Fresh Del Monte Produce (NYSE:DMC) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Fresh Del Monte Produce (NYSE:DMC) from a hold rating to a buy rating in a research note issued to investors on Saturday,Wall Street Zen reports.

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

Fresh Del Monte Produce Price Performance

DMC opened at $31.45 on Friday. The company has a quick ratio of 1.04, a current ratio of 2.23 and a debt-to-equity ratio of 0.21. Fresh Del Monte Produce has a 12 month low of $26.47 and a 12 month high of $43.58. The firm has a market cap of $1.48 billion, a P/E ratio of 44.29 and a beta of 0.25.

Fresh Del Monte Produce (NYSE:DMC) last posted its quarterly earnings results on Thursday, July 30th. The company reported $0.72 earnings per share (EPS) for the quarter. Fresh Del Monte Produce had a return on equity of 6.43% and a net margin of 0.79%.The company had revenue of $1.22 billion for the quarter.

Fresh Del Monte Produce Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 4th. Shareholders of record on Wednesday, August 12th were issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date of this dividend was Wednesday, August 12th. Fresh Del Monte Produce’s payout ratio is 169.01%.

Insider Activity

In other Fresh Del Monte Produce news, COO Mohammed Abbas acquired 12,000 shares of the company’s stock in a transaction dated Tuesday, August 4th. The shares were acquired at an average price of $29.89 per share, for a total transaction of $358,680.00. Following the acquisition, the chief operating officer owned 71,930 shares in the company, valued at $2,149,987.70. The trade was a 20.02% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 30.60% of the company’s stock.

Institutional Investors Weigh In On Fresh Del Monte Produce

Several hedge funds and other institutional investors have recently made changes to their positions in DMC. California State Teachers Retirement System acquired a new position in Fresh Del Monte Produce in the second quarter valued at approximately $34,507,000. NewEdge Advisors LLC acquired a new stake in Fresh Del Monte Produce during the second quarter worth approximately $4,023,000. Engineers Gate Manager LP acquired a new stake in Fresh Del Monte Produce during the second quarter worth approximately $1,141,000. Outfitters Financial LLC purchased a new stake in shares of Fresh Del Monte Produce during the 2nd quarter worth approximately $912,000. Finally, Arizona State Retirement System purchased a new stake in shares of Fresh Del Monte Produce during the 2nd quarter worth approximately $302,000. Institutional investors and hedge funds own 64.83% of the company’s stock.

Fresh Del Monte Produce Company Profile

Fresh Del Monte Produce Inc is a global producer, distributor and marketer of fresh and prepared fruits and vegetables. Its product portfolio includes bananas, pineapples, melons, avocados, berries, grapes, tomatoes and other vegetables, as well as prepared fruit, juices and vegetable products.

The company serves retail, foodservice and other customers through an integrated network that includes farming, sourcing, processing, packaging, distribution and marketing. Its products are sold under the Del Monte brand and other company and private-label brands in North America, Europe, Asia, the Middle East and Africa.

Fresh Del Monte traces its brand heritage to the late 19th century and has developed agricultural and distribution operations across multiple regions.