Fresh Del Monte Produce (NYSE:DMC) Sets New 12-Month Low – Here’s Why

Fresh Del Monte Produce Inc (NYSE:DMC)’s share price reached a new 52-week low during trading on Monday. The company traded as low as $26.19 and last traded at $26.3250, with a volume of 193,484 shares. The stock had previously closed at $27.35.

Analyst Ratings Changes

Several analysts have recently commented on DMC shares. Weiss Ratings cut Fresh Del Monte Produce from a “hold (c)” rating to a “hold (c-)” rating in a report on Friday. Wall Street Zen cut Fresh Del Monte Produce from a “buy” rating to a “hold” rating in a report on Saturday. One investment analyst has rated the stock with a Hold rating. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold”.

Fresh Del Monte Produce Stock Performance

The stock has a market cap of $1.35 billion, a PE ratio of 16.80 and a beta of 0.25. The company has a quick ratio of 0.93, a current ratio of 2.30 and a debt-to-equity ratio of 0.24. The stock’s 50-day simple moving average is $30.27.

Fresh Del Monte Produce (NYSE:DMC) last released its earnings results on Thursday, October 29th. The company reported $0.50 EPS for the quarter, beating the consensus estimate of $0.46 by $0.04. Fresh Del Monte Produce had a return on equity of 5.96% and a net margin of 1.86%. The company had revenue of $1.10 billion during the quarter. During the same period last year, the business posted $0.69 earnings per share. The firm’s quarterly revenue was up 7.2% on a year-over-year basis.

Fresh Del Monte Produce Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 4th. Shareholders of record on Wednesday, November 11th will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 4.2%. The ex-dividend date of this dividend is Tuesday, November 10th. Fresh Del Monte Produce’s payout ratio is currently 70.18%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Penn Capital Management Company LLC acquired a new stake in shares of Fresh Del Monte Produce during the 3rd quarter worth approximately $624,000. AlphaCore Capital LLC acquired a new position in Fresh Del Monte Produce in the third quarter valued at approximately $1,350,000. Moss Adams Wealth Advisors LLC acquired a new position in Fresh Del Monte Produce in the third quarter valued at approximately $201,000. MGO One Seven LLC bought a new position in Fresh Del Monte Produce in the third quarter valued at approximately $233,000. Finally, Signaturefd LLC boosted its stake in Fresh Del Monte Produce by 212.0% in the third quarter. Signaturefd LLC now owns 4,374 shares of the company’s stock valued at $131,000 after acquiring an additional 2,972 shares during the last quarter. 64.83% of the stock is currently owned by institutional investors and hedge funds.

About Fresh Del Monte Produce

Fresh Del Monte Produce Inc is a vertically integrated producer, distributor and marketer of fresh and prepared fruits and vegetables. Its product portfolio includes bananas, pineapples, melons, avocados, berries, grapes, tomatoes and other fresh produce, along with prepared fruit, vegetables, juices and snacks sold under the Del Monte brand and other labels.

The company manages activities across the produce supply chain, including cultivation, sourcing, harvesting, processing, packaging, transportation and distribution.