CWA Asset Management Group LLC Has $960,000 Position in Fresh Del Monte Produce, Inc. (NYSE:FDP)

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

Other hedge funds and other institutional investors have also modified their holdings of the company. Parvin Asset Management LLC acquired a new stake in shares of Fresh Del Monte Produce during the fourth quarter worth $30,000. Sterling Capital Management LLC increased its position in shares of Fresh Del Monte Produce by 795.0% in the fourth quarter. Sterling Capital Management LLC now owns 1,083 shares of the company's stock valued at $36,000 after acquiring an additional 962 shares during the last quarter. McIlrath & Eck LLC acquired a new stake in shares of Fresh Del Monte Produce in the fourth quarter valued at about $48,000. State of Wyoming acquired a new stake in shares of Fresh Del Monte Produce in the fourth quarter valued at about $54,000. Finally, Sherman Asset Management Inc. acquired a new stake in shares of Fresh Del Monte Produce in the fourth quarter valued at about $54,000. Institutional investors own 64.83% of the company's stock.

Analyst Ratings Changes

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

Fresh Del Monte Produce Stock Performance

NYSE FDP traded up $0.03 during trading on Monday, reaching $33.06. 284,545 shares of the company's stock were exchanged, compared to its average volume of 335,742. Fresh Del Monte Produce, Inc. has a fifty-two week low of $21.23 and a fifty-two week high of $35.69. The business has a 50 day moving average price of $33.44 and a 200-day moving average price of $32.01. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.05 and a quick ratio of 1.01. The stock has a market capitalization of $1.58 billion, a P/E ratio of 10.80 and a beta of 0.41.

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

Fresh Del Monte Produce Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 6th. Shareholders of record on Wednesday, May 14th were paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 3.63%. The ex-dividend date was Wednesday, May 14th. Fresh Del Monte Produce's payout ratio is presently 39.22%.

Fresh Del Monte Produce declared that its Board of Directors has initiated a stock buyback program on Monday, February 24th that authorizes the company to buyback $150.00 million in shares. This buyback authorization authorizes the company to repurchase up to 10.4% of its shares through open market purchases. Shares buyback programs are often an indication that the company's leadership believes its shares are undervalued.

Insiders Place Their Bets

In related news, SVP Marissa R. Tenazas sold 1,148 shares of the firm's stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $31.05, for a total transaction of $35,645.40. Following the completion of the transaction, the senior vice president now directly owns 3,573 shares of the company's stock, valued at $110,941.65. This trade represents a 24.32% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 30.10% of the company's stock.

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.