Fresh Del Monte Produce (NYSE:FDP) Reaches New 1-Year High – Here’s What Happened

Fresh Del Monte Produce Inc. (NYSE:FDP) shares hit a new 52-week high during trading on Thursday . The stock traded as high as $33.61 and last traded at $33.06, with a volume of 82153 shares traded. The stock had previously closed at $29.09.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded shares of Fresh Del Monte Produce from a “hold” rating to a “buy” rating in a report on Monday, August 5th.

Fresh Del Monte Produce Stock Up 13.1 %

The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.07 and a current ratio of 2.08. The company has a market capitalization of $1.58 billion, a price-to-earnings ratio of -85.16 and a beta of 0.41. The firm’s 50-day simple moving average is $29.10 and its 200-day simple moving average is $25.82.

Fresh Del Monte Produce (NYSE:FDP) last posted its quarterly earnings results on Thursday, August 1st. The company reported $1.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.46. The company had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.18 billion. Fresh Del Monte Produce had a negative net margin of 0.43% and a positive return on equity of 4.87%. The business’s quarterly revenue was down 3.5% on a year-over-year basis. During the same period last year, the business posted $0.99 EPS.

Insiders Place Their Bets

In other news, 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 sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, Director Mary Ann Cloyd sold 1,689 shares of Fresh Del Monte Produce stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $27.20, for a total transaction of $45,940.80. Following the sale, the director now directly owns 22,188 shares in the company, valued at approximately $603,513.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Reyes Jorge Pelaez sold 5,417 shares of the business’s 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. Insiders have sold 10,915 shares of company stock worth $301,603 in the last ninety days. Insiders own 30.10% of the company’s stock.

Hedge Funds Weigh In On Fresh Del Monte Produce

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FDP. American Century Companies Inc. boosted its position in Fresh Del Monte Produce by 29.8% in the second quarter. American Century Companies Inc. now owns 681,344 shares of the company’s stock valued at $14,887,000 after buying an additional 156,344 shares in the last quarter. Vanguard Group Inc. boosted its position in Fresh Del Monte Produce by 3.2% in the first quarter. Vanguard Group Inc. now owns 4,600,314 shares of the company’s stock valued at $119,194,000 after buying an additional 143,363 shares in the last quarter. Millennium Management LLC boosted its position in Fresh Del Monte Produce by 17.5% in the second quarter. Millennium Management LLC now owns 636,423 shares of the company’s stock valued at $13,906,000 after buying an additional 94,854 shares in the last quarter. LSV Asset Management boosted its position in Fresh Del Monte Produce by 31.4% in the second quarter. LSV Asset Management now owns 370,095 shares of the company’s stock valued at $8,087,000 after buying an additional 88,498 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. acquired a new position in Fresh Del Monte Produce in the first quarter valued at about $1,749,000. 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.