StockNews.com Begins Coverage on Fresh Del Monte Produce (NYSE:FDP)

StockNews.com initiated coverage on shares of Fresh Del Monte Produce (NYSE:FDP – Get Rating) in a research report released on Thursday morning. The brokerage issued a hold rating on the stock.

Fresh Del Monte Produce Stock Down 3.1 %

Fresh Del Monte Produce stock opened at $29.34 on Thursday. The stock has a market cap of $1.40 billion, a price-to-earnings ratio of 14.31 and a beta of 0.67. The company has a current ratio of 2.05, a quick ratio of 0.94 and a debt-to-equity ratio of 0.28. The company’s 50-day moving average price is $29.04 and its two-hundred day moving average price is $27.12. Fresh Del Monte Produce has a 52 week low of $22.63 and a 52 week high of $32.49.

Fresh Del Monte Produce (NYSE:FDP – Get Rating) last released its earnings results on Wednesday, February 22nd. The company reported $0.45 EPS for the quarter, beating the consensus estimate of ($0.05) by $0.50. The firm had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $1.03 billion. Fresh Del Monte Produce had a net margin of 2.22% and a return on equity of 4.97%. Fresh Del Monte Produce’s quarterly revenue was up 2.2% on a year-over-year basis. During the same quarter last year, the company earned ($0.18) EPS.

Fresh Del Monte Produce Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 31st. Shareholders of record on Wednesday, March 8th will be paid a dividend of $0.15 per share. The ex-dividend date is Tuesday, March 7th. This represents a $0.60 annualized dividend and a yield of 2.04%. Fresh Del Monte Produce’s payout ratio is 29.27%.

Insider Buying and Selling at Fresh Del Monte Produce

In other news, SVP Hans Sauter sold 1,499 shares of the firm’s stock in a transaction dated Thursday, March 9th. The shares were sold at an average price of $30.76, for a total transaction of $46,109.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, SVP Hans Sauter sold 1,499 shares of the firm’s stock in a transaction dated Thursday, March 9th. The shares were sold at an average price of $30.76, for a total transaction of $46,109.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Sergio Mancilla sold 1,485 shares of the firm’s stock in a transaction dated Monday, March 13th. The shares were sold at an average price of $30.20, for a total transaction of $44,847.00. Following the transaction, the vice president now owns 68 shares of the company’s stock, valued at approximately $2,053.60. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 3,677 shares of company stock valued at $112,788. Company insiders own 36.96% of the company’s stock.

Hedge Funds Weigh In On Fresh Del Monte Produce

Several large investors have recently made changes to their positions in FDP. Quantbot Technologies LP acquired a new position in shares of Fresh Del Monte Produce in the second quarter worth about $32,000. Clear Street Markets LLC acquired a new position in shares of Fresh Del Monte Produce in the third quarter worth about $35,000. Point72 Hong Kong Ltd acquired a new position in shares of Fresh Del Monte Produce in the third quarter worth about $42,000. Federated Hermes Inc. acquired a new position in shares of Fresh Del Monte Produce in the third quarter worth about $42,000. Finally, Royal Bank of Canada boosted its holdings in shares of Fresh Del Monte Produce by 247.3% in the third 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 period. Institutional investors own 64.82% of the company’s stock.

Fresh Del Monte Produce Company Profile

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Fresh Del Monte Produce, Inc engages in production and distribution of fresh fruit and vegetables products. It operates through the following segments: Bananas and Fresh and Value-added products segments. The Bananas segment produces banana. The Fresh and Value-added products segment includes sales of pineapples, melons, non-tropical fruit (including grapes, apples, citrus, blueberries, strawberries, pears, peaches, plums, nectarines, cherries and kiwis), other fruit and vegetables, avocados, fresh-cut fruit and vegetables, prepared fruit and vegetables, juices, other beverages, prepared meals and snacks.