Fresh Del Monte Produce (NYSE:FDP) Sets New 12-Month Low – Time to Sell?

Fresh Del Monte Produce, Inc. (NYSE:FDP)’s stock price hit a new 52-week low during trading on Monday . The company traded as low as $29.01 and last traded at $28.7650, with a volume of 47639 shares changing hands. The stock had previously closed at $29.52.

Analyst Ratings Changes

A number of brokerages recently commented on FDP. Weiss Ratings downgraded shares of Fresh Del Monte Produce from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, May 11th. Wall Street Zen downgraded shares of Fresh Del Monte Produce from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the company has a consensus rating of “Hold”.

Fresh Del Monte Produce Trading Down 3.1%

The company has a quick ratio of 1.10, a current ratio of 2.34 and a debt-to-equity ratio of 0.22. The firm has a market cap of $1.36 billion, a P/E ratio of 19.67 and a beta of 0.22. The company’s 50 day simple moving average is $37.67 and its 200-day simple moving average is $38.25.

Fresh Del Monte Produce (NYSE:FDP) last announced its quarterly earnings data on Wednesday, May 6th. The company reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.01. The business had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.03 billion. Fresh Del Monte Produce had a net margin of 1.63% and a return on equity of 7.61%. The firm’s quarterly revenue was down 4.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.63 earnings per share.

Fresh Del Monte Produce Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 11th. Shareholders of record on Tuesday, May 19th will be paid a $0.30 dividend. The ex-dividend date of this dividend is Tuesday, May 19th. This represents a $1.20 annualized dividend and a yield of 4.2%. Fresh Del Monte Produce’s dividend payout ratio (DPR) is presently 82.76%.

Insider Buying and Selling at Fresh Del Monte Produce

In other news, SVP Marissa R. Tenazas sold 1,046 shares of Fresh Del Monte Produce stock in a transaction that occurred on Thursday, April 2nd. The shares were sold at an average price of $40.40, for a total transaction of $42,258.40. Following the completion of the sale, the senior vice president owned 8,050 shares of the company’s stock, valued at approximately $325,220. The trade was a 11.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 30.60% of the company’s stock.

Institutional Trading of Fresh Del Monte Produce

Institutional investors and hedge funds have recently modified their holdings of the stock. EverSource Wealth Advisors LLC raised its stake 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 valued at $31,000 after acquiring an additional 766 shares in the last quarter. Larson Financial Group LLC raised its stake in shares of Fresh Del Monte Produce by 1,488.5% during the third quarter. Larson Financial Group LLC now owns 969 shares of the company’s stock valued at $34,000 after acquiring an additional 908 shares in the last quarter. Geneos Wealth Management Inc. raised its stake in shares of Fresh Del Monte Produce by 238.1% during the second quarter. Geneos Wealth Management Inc. now owns 1,065 shares of the company’s stock valued at $35,000 after acquiring an additional 750 shares in the last quarter. Leonteq Securities AG bought a new stake in shares of Fresh Del Monte Produce during the fourth quarter valued at approximately $39,000. Finally, Aster Capital Management DIFC Ltd bought a new stake in shares of Fresh Del Monte Produce during the fourth quarter valued at approximately $61,000. Institutional investors own 64.83% of the company’s stock.

Fresh Del Monte Produce Company Profile

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.