Fresh Del Monte Produce (NYSE:FDP) Shares Cross Above 200-Day Moving Average of $24.80

Fresh Del Monte Produce Inc. (NYSE:FDP) shares crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $24.80 and traded as high as $25.39. Fresh Del Monte Produce shares last traded at $25.36, with a volume of 149,739 shares.

Analyst Upgrades and Downgrades

Separately, TheStreet downgraded shares of Fresh Del Monte Produce from a “b-” rating to a “c” rating in a research note on Monday, February 26th.

Fresh Del Monte Produce Stock Performance

The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.01 and a current ratio of 2.12. The stock’s 50 day simple moving average is $24.73 and its two-hundred day simple moving average is $24.80.

Fresh Del Monte Produce (NYSE:FDP) last posted its quarterly earnings results on Monday, February 26th. The company reported $0.25 earnings per share for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.06). Fresh Del Monte Produce had a positive return on equity of 5.11% and a negative net margin of 0.26%. The business had revenue of $1.01 billion for the quarter, compared to analyst estimates of $1.03 billion. During the same quarter in the prior year, the firm earned $0.45 EPS. The firm’s quarterly revenue was down 3.0% on a year-over-year basis.

Fresh Del Monte Produce Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Thursday, March 7th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Wednesday, March 6th. This is a boost from Fresh Del Monte Produce’s previous quarterly dividend of $0.20. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.88%. Fresh Del Monte Produce’s dividend payout ratio (DPR) is presently -400.00%.

Insider Buying and Selling at Fresh Del Monte Produce

In other Fresh Del Monte Produce news, CFO Monica Vicente sold 1,083 shares of Fresh Del Monte Produce stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $24.35, for a total transaction of $26,371.05. Following the completion of the transaction, the chief financial officer now directly owns 5,266 shares of the company’s stock, valued at $128,227.10. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CFO Monica Vicente sold 1,083 shares of Fresh Del Monte Produce stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $24.35, for a total value of $26,371.05. Following the completion of the transaction, the chief financial officer now directly owns 5,266 shares of the company’s stock, valued at $128,227.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Mohammed Abbas sold 3,222 shares of Fresh Del Monte Produce stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $24.35, for a total value of $78,455.70. Following the completion of the transaction, the chief operating officer now directly owns 29,945 shares of the company’s stock, valued at $729,160.75. The disclosure for this sale can be found here. Over the last three months, insiders sold 10,569 shares of company stock valued at $258,509. 29.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Fresh Del Monte Produce

Several institutional investors have recently modified their holdings of the stock. Norges Bank acquired a new position in shares of Fresh Del Monte Produce in the 4th quarter valued at approximately $7,325,000. Allianz Asset Management GmbH grew its position in shares of Fresh Del Monte Produce by 107.6% in the 4th quarter. Allianz Asset Management GmbH now owns 477,811 shares of the company’s stock valued at $12,543,000 after purchasing an additional 247,702 shares during the period. Advisors Preferred LLC acquired a new position in shares of Fresh Del Monte Produce in the 3rd quarter valued at approximately $4,389,000. Arrowstreet Capital Limited Partnership acquired a new position in shares of Fresh Del Monte Produce in the 4th quarter valued at approximately $4,377,000. Finally, Invesco Ltd. grew its position in shares of Fresh Del Monte Produce by 19.3% in the 1st quarter. Invesco Ltd. now owns 817,312 shares of the company’s stock valued at $21,177,000 after purchasing an additional 132,234 shares during the period. 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.