Fresh Del Monte Produce (NYSE:FDP) Sets New 12-Month High at $28.71

Fresh Del Monte Produce Inc. (NYSE:FDP) shares reached a new 52-week high during trading on Monday . The stock traded as high as $28.71 and last traded at $28.65, with a volume of 4371 shares traded. The stock had previously closed at $28.42.

Analyst Upgrades and Downgrades

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 Performance

The company has a debt-to-equity ratio of 0.21, a current ratio of 2.16 and a quick ratio of 1.11. The company has a market capitalization of $1.39 billion, a price-to-earnings ratio of -56.96 and a beta of 0.44. The stock has a 50 day simple moving average of $24.46 and a two-hundred day simple moving average of $24.39.

Fresh Del Monte Produce (NYSE:FDP) last posted its quarterly earnings results on Thursday, August 1st. The company reported $1.06 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.46. Fresh Del Monte Produce had a positive return on equity of 4.88% and a negative net margin of 0.43%. The company had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.18 billion. During the same period last year, the firm earned $0.99 earnings per share. Fresh Del Monte Produce’s quarterly revenue was down 3.5% on a year-over-year basis.

Fresh Del Monte Produce Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 6th. Stockholders of record on Thursday, August 15th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.44%. The ex-dividend date of this dividend is Thursday, August 15th. Fresh Del Monte Produce’s dividend payout ratio (DPR) is currently -196.08%.

Insider Transactions at Fresh Del Monte Produce

In related news, VP Reyes Jorge Pelaez sold 5,417 shares of the business’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $27.75, for a total value of $150,321.75. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Fresh Del Monte Produce news, VP Reyes Jorge Pelaez sold 5,417 shares of Fresh Del Monte Produce stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $27.75, for a total value of $150,321.75. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Monica Vicente sold 1,800 shares of Fresh Del Monte Produce stock in a transaction that occurred 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 in the company, valued at approximately $95,107.04. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 10,406 shares of company stock worth $286,995. Corporate insiders own 30.10% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its holdings in Fresh Del Monte Produce by 3.2% in the 1st quarter. Vanguard Group Inc. now owns 4,600,314 shares of the company’s stock valued at $119,194,000 after acquiring an additional 143,363 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in Fresh Del Monte Produce by 0.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,797,751 shares of the company’s stock valued at $99,691,000 after acquiring an additional 33,060 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Fresh Del Monte Produce by 2.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 839,623 shares of the company’s stock valued at $22,040,000 after acquiring an additional 17,987 shares during the last quarter. American Century Companies Inc. raised its holdings in Fresh Del Monte Produce by 29.8% in the 2nd quarter. American Century Companies Inc. now owns 681,344 shares of the company’s stock valued at $14,887,000 after acquiring an additional 156,344 shares during the last quarter. Finally, Millennium Management LLC raised its holdings in Fresh Del Monte Produce by 17.5% in the 2nd quarter. Millennium Management LLC now owns 636,423 shares of the company’s stock valued at $13,906,000 after acquiring an additional 94,854 shares during the last quarter. 64.83% of the stock is currently 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.