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

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

Wall Street Analyst Weigh In

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 Performance

The company has a debt-to-equity ratio of 0.15, a current ratio of 2.08 and a quick ratio of 1.07. The firm has a market capitalization of $1.58 billion, a P/E ratio of -85.16 and a beta of 0.41. The stock’s 50 day moving average is $29.10 and its two-hundred day moving average is $25.82.

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

Insider Buying and Selling at Fresh Del Monte Produce

In other Fresh Del Monte Produce news, Director Mary Ann Cloyd sold 1,689 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $27.20, for a total value of $45,940.80. Following the completion of the sale, the director now owns 22,188 shares of the company’s stock, valued at approximately $603,513.60. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Mary Ann Cloyd sold 1,689 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $27.20, for a total value of $45,940.80. Following the completion of the transaction, the director now owns 22,188 shares in the company, valued at $603,513.60. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Monica Vicente sold 1,800 shares of the company’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 completion of the transaction, the chief financial officer now owns 3,466 shares of the company’s stock, valued at $95,107.04. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 10,915 shares of company stock valued at $301,603. Corporate insiders own 30.10% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in FDP. nVerses Capital LLC acquired a new position in Fresh Del Monte Produce during the second quarter worth $28,000. GAMMA Investing LLC boosted 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 worth $35,000 after purchasing an additional 1,121 shares during the last quarter. Lazard Asset Management LLC acquired a new position in Fresh Del Monte Produce during the first quarter worth $48,000. EntryPoint Capital LLC acquired a new position in Fresh Del Monte Produce during the first quarter worth $49,000. Finally, Canada Pension Plan Investment Board acquired a new position in Fresh Del Monte Produce during the second quarter worth $68,000. Institutional investors and hedge funds own 64.83% of the company’s stock.

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.