Short Interest in Fresh Del Monte Produce Inc. (NYSE:FDP) Grows By 15.5%

Fresh Del Monte Produce Inc. (NYSE:FDP) was the target of a significant growth in short interest during the month of July. As of July 31st, there was short interest totalling 220,400 shares, a growth of 15.5% from the July 15th total of 190,800 shares. Currently, 0.6% of the company’s shares are sold short. Based on an average trading volume of 285,600 shares, the short-interest ratio is currently 0.8 days.

Insider Activity at Fresh Del Monte Produce

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

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Allianz Asset Management GmbH increased its holdings in shares of Fresh Del Monte Produce by 107.6% in the 4th quarter. Allianz Asset Management GmbH now owns 477,811 shares of the company’s stock worth $12,543,000 after buying an additional 247,702 shares during the last quarter. American Century Companies Inc. lifted its stake in Fresh Del Monte Produce by 29.8% during the second quarter. American Century Companies Inc. now owns 681,344 shares of the company’s stock worth $14,887,000 after purchasing an additional 156,344 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Fresh Del Monte Produce by 3.2% in the 1st quarter. Vanguard Group Inc. now owns 4,600,314 shares of the company’s stock worth $119,194,000 after purchasing an additional 143,363 shares in the last quarter. Millennium Management LLC boosted its holdings in shares of Fresh Del Monte Produce by 17.5% in the 2nd 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 in the last quarter. Finally, LSV Asset Management increased its position in shares of Fresh Del Monte Produce by 31.4% during the 2nd quarter. LSV Asset Management now owns 370,095 shares of the company’s stock valued at $8,087,000 after purchasing an additional 88,498 shares during the last quarter. 64.83% of the stock is owned by institutional investors.

Fresh Del Monte Produce Stock Performance

Shares of FDP traded up $0.12 on Friday, reaching $27.57. 240,576 shares of the company’s stock traded hands, compared to its average volume of 246,910. The stock’s 50 day simple moving average is $23.60 and its two-hundred day simple moving average is $24.18. The stock has a market cap of $1.32 billion, a PE ratio of -54.06 and a beta of 0.44. Fresh Del Monte Produce has a 52-week low of $21.23 and a 52-week high of $27.89. The company has a current ratio of 2.16, a quick ratio of 1.11 and a debt-to-equity ratio of 0.21.

Fresh Del Monte Produce (NYSE:FDP) last released its earnings results on Thursday, August 1st. The company reported $1.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 business’s revenue for the quarter was down 3.5% on a year-over-year basis. During the same period last year, the business posted $0.99 earnings per share.

Fresh Del Monte Produce Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 6th. Stockholders of record on Thursday, August 15th will be given a $0.25 dividend. The ex-dividend date is Thursday, August 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.63%. Fresh Del Monte Produce’s dividend payout ratio (DPR) is currently -196.08%.

Analyst Ratings Changes

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

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.