Fresh Del Monte Produce Inc. (NYSE:FDP) Sees Significant Increase in Short Interest

Fresh Del Monte Produce Inc. (NYSE:FDP) was the target of a significant growth in short interest during the month of January. As of January 15th, there was short interest totalling 647,500 shares, a growth of 152.1% from the December 31st total of 256,800 shares. Currently, 1.6% of the company’s shares are short sold. Based on an average trading volume of 288,200 shares, the short-interest ratio is presently 2.2 days.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of FDP. State Street Corp boosted its stake in shares of Fresh Del Monte Produce by 1.2% during the third quarter. State Street Corp now owns 1,306,527 shares of the company’s stock valued at $38,595,000 after purchasing an additional 15,278 shares in the last quarter. Pacer Advisors Inc. bought a new stake in Fresh Del Monte Produce during the 4th quarter valued at $42,522,000. Charles Schwab Investment Management Inc. boosted its position in Fresh Del Monte Produce by 5.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,060,576 shares of the company’s stock valued at $31,329,000 after acquiring an additional 59,521 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Fresh Del Monte Produce by 0.4% in the 3rd quarter. Geode Capital Management LLC now owns 773,116 shares of the company’s stock valued at $22,842,000 after acquiring an additional 2,767 shares during the period. Finally, Millennium Management LLC raised its position in shares of Fresh Del Monte Produce by 17.5% in the 2nd quarter. Millennium Management LLC now owns 636,423 shares of the company’s stock worth $13,906,000 after acquiring an additional 94,854 shares in the last quarter. 64.83% of the stock is currently owned by hedge funds and other institutional investors.

Fresh Del Monte Produce Trading Down 0.3 %

Fresh Del Monte Produce stock traded down $0.08 during mid-day trading on Friday, hitting $31.00. The company’s stock had a trading volume of 28,255 shares, compared to its average volume of 229,671. Fresh Del Monte Produce has a one year low of $21.23 and a one year high of $35.27. The stock has a market cap of $1.49 billion, a PE ratio of 94.06 and a beta of 0.41. The company has a 50 day moving average of $32.76 and a 200-day moving average of $30.18. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.04 and a current ratio of 2.09.

Fresh Del Monte Produce (NYSE:FDP) last issued its earnings results on Thursday, October 31st. The company reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.47 by $0.30. Fresh Del Monte Produce had a net margin of 0.36% and a return on equity of 5.91%. The business had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $989.45 million. During the same period in the prior year, the firm earned $0.35 EPS. The company’s revenue for the quarter was up 1.6% compared to the same quarter last year.

About Fresh Del Monte Produce

Fresh Del Monte Produce Inc, through its subsidiaries, produces, markets, and distributes fresh and fresh-cut fruits and vegetables in North America, Central America, South America, Europe, the Middle East, Africa, Asia, and internationally. It operates through three segments: Fresh and Value-Added Products, Banana, and Other Products and Services.