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 traded. 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 note on Monday, August 5th.

Fresh Del Monte Produce Stock Up 1.3 %

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

Fresh Del Monte Produce (NYSE:FDP) last released 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. Fresh Del Monte Produce had a net margin of 0.36% and a return on equity of 5.91%. The business had revenue of $1.02 billion during the quarter, compared to analyst estimates of $989.45 million. During the same quarter last year, the business earned $0.35 earnings per share. Fresh Del Monte Produce’s quarterly revenue was up 1.6% compared to the same quarter last year.

Fresh Del Monte Produce Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Stockholders 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 dividend yield of 2.92%. Fresh Del Monte Produce’s dividend payout ratio (DPR) is presently 303.04%.

Insider Transactions at Fresh Del Monte Produce

In other news, VP Reyes Jorge Pelaez sold 5,417 shares of the firm’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $27.75, for a total value of $150,321.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, VP Alexandre Apparecido sold 1,500 shares of Fresh Del Monte Produce stock in a transaction dated 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 sale, the vice president now owns 1,139 shares in the company, valued at $31,390.84. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Reyes Jorge Pelaez sold 5,417 shares of Fresh Del Monte Produce stock in a transaction dated 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 quarter, insiders sold 9,226 shares of company stock worth $255,662. 30.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Fresh Del Monte Produce

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. SG Americas Securities LLC lifted its holdings in Fresh Del Monte Produce by 3.4% during the 3rd quarter. SG Americas Securities LLC now owns 17,357 shares of the company’s stock valued at $513,000 after buying an additional 576 shares in the last quarter. Hsbc Holdings PLC increased its position in Fresh Del Monte Produce by 2.2% during the 2nd quarter. Hsbc Holdings PLC now owns 27,260 shares of the company’s stock valued at $596,000 after purchasing an additional 594 shares during the period. SummerHaven Investment Management LLC increased its position in Fresh Del Monte Produce by 2.3% during the 2nd quarter. SummerHaven Investment Management LLC now owns 29,493 shares of the company’s stock valued at $644,000 after purchasing an additional 659 shares during the period. Summit Global Investments increased its position in Fresh Del Monte Produce by 2.8% during the 2nd quarter. Summit Global Investments now owns 27,726 shares of the company’s stock valued at $606,000 after purchasing an additional 756 shares during the period. Finally, GAMMA Investing LLC increased its position in Fresh Del Monte Produce by 232.1% during the 2nd quarter. GAMMA Investing LLC now owns 1,604 shares of the company’s stock valued at $35,000 after purchasing an additional 1,121 shares during the period. 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.