Fresh Del Monte Produce (NYSE:DMC) Stock Rating Lowered by Wall Street Zen

Fresh Del Monte Produce (NYSE:DMC) was downgraded by Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued to investors on Saturday, Wall Street Zen reports.

Separately, Weiss Ratings started coverage on Fresh Del Monte Produce in a research note on Wednesday, August 5th. They issued a “hold (c)” rating on the stock. One analyst has rated the stock with a Hold rating. According to data from MarketBeat.com, the company currently has an average rating of “Hold”.

Fresh Del Monte Produce Stock Performance

Shares of NYSE:DMC opened at $27.33 on Friday. Fresh Del Monte Produce has a fifty-two week low of $26.47 and a fifty-two week high of $43.58. The stock has a market cap of $1.29 billion, a P/E ratio of 15.98 and a beta of 0.25. The company has a quick ratio of 0.93, a current ratio of 2.30 and a debt-to-equity ratio of 0.24. The business has a 50-day moving average of $30.52.

Fresh Del Monte Produce (NYSE:DMC) last announced its quarterly earnings results on Thursday, October 29th. The company reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $0.04. The company had revenue of $1.10 billion for the quarter. Fresh Del Monte Produce had a net margin of 1.86% and a return on equity of 5.96%. Fresh Del Monte Produce’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.69 EPS.

Insider Buying and Selling

In other news, COO Mohammed Abbas purchased 12,000 shares of Fresh Del Monte Produce stock in a transaction dated Tuesday, August 4th. The shares were bought at an average cost of $29.89 per share, for a total transaction of $358,680.00. Following the completion of the acquisition, the chief operating officer owned 71,930 shares in the company, valued at approximately $2,149,987.70. This trade represents a 20.02% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 30.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Integrated Wealth Concepts LLC bought a new position in shares of Fresh Del Monte Produce during the second quarter valued at $26,000. Fortitude Family Office LLC purchased a new stake in Fresh Del Monte Produce during the 3rd quarter valued at about $61,000. Farther Finance Advisors LLC acquired a new position in shares of Fresh Del Monte Produce in the third quarter worth $84,000. Signaturefd LLC increased its position in Fresh Del Monte Produce by 212.0% during the third quarter. Signaturefd LLC now owns 4,374 shares of the company’s stock worth $131,000 after buying an additional 2,972 shares during the period. Finally, Moss Adams Wealth Advisors LLC acquired a new stake in shares of Fresh Del Monte Produce during the 3rd quarter valued at approximately $201,000. Hedge funds and other institutional investors own 64.83% of the company’s stock.

Fresh Del Monte Produce Company Profile

Fresh Del Monte Produce Inc is a vertically integrated producer, distributor and marketer of fresh and prepared fruits and vegetables. Its product portfolio includes bananas, pineapples, melons, avocados, berries, grapes, tomatoes and other fresh produce, along with prepared fruit, vegetables, juices and snacks sold under the Del Monte brand and other labels.

The company manages activities across the produce supply chain, including cultivation, sourcing, harvesting, processing, packaging, transportation and distribution.