Fresh Del Monte Produce Inc. (NYSE:FDP) Sees Significant Increase in Short Interest

Fresh Del Monte Produce Inc. (NYSE:FDP) was the target of a large growth in short interest in the month of June. As of June 15th, there was short interest totalling 417,800 shares, a growth of 69.1% from the May 31st total of 247,100 shares. Based on an average daily volume of 230,300 shares, the days-to-cover ratio is currently 1.8 days. Approximately 1.1% of the shares of the company are sold short.

Fresh Del Monte Produce Price Performance

Shares of NYSE:FDP traded down $0.13 during trading on Friday, reaching $21.85. 598,936 shares of the company traded hands, compared to its average volume of 331,079. The company has a quick ratio of 1.11, a current ratio of 2.16 and a debt-to-equity ratio of 0.21. Fresh Del Monte Produce has a 52 week low of $21.41 and a 52 week high of $28.55. The firm has a market capitalization of $1.05 billion, a PE ratio of -42.84 and a beta of 0.47. The company’s 50 day moving average is $23.59 and its two-hundred day moving average is $24.55.

Fresh Del Monte Produce (NYSE:FDP) last posted its quarterly earnings results on Thursday, May 2nd. The company reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.26). Fresh Del Monte Produce had a positive return on equity of 4.59% and a negative net margin of 0.56%. The business had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.15 billion. During the same period last year, the firm posted $0.55 EPS. Fresh Del Monte Produce’s quarterly revenue was down 1.8% on a year-over-year basis.

Fresh Del Monte Produce Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 7th. Stockholders of record on Thursday, May 16th were issued a dividend of $0.25 per share. The ex-dividend date was Wednesday, May 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.58%. Fresh Del Monte Produce’s dividend payout ratio (DPR) is currently -196.07%.

Insider Activity at Fresh Del Monte Produce

In related news, Director Michael J. Berthelot sold 5,800 shares of the business’s stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $23.64, for a total value of $137,112.00. Following the completion of the sale, the director now directly owns 13,916 shares in the company, valued at approximately $328,974.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Michael J. Berthelot sold 5,800 shares of the company’s stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $23.64, for a total transaction of $137,112.00. Following the completion of the sale, the director now directly owns 13,916 shares in the company, valued at approximately $328,974.24. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Marissa R. Tenazas bought 2,000 shares of the business’s stock in a transaction dated Friday, June 14th. The shares were bought at an average price of $21.85 per share, with a total value of $43,700.00. Following the completion of the transaction, the senior vice president now owns 2,108 shares in the company, valued at approximately $46,059.80. The disclosure for this purchase can be found here. 30.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Fresh Del Monte Produce

Institutional investors have recently modified their holdings of the business. Parallel Advisors LLC increased its holdings in Fresh Del Monte Produce by 197.6% in the 4th quarter. Parallel Advisors LLC now owns 1,119 shares of the company’s stock worth $29,000 after purchasing an additional 743 shares in the last quarter. Lazard Asset Management LLC acquired a new position in Fresh Del Monte Produce in the 1st quarter worth about $48,000. EntryPoint Capital LLC acquired a new position in Fresh Del Monte Produce in the 1st quarter worth about $49,000. Advisors Asset Management Inc. acquired a new position in Fresh Del Monte Produce in the 1st quarter worth about $174,000. Finally, Inspire Advisors LLC acquired a new position in Fresh Del Monte Produce in the 1st quarter worth about $209,000. Institutional investors and hedge funds own 64.83% of the company’s stock.

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.