Fresh Del Monte Produce (NYSE:FDP) Rating Increased to Buy at Wall Street Zen

Fresh Del Monte Produce (NYSE:FDP) was upgraded by stock analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued to investors on Saturday.

Separately, Weiss Ratings reiterated a “hold (c+)” rating on shares of Fresh Del Monte Produce in a research note on Monday, December 29th. One research analyst has rated the stock with a Hold rating, According to MarketBeat, the company currently has an average rating of “Hold”.

Fresh Del Monte Produce Stock Down 2.5%

NYSE:FDP opened at $41.29 on Friday. Fresh Del Monte Produce has a twelve month low of $26.50 and a twelve month high of $42.98. The firm has a market capitalization of $1.97 billion, a price-to-earnings ratio of 21.96 and a beta of 0.30. The company has a quick ratio of 1.07, a current ratio of 2.16 and a debt-to-equity ratio of 0.09. The stock’s 50 day moving average price is $37.90 and its two-hundred day moving average price is $36.40.

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

Insiders Place Their Bets

In related news, CEO Ghazaleh Mohammad Abu sold 28,558 shares of the business’s stock in a transaction on Monday, December 15th. The stock was sold at an average price of $38.42, for a total value of $1,097,198.36. Following the completion of the sale, the chief executive officer directly owned 4,962,224 shares in the company, valued at $190,648,646.08. The trade was a 0.57% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 31.60% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC lifted its holdings 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 buying an additional 766 shares in the last quarter. Larson Financial Group LLC increased its position in 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 worth $34,000 after acquiring an additional 908 shares during the period. Geneos Wealth Management Inc. raised its stake in 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 worth $35,000 after purchasing an additional 750 shares in the last quarter. Leonteq Securities AG acquired a new stake in Fresh Del Monte Produce in the 4th quarter worth about $39,000. Finally, Aster Capital Management DIFC Ltd bought a new stake in Fresh Del Monte Produce in the 4th quarter valued at about $61,000. Institutional investors own 64.83% of the company’s stock.

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.