Fresh Del Monte Produce (NYSE:FDP) Stock Passes Above Two Hundred Day Moving Average – Time to Sell?

Fresh Del Monte Produce, Inc. (NYSE:FDP)’s share price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $37.24 and traded as high as $42.22. Fresh Del Monte Produce shares last traded at $41.9950, with a volume of 639,036 shares changing hands.

Analyst Ratings Changes

A number of research firms recently issued reports on FDP. Weiss Ratings upgraded Fresh Del Monte Produce from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, February 23rd. Wall Street Zen upgraded Fresh Del Monte Produce from a “hold” rating to a “buy” rating in a research note on Saturday, February 21st. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, Fresh Del Monte Produce currently has an average rating of “Buy”.

Fresh Del Monte Produce Price Performance

The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.06 and a current ratio of 2.16. The company has a market capitalization of $1.99 billion, a PE ratio of 22.34 and a beta of 0.28. The company’s 50-day simple moving average is $40.23 and its 200-day simple moving average is $37.24.

Fresh Del Monte Produce (NYSE:FDP) last announced its earnings results on Wednesday, February 18th. The company reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.28 by $0.42. Fresh Del Monte Produce had a net margin of 2.10% and a return on equity of 7.63%. The business had revenue of $968.20 million during the quarter, compared to analysts’ expectations of $1.01 billion. During the same period in the prior year, the company earned $0.26 earnings per share. The business’s revenue was up .6% compared to the same quarter last year.

Fresh Del Monte Produce Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 27th. Shareholders of record on Wednesday, March 4th will be paid a dividend of $0.30 per share. The ex-dividend date of this dividend is Wednesday, March 4th. This represents a $1.20 annualized dividend and a yield of 2.9%. Fresh Del Monte Produce’s dividend payout ratio is currently 63.83%.

Insider Activity at Fresh Del Monte Produce

In other news, SVP Ziad Nabulsi sold 7,395 shares of the business’s stock in a transaction that occurred on Friday, March 6th. The stock was sold at an average price of $42.01, for a total value of $310,663.95. Following the transaction, the senior vice president owned 8,397 shares of the company’s stock, valued at approximately $352,757.97. The trade was a 46.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Effie D. Silva sold 5,894 shares of the company’s stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $41.94, for a total value of $247,194.36. Following the sale, the senior vice president owned 8,536 shares of the company’s stock, valued at $357,999.84. This trade represents a 40.85% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 32,105 shares of company stock worth $1,348,967 in the last ninety days. Company insiders own 30.10% of the company’s stock.

Hedge Funds Weigh In On Fresh Del Monte Produce

Several institutional investors have recently bought and sold shares of the company. EverSource Wealth Advisors LLC raised its position in Fresh Del Monte Produce by 390.8% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 962 shares of the company’s stock worth $31,000 after buying an additional 766 shares during the last quarter. Larson Financial Group LLC boosted its holdings in shares of Fresh Del Monte Produce by 1,488.5% in 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. boosted its holdings in shares of Fresh Del Monte Produce by 238.1% in 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 acquired a new position in shares of Fresh Del Monte Produce during the fourth quarter worth about $39,000. Finally, Aster Capital Management DIFC Ltd acquired a new position in shares of Fresh Del Monte Produce during the fourth quarter worth about $61,000. 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.