Fresh Del Monte Produce (NYSE:FDP) Sets New 52-Week High – What’s Next?

Fresh Del Monte Produce Inc. (NYSE:FDP) hit a new 52-week high on Tuesday . The stock traded as high as $35.15 and last traded at $35.10, with a volume of 40965 shares traded. The stock had previously closed at $34.52.

Analysts Set New Price Targets

Separately, StockNews.com raised shares of Fresh Del Monte Produce from a “hold” rating to a “buy” rating in a report on Monday, August 5th.

Fresh Del Monte Produce Trading Down 0.3 %

The firm has a fifty day moving average of $29.82 and a 200-day moving average of $26.27. 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 firm has a market cap of $1.65 billion, a P/E ratio of 104.67 and a beta of 0.41.

Fresh Del Monte Produce (NYSE:FDP) last announced its quarterly earnings data on Thursday, October 31st. The company reported $0.77 EPS for the quarter, beating analysts’ consensus estimates of $0.47 by $0.30. The business had revenue of $1.02 billion during the quarter, compared to analyst estimates of $989.45 million. Fresh Del Monte Produce had a net margin of 0.36% and a return on equity of 5.91%. The firm’s revenue for the quarter was up 1.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.35 earnings per share.

Fresh Del Monte Produce Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Thursday, November 14th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.91%. The ex-dividend date of this dividend is Thursday, November 14th. Fresh Del Monte Produce’s dividend payout ratio (DPR) is currently 303.04%.

Insider Buying and Selling

In related news, CFO Monica Vicente sold 1,800 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $27.44, for a total value of $49,392.00. Following the completion of the transaction, the chief financial officer now directly owns 3,466 shares of the company’s stock, valued at approximately $95,107.04. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CFO Monica Vicente sold 1,800 shares of Fresh Del Monte Produce stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $27.44, for a total value of $49,392.00. Following the sale, the chief financial officer now owns 3,466 shares in the company, valued at $95,107.04. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Reyes Jorge Pelaez sold 5,417 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $27.75, for a total value of $150,321.75. The disclosure for this sale can be found here. Insiders sold 9,226 shares of company stock valued at $255,662 over the last quarter. Insiders own 30.10% of the company’s stock.

Institutional Investors Weigh In On Fresh Del Monte Produce

A number of hedge funds have recently modified their holdings of the business. SG Americas Securities LLC lifted its position in Fresh Del Monte Produce by 3.4% during the third quarter. SG Americas Securities LLC now owns 17,357 shares of the company’s stock valued at $513,000 after purchasing an additional 576 shares during the last quarter. Hsbc Holdings PLC increased its position in shares of Fresh Del Monte Produce by 2.2% during the second quarter. Hsbc Holdings PLC now owns 27,260 shares of the company’s stock valued at $596,000 after acquiring an additional 594 shares during the last quarter. SummerHaven Investment Management LLC lifted its holdings in Fresh Del Monte Produce by 2.3% during the 2nd quarter. SummerHaven Investment Management LLC now owns 29,493 shares of the company’s stock worth $644,000 after buying an additional 659 shares in the last quarter. Summit Global Investments raised its position in shares of Fresh Del Monte Produce by 2.8% during the 2nd quarter. Summit Global Investments now owns 27,726 shares of the company’s stock worth $606,000 after acquiring an additional 756 shares in the last quarter. Finally, GAMMA Investing LLC lifted its stake in Fresh Del Monte Produce by 232.1% in the second quarter. GAMMA Investing LLC now owns 1,604 shares of the company’s stock valued at $35,000 after buying an additional 1,121 shares during the last quarter. Institutional investors own 64.83% of the company’s stock.

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.