Fresh Del Monte Produce Inc. (NYSE:FDP) Shares Sold by AQR Capital Management LLC

AQR Capital Management LLC trimmed its position in shares of Fresh Del Monte Produce Inc. (NYSE:FDP) by 25.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 201,928 shares of the company’s stock after selling 70,165 shares during the period. AQR Capital Management LLC owned approximately 0.42% of Fresh Del Monte Produce worth $6,706,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in FDP. Rhumbline Advisers grew its stake in shares of Fresh Del Monte Produce by 0.3% during the fourth quarter. Rhumbline Advisers now owns 104,348 shares of the company’s stock valued at $3,465,000 after acquiring an additional 320 shares in the last quarter. Carolina Wealth Advisors LLC grew its stake in Fresh Del Monte Produce by 2.6% during the 4th quarter. Carolina Wealth Advisors LLC now owns 19,403 shares of the company’s stock valued at $644,000 after purchasing an additional 486 shares in the last quarter. Waterfront Wealth Inc. increased its holdings in Fresh Del Monte Produce by 2.4% during the 4th quarter. Waterfront Wealth Inc. now owns 22,592 shares of the company’s stock worth $750,000 after purchasing an additional 526 shares during the last quarter. Bank of Montreal Can raised its position in shares of Fresh Del Monte Produce by 7.4% in the 4th quarter. Bank of Montreal Can now owns 9,669 shares of the company’s stock valued at $321,000 after purchasing an additional 666 shares in the last quarter. Finally, HHM Wealth Advisors LLC grew its position in shares of Fresh Del Monte Produce by 75.0% during the fourth quarter. HHM Wealth Advisors LLC now owns 1,750 shares of the company’s stock worth $58,000 after buying an additional 750 shares in the last quarter. Hedge funds and other institutional investors own 64.83% of the company’s stock.

Fresh Del Monte Produce Stock Performance

Shares of FDP stock opened at $33.03 on Thursday. The stock has a market capitalization of $1.58 billion, a price-to-earnings ratio of 100.08 and a beta of 0.36. Fresh Del Monte Produce Inc. has a one year low of $21.23 and a one year high of $35.27. The company’s 50-day simple moving average is $31.37 and its 200-day simple moving average is $31.84. 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 (NYSE:FDP) last released its earnings results on Wednesday, April 30th. The company reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.01. The company had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.12 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 down .9% compared to the same quarter last year. During the same quarter last year, the business posted $0.34 EPS.

Fresh Del Monte Produce Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Wednesday, May 14th will be given a $0.30 dividend. The ex-dividend date of this dividend is Wednesday, May 14th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.63%. Fresh Del Monte Produce’s payout ratio is currently 39.22%.

Fresh Del Monte Produce announced that its Board of Directors has approved a stock repurchase plan on Monday, February 24th that permits the company to repurchase $150.00 million in outstanding shares. This repurchase authorization permits the company to reacquire up to 10.4% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

Analyst Ratings Changes

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

Insider Activity

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 transaction of $154,046.88. Following the completion of the transaction, 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 document filed with the SEC, which is available through this hyperlink. Also, SVP Marissa R. Tenazas sold 1,148 shares of the stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $31.05, for a total value of $35,645.40. Following the completion of the sale, the senior vice president now directly owns 3,573 shares in the company, valued at $110,941.65. This represents a 24.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 10,469 shares of company stock valued at $319,190. Company insiders own 30.10% of the company’s stock.

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.