Illinois Municipal Retirement Fund Sells 667 Shares of Fresh Del Monte Produce Inc. (NYSE:FDP)

Illinois Municipal Retirement Fund decreased its holdings in Fresh Del Monte Produce Inc. (NYSE:FDP) by 3.7% during the 4th quarter, Holdings Channel.com reports. The fund owned 17,214 shares of the company’s stock after selling 667 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Fresh Del Monte Produce were worth $572,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in FDP. Creative Planning bought a new position in Fresh Del Monte Produce in the 3rd quarter valued at about $261,000. Entropy Technologies LP bought a new position in Fresh Del Monte Produce in the 3rd quarter valued at about $314,000. Aigen Investment Management LP bought a new position in Fresh Del Monte Produce in the 3rd quarter valued at about $290,000. Victory Capital Management Inc. bought a new position in Fresh Del Monte Produce in the 3rd quarter valued at about $342,000. Finally, Royce & Associates LP purchased a new stake in Fresh Del Monte Produce in the 3rd quarter valued at about $201,000. Institutional investors own 64.83% of the company’s stock.

Fresh Del Monte Produce Trading Down 1.3 %

NYSE:FDP opened at $30.09 on Tuesday. The firm has a 50-day moving average price of $31.31 and a two-hundred day moving average price of $31.08. 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 52 week low of $21.23 and a 52 week high of $35.27. The firm has a market cap of $1.44 billion, a price-to-earnings ratio of 91.18 and a beta of 0.39.

Fresh Del Monte Produce (NYSE:FDP) last issued its quarterly earnings results on Monday, February 24th. The company reported $0.26 earnings per share (EPS) 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 company had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $1.14 billion. During the same quarter in the previous year, the business earned $0.25 EPS. The company’s revenue for the quarter was up .5% on a year-over-year basis.

Fresh Del Monte Produce declared that its Board of Directors has approved a stock buyback plan on Monday, February 24th that permits the company to repurchase $150.00 million in shares. This repurchase authorization permits the company to repurchase up to 10.4% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

Fresh Del Monte Produce Increases Dividend

The company 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 represents a $1.20 annualized dividend and a yield of 3.99%. This is an increase from Fresh Del Monte Produce’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Monday, March 10th. Fresh Del Monte Produce’s dividend payout ratio (DPR) is presently 40.40%.

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.