Fresh Del Monte Produce Inc. (NYSE:FDP) Short Interest Update

Fresh Del Monte Produce Inc. (NYSE:FDP) was the recipient of a large increase in short interest during the month of January. As of January 15th, there was short interest totalling 647,500 shares, an increase of 152.1% from the December 31st total of 256,800 shares. Based on an average daily trading volume, of 288,200 shares, the days-to-cover ratio is currently 2.2 days. Currently, 1.6% of the company’s stock are sold short.

Fresh Del Monte Produce Stock Down 0.3 %

Shares of FDP traded down $0.08 during mid-day trading on Friday, hitting $31.00. 28,255 shares of the company traded hands, compared to its average volume of 229,671. The company has a market capitalization of $1.49 billion, a PE ratio of 94.06 and a beta of 0.41. The company has a quick ratio of 1.04, a current ratio of 2.09 and a debt-to-equity ratio of 0.14. The business has a 50 day moving average of $32.76 and a 200 day moving average of $30.18. Fresh Del Monte Produce has a 1-year low of $21.23 and a 1-year high of $35.27.

Fresh Del Monte Produce (NYSE:FDP) last issued its quarterly earnings results on Thursday, October 31st. The company reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.47 by $0.30. The business had revenue of $1.02 billion for 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%. Fresh Del Monte Produce’s revenue for the quarter was up 1.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.35 EPS.

Hedge Funds Weigh In On Fresh Del Monte Produce

Hedge funds have recently made changes to their positions in the company. Pacer Advisors Inc. purchased a new stake in shares of Fresh Del Monte Produce in the 4th quarter valued at $42,522,000. Advisors Preferred LLC purchased a new stake in Fresh Del Monte Produce in the fourth quarter valued at $7,459,000. Ellsworth Advisors LLC acquired a new stake in Fresh Del Monte Produce during the 4th quarter worth about $4,298,000. Millennium Management LLC raised its stake in shares of Fresh Del Monte Produce by 17.5% during the 2nd quarter. Millennium Management LLC now owns 636,423 shares of the company’s stock valued at $13,906,000 after buying an additional 94,854 shares during the last quarter. Finally, Dean Investment Associates LLC lifted its holdings in shares of Fresh Del Monte Produce by 109.2% in the 3rd quarter. Dean Investment Associates LLC now owns 177,101 shares of the company’s stock valued at $5,232,000 after buying an additional 92,438 shares during the period. 64.83% of the stock is owned by institutional investors and hedge funds.

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.