Fresh Del Monte Produce (NYSE:FDP) Stock Price Down 5.4% – Here’s What Happened

Fresh Del Monte Produce, Inc. (NYSE:FDP) shares traded down 5.4% during trading on Tuesday . The company traded as low as $37.60 and last traded at $38.1820. 89,692 shares traded hands during mid-day trading, a decline of 65% from the average session volume of 259,289 shares. The stock had previously closed at $40.35.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Weiss Ratings raised Fresh Del Monte Produce from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, February 23rd. Wall Street Zen raised Fresh Del Monte Produce from a “hold” rating to a “buy” rating in a research note on Saturday, February 21st. One investment analyst has rated the stock with a Buy rating, According to MarketBeat, Fresh Del Monte Produce has a consensus rating of “Buy”.

Fresh Del Monte Produce Stock Performance

The firm’s fifty day moving average price is $41.46 and its 200 day moving average price is $38.65. The company has a current ratio of 2.34, a quick ratio of 1.06 and a debt-to-equity ratio of 0.22. The stock has a market capitalization of $1.79 billion, a price-to-earnings ratio of 25.94 and a beta of 0.30.

Fresh Del Monte Produce (NYSE:FDP) last posted its earnings results on Wednesday, May 6th. The company reported $0.63 earnings per share 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 firm’s revenue for the quarter was down 4.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.63 EPS.

Fresh Del Monte Produce Announces Dividend

The company 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. The ex-dividend date of this dividend is Tuesday, May 19th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.2%. Fresh Del Monte Produce’s payout ratio is presently 63.83%.

Insider Transactions at Fresh Del Monte Produce

In related news, SVP Ziad Nabulsi sold 7,395 shares of the business’s stock in a transaction on Friday, March 6th. The stock was sold at an average price of $42.01, for a total value of $310,663.95. Following the sale, the senior vice president owned 8,397 shares in the company, valued at approximately $352,757.97. The trade was a 46.83% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Effie D. Silva sold 5,894 shares of the firm’s stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $41.94, for a total value of $247,194.36. Following the transaction, the senior vice president owned 8,536 shares of the company’s stock, valued at $357,999.84. This trade represents a 40.85% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 33,151 shares of company stock worth $1,391,225. 30.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. EverSource Wealth Advisors LLC increased its stake in Fresh Del Monte Produce by 390.8% during 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 during the period. Larson Financial Group LLC boosted its position 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 valued at $34,000 after buying an additional 908 shares during the period. Geneos Wealth Management Inc. grew its stake in shares of 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 acquiring an additional 750 shares in the last quarter. Leonteq Securities AG acquired a new position in shares of Fresh Del Monte Produce in the fourth quarter worth $39,000. Finally, Aster Capital Management DIFC Ltd purchased a new stake in shares of Fresh Del Monte Produce during the fourth quarter worth $61,000. Hedge funds and other institutional investors own 64.83% of the company’s stock.

Fresh Del Monte Produce Company Profile

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.