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

Fresh Del Monte Produce Inc. (NYSE:FDP) 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 trading hands. The stock had previously closed at $33.32.

Analysts Set New Price Targets

Separately, StockNews.com raised 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 company has a market capitalization of $1.64 billion, a PE ratio of 102.55 and a beta of 0.41. The business’s 50-day moving average is $29.62 and its 200-day moving average is $26.15. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.04 and a current ratio of 2.09.

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 analysts’ consensus estimates of $0.47 by $0.30. Fresh Del Monte Produce had a net margin of 0.36% and a return on equity of 5.91%. The company had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $989.45 million. During the same period last year, the company posted $0.35 EPS. Fresh Del Monte Produce’s revenue was up 1.6% on a year-over-year basis.

Fresh Del Monte Produce Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Thursday, November 14th will be issued a $0.25 dividend. The ex-dividend date is Thursday, November 14th. This represents a $1.00 annualized dividend and a yield of 2.92%. Fresh Del Monte Produce’s dividend payout ratio (DPR) is presently 303.04%.

Insiders Place Their Bets

In other Fresh Del Monte Produce news, CFO Monica Vicente sold 1,800 shares of Fresh Del Monte Produce stock in a transaction dated 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 transaction, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, VP Alexandre Apparecido sold 1,500 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The shares were 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 of the company’s stock, valued at $31,390.84. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Monica Vicente sold 1,800 shares of the business’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 transaction of $49,392.00. Following the transaction, the chief financial officer now directly owns 3,466 shares of the company’s stock, valued at $95,107.04. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 9,226 shares of company stock valued at $255,662. Insiders own 30.10% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. nVerses Capital LLC purchased a new stake in Fresh Del Monte Produce during the second quarter valued at approximately $28,000. GAMMA Investing LLC increased its holdings 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 valued at $35,000 after buying an additional 1,121 shares during the last quarter. Lazard Asset Management LLC purchased a new stake in Fresh Del Monte Produce during the first quarter valued at approximately $48,000. EntryPoint Capital LLC purchased a new stake in Fresh Del Monte Produce during the first quarter valued at approximately $49,000. Finally, Canada Pension Plan Investment Board purchased a new stake in Fresh Del Monte Produce during the second quarter valued at approximately $68,000. 64.83% of the stock is owned by hedge funds and other institutional investors.

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.