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

Fresh Del Monte Produce Inc. (NYSE:FDP) saw a large growth in short interest during the month of December. As of December 31st, there was short interest totalling 647,500 shares, a growth of 152.1% from the December 15th total of 256,800 shares. Based on an average daily volume of 288,200 shares, the short-interest ratio is currently 2.2 days. Currently, 1.6% of the shares of the company are short sold.

Fresh Del Monte Produce Stock Performance

NYSE FDP traded up $0.43 during trading on Tuesday, reaching $31.52. The company’s stock had a trading volume of 194,762 shares, compared to its average volume of 248,658. The business’s fifty day moving average price is $33.40 and its 200-day moving average price is $29.41. Fresh Del Monte Produce has a twelve month low of $21.23 and a twelve month high of $35.27. 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 firm has a market cap of $1.51 billion, a price-to-earnings ratio of 95.52 and a beta of 0.41.

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

Fresh Del Monte Produce Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Thursday, November 14th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 3.17%. The ex-dividend date was Thursday, November 14th. Fresh Del Monte Produce’s dividend payout ratio (DPR) is presently 303.03%.

Institutional Investors Weigh In On Fresh Del Monte Produce

Several hedge funds have recently modified their holdings of FDP. Canada Pension Plan Investment Board purchased a new position in Fresh Del Monte Produce during the 2nd quarter worth $68,000. Point72 DIFC Ltd purchased a new position in Fresh Del Monte Produce during the second quarter worth about $91,000. GAMMA Investing LLC lifted its position in Fresh Del Monte Produce by 125.9% in the third quarter. GAMMA Investing LLC now owns 3,624 shares of the company’s stock valued at $107,000 after purchasing an additional 2,020 shares during the period. nVerses Capital LLC boosted its holdings in Fresh Del Monte Produce by 200.0% in the 3rd quarter. nVerses Capital LLC now owns 3,900 shares of the company’s stock valued at $115,000 after purchasing an additional 2,600 shares in the last quarter. Finally, Royce & Associates LP acquired a new position in Fresh Del Monte Produce during the 3rd quarter worth approximately $201,000. 64.83% of the stock is owned by institutional investors and hedge funds.

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.