Fresh Del Monte Produce (NYSE:FDP) Stock Price Crosses Above 200 Day Moving Average – Here’s What Happened

Fresh Del Monte Produce, Inc. (NYSE:FDP)’s stock price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $37.24 and traded as high as $42.22. Fresh Del Monte Produce shares last traded at $41.9950, with a volume of 639,036 shares.

Wall Street Analysts Forecast Growth

FDP has been the topic of several analyst reports. Wall Street Zen upgraded shares of Fresh Del Monte Produce from a “hold” rating to a “buy” rating in a report on Saturday, February 21st. Weiss Ratings raised shares of Fresh Del Monte Produce from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, February 23rd. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, Fresh Del Monte Produce currently has a consensus rating of “Buy”.

Fresh Del Monte Produce Stock Down 0.3%

The firm has a 50 day simple moving average of $40.46 and a two-hundred day simple moving average of $37.32. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.16 and a quick ratio of 1.06. The stock has a market cap of $2.01 billion, a price-to-earnings ratio of 22.57 and a beta of 0.28.

Fresh Del Monte Produce (NYSE:FDP) last posted its earnings results on Wednesday, February 18th. The company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.42. The company had revenue of $968.20 million during the quarter, compared to analyst estimates of $1.01 billion. Fresh Del Monte Produce had a return on equity of 7.63% and a net margin of 2.10%.The company’s revenue for the quarter was up .6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.26 EPS.

Fresh Del Monte Produce Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 27th. Investors of record on Wednesday, March 4th will be issued a dividend of $0.30 per share. The ex-dividend date is Wednesday, March 4th. This represents a $1.20 dividend on an annualized basis and a yield of 2.8%. Fresh Del Monte Produce’s payout ratio is currently 63.83%.

Insider Transactions at Fresh Del Monte Produce

In other news, SVP Gianpaolo Renino sold 6,297 shares of the business’s stock in a transaction on Friday, March 6th. The shares were sold at an average price of $41.46, for a total value of $261,073.62. Following the completion of the transaction, the senior vice president owned 3,198 shares of the company’s stock, valued at $132,589.08. The trade was a 66.32% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Effie D. Silva sold 5,894 shares of the company’s stock in a transaction on Monday, March 9th. The shares were sold at an average price of $41.94, for a total transaction of $247,194.36. Following the completion of the sale, the senior vice president owned 8,536 shares of the company’s stock, 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. In the last three months, insiders have sold 32,105 shares of company stock valued at $1,348,967. Corporate insiders own 31.60% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FDP. EverSource Wealth Advisors LLC raised its position in shares of Fresh Del Monte Produce by 390.8% during the second quarter. EverSource Wealth Advisors LLC now owns 962 shares of the company’s stock worth $31,000 after purchasing an additional 766 shares during the period. Larson Financial Group LLC grew its position in shares of Fresh Del Monte Produce by 1,488.5% in the 3rd quarter. Larson Financial Group LLC now owns 969 shares of the company’s stock valued at $34,000 after purchasing an additional 908 shares during the period. Geneos Wealth Management Inc. grew its position in shares of Fresh Del Monte Produce by 238.1% in the 2nd quarter. Geneos Wealth Management Inc. now owns 1,065 shares of the company’s stock valued at $35,000 after purchasing an additional 750 shares during the period. Leonteq Securities AG bought a new stake in Fresh Del Monte Produce during the 4th quarter worth approximately $39,000. Finally, Aster Capital Management DIFC Ltd bought a new stake in Fresh Del Monte Produce during the 4th quarter worth approximately $61,000. 64.83% of the stock is currently owned by institutional investors.

About Fresh Del Monte Produce

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.