Fresh Del Monte Produce (NYSE:FDP) Downgraded by Wall Street Zen to “Hold”

Wall Street Zen downgraded shares of Fresh Del Monte Produce (NYSE:FDP) from a buy rating to a hold rating in a research note published on Saturday morning.

Separately, Weiss Ratings upgraded shares of Fresh Del Monte Produce from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, February 23rd. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat, the stock has a consensus rating of “Buy”.

Fresh Del Monte Produce Trading Down 1.9%

Shares of FDP stock opened at $36.82 on Friday. Fresh Del Monte Produce has a 52-week low of $31.43 and a 52-week high of $43.58. The stock has a market cap of $1.75 billion, a price-to-earnings ratio of 25.39 and a beta of 0.30. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.06 and a current ratio of 2.34. The firm has a fifty day moving average of $41.46 and a 200-day moving average of $38.65.

Fresh Del Monte Produce (NYSE:FDP) last announced its quarterly earnings data on Tuesday, May 5th. The company reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.01. Fresh Del Monte Produce had a net margin of 1.63% and a return on equity of 7.61%. The company had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.03 billion. During the same quarter in the prior year, the company posted $0.63 EPS. The business’s revenue was down 4.9% on a year-over-year basis.

Fresh Del Monte Produce Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 11th. Investors of record on Tuesday, May 19th will be given a dividend of $0.30 per share. The ex-dividend date is Tuesday, May 19th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.3%. Fresh Del Monte Produce’s dividend payout ratio (DPR) is 82.76%.

Insider Buying and Selling at Fresh Del Monte Produce

In other Fresh Del Monte Produce news, SVP Ziad Nabulsi sold 7,395 shares of the stock in a transaction dated Friday, March 6th. The shares were sold at an average price of $42.01, for a total transaction of $310,663.95. Following the sale, the senior vice president owned 8,397 shares of the company’s stock, valued at $352,757.97. This represents a 46.83% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Effie D. Silva sold 5,894 shares of the stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $41.94, for a total transaction of $247,194.36. Following the sale, the senior vice president directly owned 8,536 shares in the company, valued at approximately $357,999.84. This represents a 40.85% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 33,151 shares of company stock worth $1,391,225 over the last ninety days. Company insiders own 30.60% of the company’s stock.

Institutional Investors Weigh In On Fresh Del Monte Produce

A number of hedge funds have recently added to or reduced their stakes in FDP. Wasatch Advisors LP bought a new stake in Fresh Del Monte Produce during the 2nd quarter worth about $44,011,000. Fisher Asset Management LLC bought a new stake in Fresh Del Monte Produce during the 4th quarter worth about $21,174,000. Millennium Management LLC boosted its stake in shares of Fresh Del Monte Produce by 1,647.2% in the 1st quarter. Millennium Management LLC now owns 596,496 shares of the company’s stock valued at $18,390,000 after purchasing an additional 562,356 shares during the last quarter. LSV Asset Management boosted its stake in shares of Fresh Del Monte Produce by 20.2% in the 3rd quarter. LSV Asset Management now owns 1,731,248 shares of the company’s stock valued at $60,109,000 after purchasing an additional 291,290 shares during the last quarter. Finally, First Trust Advisors LP boosted its stake in shares of Fresh Del Monte Produce by 289.6% in the 2nd quarter. First Trust Advisors LP now owns 243,686 shares of the company’s stock valued at $7,900,000 after purchasing an additional 181,145 shares during the last quarter. 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.