Cornercap Investment Counsel Inc. Purchases New Shares in Fresh Del Monte Produce Inc. (NYSE:FDP)

Cornercap Investment Counsel Inc. purchased a new position in shares of Fresh Del Monte Produce Inc. (NYSE:FDP - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 12,795 shares of the company's stock, valued at approximately $425,000.

Several other institutional investors and hedge funds have also made changes to their positions in FDP. Rhumbline Advisers raised its position in Fresh Del Monte Produce by 0.3% during the fourth quarter. Rhumbline Advisers now owns 104,348 shares of the company's stock worth $3,465,000 after acquiring an additional 320 shares during the last quarter. Carolina Wealth Advisors LLC increased its stake in shares of 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 worth $644,000 after purchasing an additional 486 shares in the last quarter. Waterfront Wealth Inc. raised its position in shares of 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. HHM Wealth Advisors LLC lifted its stake in 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 valued at $58,000 after buying an additional 750 shares in the last quarter. Finally, KBC Group NV grew its holdings in Fresh Del Monte Produce by 65.0% during the 4th quarter. KBC Group NV now owns 2,550 shares of the company's stock valued at $85,000 after buying an additional 1,005 shares during the last quarter. 64.83% of the stock is currently owned by hedge funds and other institutional investors.

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Analyst Upgrades and Downgrades

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

Insider Transactions at Fresh Del Monte Produce

In other Fresh Del Monte Produce news, COO Mohammed Abbas sold 5,064 shares of Fresh Del Monte Produce stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $30.42, for a total transaction of $154,046.88. Following the transaction, the chief operating officer now directly owns 45,560 shares of the company's stock, valued at $1,385,935.20. The trade was a 10.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Monica Vicente sold 2,532 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $30.42, for a total transaction of $77,023.44. Following the completion of the sale, the chief financial officer now directly owns 10,808 shares of the company's stock, valued at $328,779.36. The trade was a 18.98 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 9,321 shares of company stock worth $283,545 in the last ninety days. Insiders own 30.10% of the company's stock.

Fresh Del Monte Produce Trading Up 1.0 %

Shares of Fresh Del Monte Produce stock traded up $0.32 during trading hours on Wednesday, reaching $31.39. 557,563 shares of the company's stock were exchanged, compared to its average volume of 296,600. The firm has a market capitalization of $1.50 billion, a price-to-earnings ratio of 95.12 and a beta of 0.33. The company has a fifty day moving average of $30.48 and a 200-day moving average of $31.29. Fresh Del Monte Produce Inc. has a 52-week low of $21.23 and a 52-week high of $35.27. The company has a current ratio of 2.09, a quick ratio of 1.04 and a debt-to-equity ratio of 0.14.

Fresh Del Monte Produce (NYSE:FDP - Get Free Report) last announced its quarterly earnings data 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 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 company earned $0.25 earnings per share. The company's revenue was up .5% on a year-over-year basis.

Fresh Del Monte Produce Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Monday, March 10th were paid a dividend of $0.30 per share. The ex-dividend date was Monday, March 10th. This is a boost from Fresh Del Monte Produce's previous quarterly dividend of $0.25. This represents a $1.20 annualized dividend and a dividend yield of 3.82%. Fresh Del Monte Produce's payout ratio is currently 40.40%.

Fresh Del Monte Produce announced that its Board of Directors has approved a stock repurchase plan on Monday, February 24th that authorizes the company to buyback $150.00 million in outstanding shares. This buyback authorization authorizes the company to purchase up to 10.4% of its stock through open market purchases. Stock buyback plans are generally an indication that the company's board believes its stock is undervalued.

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.