Fresh Del Monte Produce (NYSE:FDP) Sets New 52-Week Low – Here’s Why

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

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Weiss Ratings downgraded Fresh Del Monte Produce from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, June 17th. Wall Street Zen downgraded shares of Fresh Del Monte Produce from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat, Fresh Del Monte Produce currently has an average rating of “Hold”.

Fresh Del Monte Produce Stock Performance

The firm has a 50-day simple moving average of $34.78 and a two-hundred day simple moving average of $37.68. The company has a current ratio of 2.34, a quick ratio of 1.10 and a debt-to-equity ratio of 0.22. The company has a market capitalization of $1.28 billion, a price-to-earnings ratio of 18.54 and a beta of 0.22.

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

Fresh Del Monte Produce Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 11th. Shareholders of record on Tuesday, May 19th were paid a $0.30 dividend. The ex-dividend date was Tuesday, May 19th. This represents a $1.20 dividend on an annualized basis and a yield of 4.5%. Fresh Del Monte Produce’s payout ratio is 82.76%.

Insider Activity at Fresh Del Monte Produce

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

Institutional Trading of Fresh Del Monte Produce

Institutional investors and hedge funds have recently made changes to their positions in the stock. EverSource Wealth Advisors LLC boosted its stake in shares of 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 acquiring an additional 766 shares in the last quarter. Larson Financial Group LLC raised its stake in shares of 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 acquiring an additional 908 shares in the last quarter. Geneos Wealth Management Inc. lifted its holdings in Fresh Del Monte Produce by 238.1% in the 2nd quarter. Geneos Wealth Management Inc. now owns 1,065 shares of the company’s stock worth $35,000 after purchasing an additional 750 shares during the last quarter. Leonteq Securities AG acquired a new stake in Fresh Del Monte Produce in the 4th quarter worth approximately $39,000. Finally, Aster Capital Management DIFC Ltd bought a new stake in Fresh Del Monte Produce during the fourth quarter worth approximately $61,000. Institutional investors and hedge funds 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.