Fresh Del Monte Produce Inc. (NYSE:FDP) Short Interest Up 15.5% in July

Fresh Del Monte Produce Inc. (NYSE:FDP) was the recipient of a significant growth in short interest during the month of July. As of July 31st, there was short interest totalling 220,400 shares, a growth of 15.5% from the July 15th total of 190,800 shares. Based on an average daily trading volume, of 285,600 shares, the days-to-cover ratio is presently 0.8 days. Approximately 0.6% of the shares of the company are short sold.

Analyst Ratings Changes

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

Fresh Del Monte Produce Price Performance

FDP traded up $0.12 during midday trading on Friday, hitting $27.57. 240,576 shares of the company traded hands, compared to its average volume of 246,910. The business has a 50 day simple moving average of $23.60 and a two-hundred day simple moving average of $24.18. Fresh Del Monte Produce has a 52-week low of $21.23 and a 52-week high of $27.89. The company has a market capitalization of $1.32 billion, a price-to-earnings ratio of -54.06 and a beta of 0.44. The company has a current ratio of 2.16, a quick ratio of 1.11 and a debt-to-equity ratio of 0.21.

Fresh Del Monte Produce (NYSE:FDP) last released its quarterly earnings results on Thursday, August 1st. The company reported $1.06 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.46. Fresh Del Monte Produce had a negative net margin of 0.43% and a positive return on equity of 4.88%. The firm had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.18 billion. During the same quarter in the prior year, the firm earned $0.99 EPS. The company’s revenue for the quarter was down 3.5% on a year-over-year basis.

Fresh Del Monte Produce Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 6th. Stockholders of record on Thursday, August 15th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.63%. The ex-dividend date is Thursday, August 15th. Fresh Del Monte Produce’s dividend payout ratio (DPR) is -196.08%.

Insider Buying and Selling

In other news, Director Mary Ann Cloyd sold 1,689 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $27.20, for a total transaction of $45,940.80. Following the sale, the director now owns 22,188 shares of the company’s stock, valued at approximately $603,513.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Fresh Del Monte Produce news, Director Mary Ann Cloyd sold 1,689 shares of the company’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $27.20, for a total value of $45,940.80. Following the completion of the transaction, the director now owns 22,188 shares in the company, valued at $603,513.60. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Marissa R. Tenazas bought 2,000 shares of the stock in a transaction dated Friday, June 14th. The shares were purchased at an average cost of $21.85 per share, for a total transaction of $43,700.00. Following the completion of the purchase, the senior vice president now owns 2,108 shares in the company, valued at $46,059.80. The disclosure for this purchase can be found here. 30.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Allspring Global Investments Holdings LLC raised its holdings in Fresh Del Monte Produce by 30.2% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 66,525 shares of the company’s stock valued at $1,746,000 after buying an additional 15,418 shares during the period. Louisiana State Employees Retirement System purchased a new position in shares of Fresh Del Monte Produce during the fourth quarter worth $444,000. Hussman Strategic Advisors Inc. acquired a new stake in shares of Fresh Del Monte Produce in the fourth quarter valued at $551,000. Illinois Municipal Retirement Fund grew its stake in shares of Fresh Del Monte Produce by 8.2% in the fourth quarter. Illinois Municipal Retirement Fund now owns 18,766 shares of the company’s stock valued at $493,000 after buying an additional 1,428 shares in the last quarter. Finally, New York State Common Retirement Fund raised its holdings in shares of Fresh Del Monte Produce by 10.7% in the 4th quarter. New York State Common Retirement Fund now owns 30,585 shares of the company’s stock valued at $803,000 after buying an additional 2,964 shares during the period. 64.83% of the stock is owned by hedge funds and other institutional investors.

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.