CWA Asset Management Group LLC Grows Stock Holdings in Fresh Del Monte Produce, Inc. (NYSE:FDP)

CWA Asset Management Group LLC boosted its stake in Fresh Del Monte Produce, Inc. (NYSE:FDP - Free Report) by 65.5% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 31,131 shares of the company's stock after acquiring an additional 12,316 shares during the period. CWA Asset Management Group LLC owned 0.06% of Fresh Del Monte Produce worth $960,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. SummerHaven Investment Management LLC grew its stake in shares of Fresh Del Monte Produce by 1.3% in the 1st quarter. SummerHaven Investment Management LLC now owns 36,004 shares of the company's stock valued at $1,110,000 after purchasing an additional 471 shares during the last quarter. Hennion & Walsh Asset Management Inc. lifted its holdings in shares of Fresh Del Monte Produce by 12.3% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 16,639 shares of the company's stock worth $513,000 after purchasing an additional 1,817 shares during the period. GAMMA Investing LLC grew its position in Fresh Del Monte Produce by 2,671.9% in the 1st quarter. GAMMA Investing LLC now owns 207,393 shares of the company's stock valued at $6,727,000 after buying an additional 199,911 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new position in Fresh Del Monte Produce in the 4th quarter valued at $350,000. Finally, McIlrath & Eck LLC acquired a new position in Fresh Del Monte Produce in the 4th quarter valued at $48,000. 64.83% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Wall Street Zen downgraded shares of Fresh Del Monte Produce from a "buy" rating to a "hold" rating in a report on Tuesday, March 25th.

Fresh Del Monte Produce Price Performance

Shares of NYSE:FDP opened at $33.35 on Friday. Fresh Del Monte Produce, Inc. has a 52 week low of $21.23 and a 52 week high of $35.69. The company has a 50-day moving average price of $33.37 and a 200 day moving average price of $32.05. The company has a market cap of $1.60 billion, a P/E ratio of 10.90 and a beta of 0.41. The company has a quick ratio of 1.01, a current ratio of 2.05 and a debt-to-equity ratio of 0.12.

Fresh Del Monte Produce (NYSE:FDP - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The company reported $0.63 EPS for the quarter, beating the consensus estimate of $0.62 by $0.01. Fresh Del Monte Produce had a return on equity of 6.52% and a net margin of 3.45%. The business had revenue of $1.10 billion during the quarter, compared to analysts' expectations of $1.12 billion. During the same period last year, the firm earned $0.34 EPS. The company's quarterly revenue was down .9% compared to the same quarter last year.

Fresh Del Monte Produce Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 6th. Stockholders of record on Wednesday, May 14th were paid a dividend of $0.30 per share. The ex-dividend date was Wednesday, May 14th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.60%. Fresh Del Monte Produce's dividend payout ratio (DPR) is presently 39.22%.

Fresh Del Monte Produce announced that its Board of Directors has approved a stock buyback program on Monday, February 24th that permits the company to buyback $150.00 million in outstanding shares. This buyback authorization permits the company to buy up to 10.4% of its shares through open market purchases. Shares buyback programs are often a sign that the company's board of directors believes its shares are undervalued.

Insider Activity

In other Fresh Del Monte Produce news, SVP Marissa R. Tenazas sold 1,148 shares of the company's stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $31.05, for a total transaction of $35,645.40. Following the transaction, the senior vice president now directly owns 3,573 shares in the company, valued at approximately $110,941.65. This represents a 24.32% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 31.60% 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.

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