Fresh Del Monte Produce (NYSE:FDP) Sets New 52-Week High – Here’s What Happened

Fresh Del Monte Produce Inc. (NYSE:FDP) reached a new 52-week high on Tuesday . The company traded as high as $35.15 and last traded at $35.10, with a volume of 40965 shares changing hands. The stock had previously closed at $34.52.

Analyst Ratings Changes

Separately, StockNews.com upgraded 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 Down 0.3 %

The stock has a fifty day moving average of $29.82 and a two-hundred day moving average of $26.27. The firm has a market capitalization of $1.65 billion, a price-to-earnings ratio of 104.67 and a beta of 0.41. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.09 and a quick ratio of 1.04.

Fresh Del Monte Produce (NYSE:FDP) last issued its earnings results on Thursday, October 31st. The company reported $0.77 EPS for the quarter, topping the consensus estimate of $0.47 by $0.30. The company had revenue of $1.02 billion for 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 for the quarter was up 1.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.35 earnings per share.

Fresh Del Monte Produce Dividend Announcement

The firm also recently announced 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. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $1.00 annualized dividend and a dividend yield of 2.91%. Fresh Del Monte Produce’s dividend payout ratio (DPR) is presently 303.04%.

Insider Activity

In other Fresh Del Monte Produce news, VP Alexandre Apparecido sold 1,500 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $27.56, for a total transaction of $41,340.00. Following the transaction, the vice president now owns 1,139 shares in the company, valued at approximately $31,390.84. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, VP Alexandre Apparecido sold 1,500 shares of the firm’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $27.56, for a total transaction of $41,340.00. Following the completion of the transaction, the vice president now directly owns 1,139 shares in the company, valued at $31,390.84. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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 have sold 9,226 shares of company stock valued at $255,662. Corporate insiders own 30.10% of the company’s stock.

Institutional Investors Weigh In On Fresh Del Monte Produce

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. nVerses Capital LLC acquired 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 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 purchasing an additional 1,121 shares during the last quarter. Lazard Asset Management LLC purchased a new stake in shares of Fresh Del Monte Produce during the 1st quarter worth about $48,000. EntryPoint Capital LLC acquired a new stake in Fresh Del Monte Produce in the first quarter valued at approximately $49,000. Finally, Canada Pension Plan Investment Board bought a new stake in shares of Fresh Del Monte Produce in the second quarter worth $68,000. Hedge funds and other institutional investors own 64.83% of the company’s stock.

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.