American Century Companies Inc. Buys 171,574 Shares of Fresh Del Monte Produce Inc. (NYSE:FDP)

American Century Companies Inc. grew its stake in Fresh Del Monte Produce Inc. (NYSE:FDP) by 22.0% during the fourth quarter, Holdings Channel.com reports. The fund owned 950,108 shares of the company’s stock after purchasing an additional 171,574 shares during the quarter. American Century Companies Inc.’s holdings in Fresh Del Monte Produce were worth $31,553,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Rhumbline Advisers raised its position in shares of Fresh Del Monte Produce by 0.3% in the 4th quarter. Rhumbline Advisers now owns 104,348 shares of the company’s stock worth $3,465,000 after acquiring an additional 320 shares in the last quarter. Carolina Wealth Advisors LLC boosted its holdings in shares of Fresh Del Monte Produce by 2.6% in the 4th quarter. Carolina Wealth Advisors LLC now owns 19,403 shares of the company’s stock valued at $644,000 after buying an additional 486 shares in the last quarter. Waterfront Wealth Inc. grew its holdings in Fresh Del Monte Produce by 2.4% in the fourth 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. HHM Wealth Advisors LLC boosted its position in shares of Fresh Del Monte Produce by 75.0% in the 4th quarter. HHM Wealth Advisors LLC now owns 1,750 shares of the company’s stock worth $58,000 after purchasing an additional 750 shares in the last quarter. Finally, KBC Group NV boosted its position in shares of Fresh Del Monte Produce by 65.0% in the 4th quarter. KBC Group NV now owns 2,550 shares of the company’s stock worth $85,000 after purchasing an additional 1,005 shares in the last quarter. Institutional investors own 64.83% of the company’s stock.

Fresh Del Monte Produce Stock Performance

Shares of FDP opened at $30.34 on Friday. Fresh Del Monte Produce Inc. has a one year low of $21.23 and a one year high of $35.27. The stock has a market cap of $1.45 billion, a P/E ratio of 91.95 and a beta of 0.33. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.04 and a current ratio of 2.09. The stock has a 50-day moving average of $30.51 and a two-hundred day moving average of $31.22.

Fresh Del Monte Produce (NYSE:FDP) last issued its quarterly earnings results on Monday, February 24th. The company reported $0.26 earnings per share for the quarter, missing the consensus estimate 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 business had revenue of $1.01 billion during the quarter, compared to analyst estimates of $1.14 billion. During the same quarter last year, the company posted $0.25 EPS. Fresh Del Monte Produce’s quarterly revenue was up .5% compared to the same quarter last year.

Fresh Del Monte Produce Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Monday, March 10th were paid a $0.30 dividend. This is an increase from Fresh Del Monte Produce’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Monday, March 10th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.95%. Fresh Del Monte Produce’s dividend payout ratio is presently 40.40%.

Fresh Del Monte Produce declared that its board has authorized 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 buy up to 10.4% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered shares of Fresh Del Monte Produce from a “buy” rating to a “hold” rating in a research report on Tuesday.

Insiders Place Their Bets

In related news, CFO Monica Vicente sold 2,532 shares of Fresh Del Monte Produce stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $30.42, for a total value of $77,023.44. Following the sale, the chief financial officer now owns 10,808 shares of the company’s stock, valued at approximately $328,779.36. This trade represents a 18.98 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Mohammed Abbas sold 5,064 shares of the company’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $30.42, for a total transaction of $154,046.88. Following the transaction, the chief operating officer now owns 45,560 shares of the company’s stock, valued at approximately $1,385,935.20. This trade represents a 10.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 9,321 shares of company stock worth $283,545. Corporate insiders own 30.10% of the company’s stock.

Fresh Del Monte Produce 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.