Fresh Del Monte Produce (NYSE:FDP) Hits New 52-Week High – Here’s What Happened

Fresh Del Monte Produce, Inc. (NYSE:FDP) shares reached a new 52-week high on Tuesday . The company traded as high as $40.97 and last traded at $40.88, with a volume of 9514 shares trading hands. The stock had previously closed at $39.88.

Analyst Upgrades and Downgrades

Several analysts have weighed in on FDP shares. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Fresh Del Monte Produce in a research note on Monday, December 29th. Wall Street Zen cut shares of Fresh Del Monte Produce from a “buy” rating to a “hold” rating in a research note on Saturday, November 1st. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Hold”.

Fresh Del Monte Produce Trading Down 0.5%

The company has a quick ratio of 1.07, a current ratio of 2.09 and a debt-to-equity ratio of 0.09. The stock has a market capitalization of $1.92 billion, a P/E ratio of 24.68 and a beta of 0.30. The firm’s 50-day simple moving average is $37.56 and its 200 day simple moving average is $36.26.

Insiders Place Their Bets

In other news, CEO Ghazaleh Mohammad Abu sold 28,558 shares of the stock in a transaction on Monday, December 15th. The stock was sold at an average price of $38.42, for a total transaction of $1,097,198.36. Following the completion of the sale, the chief executive officer owned 4,962,224 shares in the company, valued at approximately $190,648,646.08. This represents a 0.57% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 30.10% of the company’s stock.

Institutional Investors Weigh In On Fresh Del Monte Produce

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Navellier & Associates Inc. purchased a new stake in Fresh Del Monte Produce during the third quarter valued at about $2,864,000. Alps Advisors Inc. acquired a new stake in shares of Fresh Del Monte Produce during the third quarter valued at approximately $836,000. SG Americas Securities LLC purchased a new stake in shares of Fresh Del Monte Produce in the 2nd quarter valued at approximately $261,000. Deroy & Devereaux Private Investment Counsel Inc. purchased a new stake in shares of Fresh Del Monte Produce in the 3rd quarter valued at approximately $2,263,000. Finally, LSV Asset Management boosted its stake in Fresh Del Monte Produce by 148.3% in the 2nd quarter. LSV Asset Management now owns 1,439,958 shares of the company’s stock worth $46,683,000 after purchasing an additional 859,940 shares during the period. 64.83% of the stock is owned by institutional investors and hedge funds.

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.