Fresh Del Monte Produce (NYSE:FDP) Reaches New 1-Year Low – Time to Sell?

Fresh Del Monte Produce, Inc. (NYSE:FDP) shares reached a new 52-week low on Wednesday . The company traded as low as $27.89 and last traded at $28.0160, with a volume of 504246 shares. The stock had previously closed at $28.90.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Wall Street Zen cut shares of Fresh Del Monte Produce from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. Weiss Ratings lowered shares of Fresh Del Monte Produce from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, May 11th. One 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 Stock Performance

The company has a current ratio of 2.34, a quick ratio of 1.10 and a debt-to-equity ratio of 0.22. The firm has a market capitalization of $1.32 billion, a price-to-earnings ratio of 19.13 and a beta of 0.22. The stock has a fifty day moving average price of $35.96 and a 200-day moving average price of $37.93.

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

Fresh Del Monte Produce Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 11th. Shareholders of record on Tuesday, May 19th were issued a dividend of $0.30 per share. The ex-dividend date of this dividend was Tuesday, May 19th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 4.3%. Fresh Del Monte Produce’s dividend payout ratio (DPR) is presently 82.76%.

Insider Activity

In other news, Director Ahmad Abu-Ghazaleh acquired 4,000 shares of the firm’s stock in a transaction on Thursday, June 11th. The shares were purchased at an average cost of $29.41 per share, with a total value of $117,640.00. Following the completion of the purchase, the director owned 4,000 shares of the company’s stock, valued at $117,640. This represents a ? increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Marissa R. Tenazas sold 1,046 shares of the firm’s stock in a transaction that occurred on Thursday, April 2nd. The stock was sold at an average price of $40.40, for a total transaction of $42,258.40. Following the sale, the senior vice president directly owned 8,050 shares of the company’s stock, valued at approximately $325,220. The trade was a 11.50% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 30.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of FDP. Geneos Wealth Management Inc. grew its position in Fresh Del Monte Produce by 26.1% during the 4th quarter. Geneos Wealth Management Inc. now owns 1,450 shares of the company’s stock worth $52,000 after acquiring an additional 300 shares during the last quarter. State of Alaska Department of Revenue raised its position in Fresh Del Monte Produce by 1.6% in the 4th quarter. State of Alaska Department of Revenue now owns 18,832 shares of the company’s stock valued at $670,000 after purchasing an additional 302 shares during the last quarter. Parallel Advisors LLC boosted its stake in Fresh Del Monte Produce by 8.5% in the first quarter. Parallel Advisors LLC now owns 5,659 shares of the company’s stock worth $228,000 after purchasing an additional 445 shares in the last quarter. HighTower Advisors LLC boosted its stake in Fresh Del Monte Produce by 5.2% in the fourth quarter. HighTower Advisors LLC now owns 9,982 shares of the company’s stock worth $356,000 after purchasing an additional 489 shares in the last quarter. Finally, Outfitters Financial LLC grew its holdings in shares of Fresh Del Monte Produce by 1.5% during the fourth quarter. Outfitters Financial LLC now owns 33,145 shares of the company’s stock worth $1,181,000 after purchasing an additional 500 shares during the last quarter. 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.