Fresh Del Monte Produce (NYSE:FDP) Shares Cross Above 200-Day Moving Average of $24.80

Fresh Del Monte Produce Inc. (NYSE:FDP) shares passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $24.80 and traded as high as $25.39. Fresh Del Monte Produce shares last traded at $25.36, with a volume of 149,739 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, TheStreet downgraded Fresh Del Monte Produce from a “b-” rating to a “c” rating in a report on Monday, February 26th.

Fresh Del Monte Produce Price Performance

The firm has a market capitalization of $1.21 billion, a price-to-earnings ratio of -101.44 and a beta of 0.56. The company has a fifty day moving average price of $24.69 and a two-hundred day moving average price of $24.80. The company has a quick ratio of 1.01, a current ratio of 2.12 and a debt-to-equity ratio of 0.21.

Fresh Del Monte Produce (NYSE:FDP) last issued its quarterly earnings results on Monday, February 26th. The company reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.31 by ($0.06). Fresh Del Monte Produce had a positive return on equity of 5.11% and a negative net margin of 0.26%. The company had revenue of $1.01 billion for the quarter, compared to analyst estimates of $1.03 billion. During the same period in the prior year, the business earned $0.45 earnings per share. Fresh Del Monte Produce’s revenue for the quarter was down 3.0% compared to the same quarter last year.

Fresh Del Monte Produce Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Thursday, March 7th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Wednesday, March 6th. This is an increase from Fresh Del Monte Produce’s previous quarterly dividend of $0.20. This represents a $1.00 annualized dividend and a dividend yield of 3.94%. Fresh Del Monte Produce’s dividend payout ratio (DPR) is currently -400.00%.

Insider Buying and Selling

In other Fresh Del Monte Produce news, Director Ghazaleh Amir Abu acquired 10,000 shares of the business’s stock in a transaction on Wednesday, February 28th. The stock was purchased at an average price of $23.62 per share, for a total transaction of $236,200.00. Following the completion of the transaction, the director now owns 3,264,308 shares of the company’s stock, valued at approximately $77,102,954.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, Director Ghazaleh Amir Abu purchased 10,000 shares of the company’s stock in a transaction dated Wednesday, February 28th. The stock was acquired at an average price of $23.62 per share, for a total transaction of $236,200.00. Following the completion of the transaction, the director now directly owns 3,264,308 shares in the company, valued at approximately $77,102,954.96. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Monica Vicente sold 1,083 shares of the firm’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $24.35, for a total value of $26,371.05. Following the completion of the transaction, the chief financial officer now owns 5,266 shares of the company’s stock, valued at approximately $128,227.10. The disclosure for this sale can be found here. Insiders sold a total of 10,569 shares of company stock valued at $258,509 over the last three months. 29.70% of the stock is currently owned by company insiders.

Institutional Trading of Fresh Del Monte Produce

Large investors have recently made changes to their positions in the stock. Parallel Advisors LLC boosted its stake in Fresh Del Monte Produce by 197.6% in the 4th quarter. Parallel Advisors LLC now owns 1,119 shares of the company’s stock worth $29,000 after buying an additional 743 shares during the last quarter. Quantbot Technologies LP acquired a new stake in Fresh Del Monte Produce in the 2nd quarter worth about $32,000. Strs Ohio acquired a new stake in Fresh Del Monte Produce in the 3rd quarter worth about $41,000. Federated Hermes Inc. acquired a new stake in Fresh Del Monte Produce in the 3rd quarter worth about $42,000. Finally, Royal Bank of Canada boosted its stake in Fresh Del Monte Produce by 247.3% in the 3rd quarter. Royal Bank of Canada now owns 1,813 shares of the company’s stock worth $43,000 after buying an additional 1,291 shares during the last quarter. Institutional investors and hedge funds own 64.83% of the company’s stock.

Fresh Del Monte Produce Company Profile

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.