Fresh Del Monte Produce (NYSE:FDP) Sets New 12-Month High – Here’s Why

Shares of Fresh Del Monte Produce Inc. (NYSE:FDP) reached a new 52-week high on Wednesday . The stock traded as high as $34.25 and last traded at $33.88, with a volume of 23954 shares traded. The stock had previously closed at $33.32.

Analyst Upgrades and Downgrades

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

Fresh Del Monte Produce Stock Up 2.3 %

The business’s fifty day simple moving average is $29.42 and its 200 day simple moving average is $26.04. The company has a current ratio of 2.09, a quick ratio of 1.04 and a debt-to-equity ratio of 0.14. The stock has a market cap of $1.63 billion, a price-to-earnings ratio of 103.27 and a beta of 0.41.

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

Fresh Del Monte Produce Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Thursday, November 14th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.93%. The ex-dividend date is Thursday, November 14th. Fresh Del Monte Produce’s dividend payout ratio is presently 303.03%.

Insiders Place Their Bets

In other news, VP Reyes Jorge Pelaez sold 5,417 shares of the business’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $27.75, for a total value of $150,321.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, VP Alexandre Apparecido sold 1,500 shares of the business’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $27.56, for a total value of $41,340.00. Following the completion of the transaction, the vice president now owns 1,139 shares of the company’s stock, valued at $31,390.84. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Reyes Jorge Pelaez sold 5,417 shares of the business’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $27.75, for a total transaction of $150,321.75. The disclosure for this sale can be found here. In the last 90 days, insiders sold 9,226 shares of company stock valued at $255,662. Company insiders own 30.10% of the company’s stock.

Institutional Investors Weigh In On Fresh Del Monte Produce

Several institutional investors have recently added to or reduced their stakes in the stock. SG Americas Securities LLC lifted its position in Fresh Del Monte Produce by 3.4% in the 3rd quarter. SG Americas Securities LLC now owns 17,357 shares of the company’s stock valued at $513,000 after acquiring an additional 576 shares in the last quarter. Hsbc Holdings PLC raised its holdings in shares of Fresh Del Monte Produce by 2.2% in the 2nd quarter. Hsbc Holdings PLC now owns 27,260 shares of the company’s stock valued at $596,000 after purchasing an additional 594 shares during the period. SummerHaven Investment Management LLC raised its holdings in shares of Fresh Del Monte Produce by 2.3% in the 2nd quarter. SummerHaven Investment Management LLC now owns 29,493 shares of the company’s stock valued at $644,000 after purchasing an additional 659 shares during the period. Summit Global Investments raised its holdings in shares of Fresh Del Monte Produce by 2.8% in the 2nd quarter. Summit Global Investments now owns 27,726 shares of the company’s stock valued at $606,000 after purchasing an additional 756 shares during the period. Finally, GAMMA Investing LLC raised its holdings in shares of Fresh Del Monte Produce by 232.1% in the 2nd quarter. GAMMA Investing LLC now owns 1,604 shares of the company’s stock valued at $35,000 after purchasing an additional 1,121 shares during the period. 64.83% of the stock is owned by institutional investors.

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.