Fresh Del Monte Produce Inc. (NYSE:FDP) Short Interest Up 152.1% in December

Fresh Del Monte Produce Inc. (NYSE:FDP) was the recipient of a significant growth in short interest in the month of December. As of December 31st, there was short interest totalling 647,500 shares, a growth of 152.1% from the December 15th total of 256,800 shares. Based on an average daily volume of 288,200 shares, the days-to-cover ratio is currently 2.2 days. Approximately 1.6% of the company’s shares are sold short.

Fresh Del Monte Produce Trading Down 0.2 %

Shares of FDP opened at $31.38 on Thursday. The company has a current ratio of 2.09, a quick ratio of 1.04 and a debt-to-equity ratio of 0.14. Fresh Del Monte Produce has a 12-month low of $21.23 and a 12-month high of $35.27. The firm has a 50-day moving average price of $33.31 and a 200 day moving average price of $29.49. The firm has a market capitalization of $1.50 billion, a P/E ratio of 95.09 and a beta of 0.41.

Fresh Del Monte Produce (NYSE:FDP) last announced its quarterly earnings data on Thursday, October 31st. The company reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.47 by $0.30. Fresh Del Monte Produce had a net margin of 0.36% and a return on equity of 5.91%. The firm had revenue of $1.02 billion during the quarter, compared to analyst estimates of $989.45 million. During the same quarter in the prior year, the firm posted $0.35 earnings per share. Fresh Del Monte Produce’s quarterly revenue was up 1.6% on a year-over-year basis.

Fresh Del Monte Produce Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Thursday, November 14th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 3.19%. The ex-dividend date of this dividend was Thursday, November 14th. Fresh Del Monte Produce’s dividend payout ratio (DPR) is presently 303.04%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Canada Pension Plan Investment Board purchased a new position in shares of Fresh Del Monte Produce in the second quarter valued at approximately $68,000. GAMMA Investing LLC raised its holdings in Fresh Del Monte Produce by 125.9% during the third quarter. GAMMA Investing LLC now owns 3,624 shares of the company’s stock worth $107,000 after purchasing an additional 2,020 shares in the last quarter. nVerses Capital LLC raised its holdings in Fresh Del Monte Produce by 200.0% during the third quarter. nVerses Capital LLC now owns 3,900 shares of the company’s stock worth $115,000 after purchasing an additional 2,600 shares in the last quarter. Point72 DIFC Ltd acquired a new stake in Fresh Del Monte Produce during the second quarter worth approximately $91,000. Finally, Royce & Associates LP acquired a new stake in Fresh Del Monte Produce during the third quarter worth 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, 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.