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

Fresh Del Monte Produce Inc. (NYSE:FDP)’s stock price hit a new 52-week high during mid-day trading on Wednesday . The company 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 Ratings Changes

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 Performance

The firm has a market cap of $1.63 billion, a P/E ratio of 103.27 and a beta of 0.41. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.04 and a current ratio of 2.09. The company’s 50 day moving average is $29.42 and its 200 day moving average is $26.04.

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

Fresh Del Monte Produce Announces Dividend

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

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 trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Fresh Del Monte Produce 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 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 trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Reyes Jorge Pelaez sold 5,417 shares of Fresh Del Monte Produce 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. Over the last 90 days, insiders have sold 9,226 shares of company stock worth $255,662. Company insiders own 30.10% of the company’s stock.

Institutional Investors Weigh In On Fresh Del Monte Produce

Several hedge funds and other institutional investors have recently made changes to their positions in FDP. nVerses Capital LLC bought a new stake in shares of Fresh Del Monte Produce during the second quarter worth about $28,000. GAMMA Investing LLC increased its position in shares of Fresh Del Monte Produce by 232.1% during the second quarter. GAMMA Investing LLC now owns 1,604 shares of the company’s stock worth $35,000 after acquiring an additional 1,121 shares in the last quarter. Lazard Asset Management LLC bought a new stake in shares of Fresh Del Monte Produce during the first quarter worth about $48,000. EntryPoint Capital LLC bought a new stake in shares of Fresh Del Monte Produce during the first quarter worth about $49,000. Finally, Canada Pension Plan Investment Board bought a new stake in shares of Fresh Del Monte Produce during the second quarter worth about $68,000. 64.83% of the stock is owned by institutional investors.

Fresh Del Monte Produce Company Profile

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.