valued at $353,312. 36.90% of the stock is owned by corporate insiders.

Fresh Del Monte Produce Inc (FDP) opened at $47.79 on Friday. The company has a market cap of $2,313.18, a P/E ratio of 20.25 and a beta of 0.43. Fresh Del Monte Produce Inc has a 12-month low of $43.02 and a 12-month high of $61.98. 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 (NYSE:FDP) last released its quarterly earnings data on Tuesday, February 20th. The company reported ($0.08) earnings per share (EPS) for the quarter. The company had revenue of $953.70 million for the quarter, compared to analyst estimates of $925.00 million. Fresh Del Monte Produce had a return on equity of 6.70% and a net margin of 2.96%. Fresh Del Monte Produce’s revenue for the quarter was down .1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.26 earnings per share.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 30th. Investors of record on Wednesday, March 7th will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 1.26%. The ex-dividend date of this dividend is Tuesday, March 6th. Fresh Del Monte Produce’s dividend pay-out ratio is 25.42%.

Fresh Del Monte Produce declared that its board has initiated a share buyback program on Wednesday, February 21st that authorizes the company to buyback $300.00 million in shares. This buyback authorization, authorizes the company to repurchase shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.

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