Bailard Inc. Increases Holdings in Fresh Del Monte Produce Inc. (NYSE:FDP)

Bailard Inc. increased its stake in Fresh Del Monte Produce Inc. (NYSE:FDP) by 100.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,800 shares of the company’s stock after acquiring an additional 10,900 shares during the period. Bailard Inc.’s holdings in Fresh Del Monte Produce were worth $724,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Creative Planning purchased a new position in shares of Fresh Del Monte Produce in the 3rd quarter worth approximately $261,000. Entropy Technologies LP bought a new stake in Fresh Del Monte Produce in the third quarter worth $314,000. Aigen Investment Management LP bought a new stake in Fresh Del Monte Produce in the third quarter worth $290,000. Victory Capital Management Inc. purchased a new position in Fresh Del Monte Produce during the third quarter worth $342,000. Finally, Royce & Associates LP bought a new position in Fresh Del Monte Produce during the third quarter valued at $201,000. Hedge funds and other institutional investors own 64.83% of the company’s stock.

Fresh Del Monte Produce Trading Down 1.3 %

Shares of FDP opened at $30.09 on Tuesday. Fresh Del Monte Produce Inc. has a twelve month low of $21.23 and a twelve 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’s fifty day simple moving average is $31.31 and its 200-day simple moving average is $31.08. The company has a market cap of $1.44 billion, a P/E ratio of 91.18 and a beta of 0.39.

Fresh Del Monte Produce (NYSE:FDP) last posted its quarterly earnings data 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 return on equity of 5.91% and a net margin of 0.36%. The firm had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $1.14 billion. During the same period last year, the company earned $0.25 earnings per share. The business’s revenue for the quarter was up .5% compared to the same quarter last year.

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

Fresh Del Monte Produce Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Monday, March 10th will be issued a dividend of $0.30 per share. The ex-dividend date is Monday, March 10th. This represents a $1.20 dividend on an annualized basis and a yield of 3.99%. This is a boost from Fresh Del Monte Produce’s previous quarterly dividend of $0.25. Fresh Del Monte Produce’s payout ratio is presently 40.40%.

About Fresh Del Monte Produce

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.