Fresh Del Monte Produce Inc. (NYSE:FDP – Get Free Report) was the recipient of a large growth in short interest in the month of August. As of August 15th, there was short interest totalling 343,200 shares, a growth of 55.7% from the July 31st total of 220,400 shares. Approximately 0.9% of the shares of the company are sold short. Based on an average daily volume of 298,400 shares, the short-interest ratio is currently 1.2 days.
Analysts Set New Price Targets
Separately, StockNews.com upgraded shares of Fresh Del Monte Produce from a “hold” rating to a “buy” rating in a research note on Monday, August 5th.
Check Out Our Latest Stock Analysis on FDP
Insider Transactions at Fresh Del Monte Produce
Institutional Trading of Fresh Del Monte Produce
Several hedge funds have recently bought and sold shares of the stock. Mackenzie Financial Corp increased its stake in Fresh Del Monte Produce by 64.8% in the 2nd quarter. Mackenzie Financial Corp now owns 22,141 shares of the company’s stock worth $484,000 after acquiring an additional 8,710 shares during the last quarter. Millennium Management LLC increased its position in Fresh Del Monte Produce by 17.5% in the second quarter. Millennium Management LLC now owns 636,423 shares of the company’s stock worth $13,906,000 after purchasing an additional 94,854 shares during the last quarter. AQR Capital Management LLC raised its stake in Fresh Del Monte Produce by 7.7% during the second quarter. AQR Capital Management LLC now owns 337,076 shares of the company’s stock valued at $7,365,000 after purchasing an additional 24,111 shares in the last quarter. Cubist Systematic Strategies LLC lifted its position in Fresh Del Monte Produce by 27.1% during the second quarter. Cubist Systematic Strategies LLC now owns 186,347 shares of the company’s stock valued at $4,072,000 after purchasing an additional 39,768 shares during the last quarter. Finally, Point72 DIFC Ltd bought a new position in Fresh Del Monte Produce during the second quarter valued at $91,000. Hedge funds and other institutional investors own 64.83% of the company’s stock.
Fresh Del Monte Produce Price Performance
Shares of NYSE FDP traded up $0.25 during mid-day trading on Friday, reaching $29.24. The company’s stock had a trading volume of 343,329 shares, compared to its average volume of 247,104. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.16 and a quick ratio of 1.11. Fresh Del Monte Produce has a 52 week low of $21.23 and a 52 week high of $29.49. The stock has a fifty day moving average of $24.89 and a two-hundred day moving average of $24.48. The firm has a market capitalization of $1.40 billion, a PE ratio of -57.33 and a beta of 0.44.
Fresh Del Monte Produce (NYSE:FDP – Get Free Report) last posted 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. The business had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.18 billion. Fresh Del Monte Produce had a positive return on equity of 4.88% and a negative net margin of 0.43%. The firm’s revenue for the quarter was down 3.5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.99 EPS.
Fresh Del Monte Produce Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Friday, September 6th. Shareholders of record on Thursday, August 15th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $1.00 dividend on an annualized basis and a yield of 3.42%. Fresh Del Monte Produce’s dividend payout ratio is currently -196.08%.
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.
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