Fresh Del Monte Produce (NYSE:FDP) Sets New 52-Week Low – What’s Next?

Fresh Del Monte Produce, Inc. (NYSE:FDP)’s share price reached a new 52-week low during trading on Tuesday . The stock traded as low as $26.47 and last traded at $26.89, with a volume of 835268 shares traded. The stock had previously closed at $27.44.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on FDP shares. Wall Street Zen lowered shares of Fresh Del Monte Produce from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Weiss Ratings cut shares of Fresh Del Monte Produce from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, June 17th. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat.com, the stock presently has a consensus rating of “Hold”.

Fresh Del Monte Produce Trading Up 3.7%

The business has a 50 day moving average of $34.23 and a 200 day moving average of $37.56. The firm has a market capitalization of $1.37 billion, a price-to-earnings ratio of 19.92 and a beta of 0.22. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.34 and a quick ratio of 1.10.

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

Fresh Del Monte Produce Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, June 11th. Shareholders of record on Tuesday, May 19th were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Tuesday, May 19th. This represents a $1.20 dividend on an annualized basis and a yield of 4.2%. Fresh Del Monte Produce’s dividend payout ratio is 82.76%.

Insider Buying and Selling at Fresh Del Monte Produce

In other Fresh Del Monte Produce news, Director Ahmad Abu-Ghazaleh bought 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 11th. The stock was acquired at an average price of $29.41 per share, with a total value of $117,640.00. Following the completion of the transaction, the director owned 4,000 shares in the company, valued at approximately $117,640. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Marissa R. Tenazas sold 1,046 shares of the firm’s stock in a transaction on Thursday, April 2nd. The shares were sold at an average price of $40.40, for a total transaction of $42,258.40. Following the completion of the transaction, the senior vice president directly owned 8,050 shares of the company’s stock, valued at approximately $325,220. This trade represents a 11.50% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 30.60% of the company’s stock.

Hedge Funds Weigh In On Fresh Del Monte Produce

Several hedge funds have recently modified their holdings of the stock. EverSource Wealth Advisors LLC raised its holdings in Fresh Del Monte Produce by 390.8% during the second quarter. EverSource Wealth Advisors LLC now owns 962 shares of the company’s stock worth $31,000 after acquiring an additional 766 shares in the last quarter. Larson Financial Group LLC grew its stake in Fresh Del Monte Produce by 1,488.5% in the third quarter. Larson Financial Group LLC now owns 969 shares of the company’s stock valued at $34,000 after purchasing an additional 908 shares in the last quarter. Geneos Wealth Management Inc. grew its stake in Fresh Del Monte Produce by 238.1% in the second quarter. Geneos Wealth Management Inc. now owns 1,065 shares of the company’s stock valued at $35,000 after purchasing an additional 750 shares in the last quarter. Leonteq Securities AG acquired a new position in shares of Fresh Del Monte Produce during the 4th quarter worth approximately $39,000. Finally, Aster Capital Management DIFC Ltd acquired a new position in shares of Fresh Del Monte Produce during the 4th quarter worth approximately $61,000. 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.