Short Interest in Fresh Del Monte Produce Inc. (NYSE:FDP) Increases By 55.7%

Fresh Del Monte Produce Inc. (NYSE:FDP) 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.

Insider Transactions at Fresh Del Monte Produce

In other 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 transaction of $49,392.00. Following the transaction, the chief financial officer now owns 3,466 shares in the company, valued at approximately $95,107.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CFO Monica Vicente sold 1,800 shares of the firm’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $27.44, for a total value of $49,392.00. Following the transaction, the chief financial officer now owns 3,466 shares of the company’s stock, valued at $95,107.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Alexandre Apparecido sold 1,500 shares of Fresh Del Monte Produce stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $27.56, for a total value of $41,340.00. Following the transaction, the vice president now directly owns 1,139 shares in the company, valued at $31,390.84. The disclosure for this sale can be found here. Insiders have sold 10,406 shares of company stock worth $286,995 in the last quarter. Company insiders own 30.10% of the company’s stock.

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) 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.