Fresh Del Monte Produce (NYSE:FDP) Reaches New 1-Year High at $30.08

Fresh Del Monte Produce Inc. (NYSE:FDP)’s stock price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $30.08 and last traded at $30.08, with a volume of 41625 shares. The stock had previously closed at $29.24.

Analyst Upgrades and Downgrades

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

Fresh Del Monte Produce Price Performance

The company has a debt-to-equity ratio of 0.15, a current ratio of 2.08 and a quick ratio of 1.07. The business has a fifty day moving average of $25.03 and a 200 day moving average of $24.53. The stock has a market cap of $1.44 billion, a PE ratio of -57.33 and a beta of 0.44.

Fresh Del Monte Produce (NYSE:FDP) last issued its quarterly 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. Fresh Del Monte Produce had a negative net margin of 0.43% and a positive return on equity of 4.87%. The business had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.18 billion. During the same quarter in the previous year, the firm earned $0.99 earnings per share. The business’s revenue was down 3.5% compared to the same quarter last year.

Fresh Del Monte Produce Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 6th. Stockholders of record on Thursday, August 15th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $1.00 annualized dividend and a dividend yield of 3.34%. Fresh Del Monte Produce’s payout ratio is -196.07%.

Insider Activity at Fresh Del Monte Produce

In other news, VP Alexandre Apparecido sold 1,500 shares of the firm’s 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 approximately $31,390.84. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, CFO Monica Vicente sold 1,800 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $27.44, for a total value of $49,392.00. Following the completion of the sale, the chief financial officer now directly owns 3,466 shares of the company’s stock, valued at approximately $95,107.04. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Alexandre Apparecido sold 1,500 shares of the business’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $27.56, for a total value of $41,340.00. Following the completion of the sale, the vice president now directly owns 1,139 shares in the company, valued at approximately $31,390.84. The disclosure for this sale can be found here. Insiders sold a total of 10,406 shares of company stock valued at $286,995 over the last three months. 30.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in FDP. Vanguard Group Inc. raised its stake in shares of Fresh Del Monte Produce by 3.2% during 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. Dimensional Fund Advisors LP boosted its position in Fresh Del Monte Produce by 0.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,797,751 shares of the company’s stock worth $99,691,000 after purchasing an additional 33,060 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Fresh Del Monte Produce by 2.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 839,623 shares of the company’s stock valued at $22,040,000 after purchasing an additional 17,987 shares during the last quarter. American Century Companies Inc. lifted its stake in shares of Fresh Del Monte Produce by 29.8% in the second quarter. American Century Companies Inc. now owns 681,344 shares of the company’s stock worth $14,887,000 after buying an additional 156,344 shares during the last quarter. Finally, Millennium Management LLC boosted its holdings 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 worth $13,906,000 after buying an additional 94,854 shares during the period. 64.83% of the stock is currently owned by institutional investors and hedge funds.

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.