Sherman Asset Management Inc. Invests $54,000 in Fresh Del Monte Produce Inc. (NYSE:FDP)

Sherman Asset Management Inc. purchased a new position in shares of Fresh Del Monte Produce Inc. (NYSE:FDP) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 1,636 shares of the company’s stock, valued at approximately $54,000.

Other institutional investors and hedge funds have also modified their holdings of the company. HHM Wealth Advisors LLC boosted its stake in shares of 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 last quarter. KBC Group NV lifted its stake in shares of Fresh Del Monte Produce by 65.0% during the 4th quarter. KBC Group NV now owns 2,550 shares of the company’s stock valued at $85,000 after buying an additional 1,005 shares in the last quarter. Royce & Associates LP purchased a new position in shares of Fresh Del Monte Produce during the 3rd quarter valued at $201,000. GAMMA Investing LLC lifted its stake 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 buying an additional 3,858 shares in the last quarter. Finally, ClearAlpha Technologies LP purchased a new position in shares of Fresh Del Monte Produce during the 3rd quarter valued at $252,000. Hedge funds and other institutional investors own 64.83% of the company’s stock.

Fresh Del Monte Produce Stock Up 1.2 %

FDP opened at $30.51 on Friday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.04 and a current ratio of 2.09. Fresh Del Monte Produce Inc. has a fifty-two week low of $21.23 and a fifty-two week high of $35.27. The firm’s fifty day moving average is $31.37 and its 200 day moving average is $31.03. The stock has a market cap of $1.46 billion, a price-to-earnings ratio of 92.46 and a beta of 0.39.

Fresh Del Monte Produce (NYSE:FDP) last released its earnings results on Monday, February 24th. The company reported $0.26 earnings per share for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.16). Fresh Del Monte Produce had a net margin of 0.36% and a return on equity of 5.91%. The firm had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $1.14 billion. During the same quarter last year, the firm posted $0.25 EPS. The firm’s quarterly revenue was up .5% compared to the same quarter last year.

Fresh Del Monte Produce Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Monday, March 10th will be issued a $0.30 dividend. This is an increase from Fresh Del Monte Produce’s previous quarterly dividend of $0.25. This represents a $1.20 dividend on an annualized basis and a yield of 3.93%. The ex-dividend date is Monday, March 10th. Fresh Del Monte Produce’s payout ratio is currently 40.40%.

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

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.