Shares of Fresh Del Monte Produce Inc. (NYSE:FDP) saw strong trading volume on Tuesday . 397,223 shares were traded during mid-day trading, an increase of 34% from the previous session’s volume of 296,147 shares.The stock last traded at $54.62 and had previously closed at $54.48.

Several research analysts have weighed in on FDP shares. Zacks Investment Research raised shares of Fresh Del Monte Produce from a “hold” rating to a “buy” rating and set a $61.00 price target on the stock in a report on Tuesday. Sidoti started coverage on shares of Fresh Del Monte Produce in a research report on Thursday, May 12th. They set a “neutral” rating and a $54.00 target price on the stock. Finally, Wunderlich increased their target price on shares of Fresh Del Monte Produce from $50.00 to $60.00 and gave the stock a “buy” rating in a research report on Wednesday, May 11th.

The stock has a 50-day moving average price of $53.90 and a 200 day moving average price of $45.26. The firm has a market cap of $2.82 billion and a PE ratio of 29.02.

Fresh Del Monte Produce (NYSE:FDP) last issued its quarterly earnings data on Tuesday, May 3rd. The company reported $1.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.84 by $0.73. During the same quarter in the prior year, the business earned $0.83 earnings per share. The business had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.05 billion. The firm’s quarterly revenue was up 1.0% compared to the same quarter last year. Equities research analysts expect that Fresh Del Monte Produce Inc. will post $3.67 earnings per share for the current year.

In related news, CEO Mohammad Abu-Ghazaleh sold 20,622 shares of the business’s stock in a transaction dated Monday, May 9th. The shares were sold at an average price of $48.89, for a total transaction of $1,008,209.58. Following the transaction, the chief executive officer now directly owns 5,445,278 shares in the company, valued at $266,219,641.42. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Ghazaleh Amir Abu sold 11,201 shares of the business’s stock in a transaction dated Thursday, June 2nd. The stock was sold at an average price of $52.91, for a total transaction of $592,644.91. Following the transaction, the director now owns 3,360,000 shares in the company, valued at $177,777,600. The disclosure for this sale can be found here.

A number of hedge funds and institutional investors have recently added to or reduced their stakes in the company. State Board of Administration of Florida Retirement System boosted its position in Fresh Del Monte Produce by 10.8% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 26,744 shares of the company’s stock valued at $1,040,000 after buying an additional 2,606 shares during the period. GSA Capital Partners LLP boosted its position in Fresh Del Monte Produce by 423.8% in the fourth quarter. GSA Capital Partners LLP now owns 29,420 shares of the company’s stock valued at $1,144,000 after buying an additional 23,803 shares during the period. Aviance Capital Partners LLC boosted its position in Fresh Del Monte Produce by 4.0% in the fourth quarter. Aviance Capital Partners LLC now owns 33,336 shares of the company’s stock valued at $1,296,000 after buying an additional 1,277 shares during the period. Robeco Institutional Asset Management B.V. purchased a new position in Fresh Del Monte Produce during the fourth quarter valued at $1,830,000. Finally, California State Teachers Retirement System boosted its position in Fresh Del Monte Produce by 1.6% in the fourth quarter. California State Teachers Retirement System now owns 61,762 shares of the company’s stock valued at $2,401,000 after buying an additional 1,000 shares during the period.

Fresh Del Monte Produce Inc is a holding company. Through its subsidiaries, the Company is engaged in sourcing, transportation and marketing of fresh and fresh-cut fruit and vegetables together with prepared food products in Europe, Africa and the Middle East. The Company’s operations are aggregated into business segments on the basis of its products: bananas, other fresh produce and prepared food.

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