Fresh Del Monte Produce (NYSE:FDP) Hits New 52-Week High – Should You Buy?

Fresh Del Monte Produce, Inc. (NYSE:FDP) reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $42.98 and last traded at $41.7170, with a volume of 405758 shares trading hands. The stock had previously closed at $42.35.

Analyst Ratings Changes

FDP has been the subject of several analyst reports. Wall Street Zen raised shares of Fresh Del Monte Produce from a “hold” rating to a “buy” rating in a report on Saturday. Weiss Ratings raised Fresh Del Monte Produce from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, Fresh Del Monte Produce presently has an average rating of “Buy”.

Fresh Del Monte Produce Stock Performance

The company has a quick ratio of 1.06, a current ratio of 2.16 and a debt-to-equity ratio of 0.09. The firm has a market cap of $2.01 billion, a P/E ratio of 22.59 and a beta of 0.30. The business has a fifty day simple moving average of $38.05 and a 200-day simple moving average of $36.49.

Fresh Del Monte Produce (NYSE:FDP) last released its earnings results on Wednesday, February 18th. The company reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.28 by $0.42. Fresh Del Monte Produce had a net margin of 2.10% and a return on equity of 7.63%. The firm had revenue of $968.20 million for the quarter, compared to the consensus estimate of $1.01 billion. During the same period in the prior year, the firm earned $0.26 EPS. The company’s revenue was up .6% compared to the same quarter last year.

Fresh Del Monte Produce Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 27th. Stockholders of record on Wednesday, March 4th will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 2.8%. The ex-dividend date is Wednesday, March 4th. Fresh Del Monte Produce’s dividend payout ratio (DPR) is presently 63.83%.

Insider Buying and Selling at Fresh Del Monte Produce

In related news, CEO Ghazaleh Mohammad Abu sold 28,558 shares of the company’s stock in a transaction that occurred on Monday, December 15th. The stock was sold at an average price of $38.42, for a total value of $1,097,198.36. Following the sale, the chief executive officer owned 4,962,224 shares in the company, valued at $190,648,646.08. This represents a 0.57% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 30.10% of the stock is owned by insiders.

Institutional Investors Weigh In On Fresh Del Monte Produce

A number of institutional investors have recently modified their holdings of the stock. EverSource Wealth Advisors LLC raised its position in shares of 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 purchasing an additional 766 shares during the last quarter. Larson Financial Group LLC increased its stake in Fresh Del Monte Produce by 1,488.5% during the 3rd 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. raised its holdings 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 worth $35,000 after buying an additional 750 shares during the last quarter. Leonteq Securities AG purchased a new position in Fresh Del Monte Produce in the fourth quarter worth about $39,000. Finally, Aster Capital Management DIFC Ltd bought a new position in shares of Fresh Del Monte Produce in the fourth quarter worth approximately $61,000. 64.83% of the stock is owned by hedge funds and other institutional investors.

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.