Fresh Del Monte Produce (NYSE:FDP) Stock Price Up 4.1%

Fresh Del Monte Produce Inc. (NYSE:FDP)’s stock price shot up 4.1% during trading on Wednesday . The company traded as high as $23.29 and last traded at $23.29. 98,837 shares traded hands during mid-day trading, a decline of 58% from the average session volume of 237,229 shares. The stock had previously closed at $22.38.

Fresh Del Monte Produce Trading Down 1.3 %

The firm has a 50 day simple moving average of $22.68 and a 200 day simple moving average of $24.20. The firm has a market cap of $1.12 billion, a P/E ratio of -45.86 and a beta of 0.44. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.11 and a current ratio of 2.16.

Fresh Del Monte Produce (NYSE:FDP) last posted its quarterly earnings results on Thursday, May 2nd. The company reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.60 by ($0.26). The business had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.15 billion. Fresh Del Monte Produce had a positive return on equity of 4.59% and a negative net margin of 0.56%. The business’s revenue for the quarter was down 1.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.55 earnings per share.

Fresh Del Monte Produce Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 7th. Stockholders of record on Thursday, May 16th were paid a $0.25 dividend. The ex-dividend date was Wednesday, May 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.26%. Fresh Del Monte Produce’s dividend payout ratio (DPR) is presently -196.07%.

Insider Activity at Fresh Del Monte Produce

In other news, Director Michael J. Berthelot sold 5,800 shares of the firm’s stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $23.64, for a total value of $137,112.00. Following the completion of the sale, the director now owns 13,916 shares in the company, valued at approximately $328,974.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Fresh Del Monte Produce news, SVP Marissa R. Tenazas acquired 2,000 shares of the firm’s stock in a transaction on Friday, June 14th. The stock was acquired at an average cost of $21.85 per share, for a total transaction of $43,700.00. Following the purchase, the senior vice president now owns 2,108 shares in the company, valued at approximately $46,059.80. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Michael J. Berthelot sold 5,800 shares of Fresh Del Monte Produce stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $23.64, for a total transaction of $137,112.00. Following the sale, the director now owns 13,916 shares of the company’s stock, valued at $328,974.24. The disclosure for this sale can be found here. 30.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Fresh Del Monte Produce

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Parallel Advisors LLC lifted its position in Fresh Del Monte Produce by 197.6% in the fourth quarter. Parallel Advisors LLC now owns 1,119 shares of the company’s stock valued at $29,000 after buying an additional 743 shares during the last quarter. GAMMA Investing LLC grew its position in shares of Fresh Del Monte Produce by 232.1% during the second quarter. GAMMA Investing LLC now owns 1,604 shares of the company’s stock worth $35,000 after acquiring an additional 1,121 shares during the last quarter. Lazard Asset Management LLC acquired a new stake in shares of Fresh Del Monte Produce during the first quarter worth $48,000. EntryPoint Capital LLC acquired a new stake in shares of Fresh Del Monte Produce during the first quarter worth $49,000. Finally, Advisors Asset Management Inc. acquired a new stake in Fresh Del Monte Produce in the first quarter valued at $174,000. Hedge funds and other institutional investors own 64.83% of the company’s stock.

About Fresh Del Monte Produce

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.