Fresh Del Monte Produce (NYSE:FDP) Sets New 12-Month Low – Time to Sell?

Shares of Fresh Del Monte Produce, Inc. (NYSE:FDP) reached a new 52-week low during mid-day trading on Monday . The stock traded as low as $29.01 and last traded at $28.7650, with a volume of 47639 shares trading hands. The stock had previously closed at $29.52.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Weiss Ratings cut Fresh Del Monte Produce from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, May 11th. Wall Street Zen cut Fresh Del Monte Produce from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat.com, the stock currently has a consensus rating of “Hold”.

Fresh Del Monte Produce Price Performance

The company has a current ratio of 2.34, a quick ratio of 1.10 and a debt-to-equity ratio of 0.22. The stock has a market capitalization of $1.36 billion, a PE ratio of 19.67 and a beta of 0.22. The firm has a 50 day moving average price of $37.67 and a 200 day moving average price of $38.25.

Fresh Del Monte Produce (NYSE:FDP) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $0.63 EPS for the quarter, topping the consensus estimate of $0.62 by $0.01. The firm had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.03 billion. Fresh Del Monte Produce had a return on equity of 7.61% and a net margin of 1.63%.Fresh Del Monte Produce’s revenue was down 4.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.63 EPS.

Fresh Del Monte Produce Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 11th. Stockholders of record on Tuesday, May 19th will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 4.2%. The ex-dividend date is Tuesday, May 19th. Fresh Del Monte Produce’s dividend payout ratio is 82.76%.

Insider Activity at Fresh Del Monte Produce

In other news, SVP Marissa R. Tenazas sold 1,046 shares of the company’s stock in a transaction on Thursday, April 2nd. The stock was sold at an average price of $40.40, for a total value of $42,258.40. Following the completion of the sale, the senior vice president directly owned 8,050 shares in the company, valued at $325,220. This represents a 11.50% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. 30.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On Fresh Del Monte Produce

A number of institutional investors have recently bought and sold shares of FDP. EverSource Wealth Advisors LLC increased its stake in Fresh Del Monte Produce by 390.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 962 shares of the company’s stock worth $31,000 after buying an additional 766 shares in the last quarter. Larson Financial Group LLC increased its stake in Fresh Del Monte Produce by 1,488.5% in the 3rd quarter. Larson Financial Group LLC now owns 969 shares of the company’s stock worth $34,000 after buying an additional 908 shares in the last quarter. Geneos Wealth Management Inc. increased its stake in Fresh Del Monte Produce by 238.1% in the 2nd quarter. Geneos Wealth Management Inc. now owns 1,065 shares of the company’s stock worth $35,000 after buying an additional 750 shares in the last quarter. Leonteq Securities AG purchased a new stake in Fresh Del Monte Produce in the 4th quarter worth $39,000. Finally, Aster Capital Management DIFC Ltd purchased a new stake in Fresh Del Monte Produce in the 4th quarter worth $61,000. Hedge funds and other institutional investors own 64.83% of the company’s stock.

About Fresh Del Monte Produce

Fresh Del Monte Produce Inc is a leading producer, marketer and distributor of fresh and fresh-cut fruits and vegetables worldwide. The company offers a wide range of products including bananas, pineapples, melons, grapes and avocados, along with value-added items such as fruit salads, vegetable trays and snack packs under the Del Monte® brand.

Founded in 1989 as a spin-off from Del Monte, Fresh Del Monte has developed a global supply chain that spans production farms, ripening facilities and packaging centers across Latin America, North America, Europe, Asia and Africa.