Shares of Fresh Del Monte Produce Inc. (NYSE:FDP) gapped up prior to trading on Monday . The stock had previously closed at $55.56, but opened at $55.67. Fresh Del Monte Produce shares last traded at $56.21, with a volume of 65,937 shares changing hands.

FDP has been the topic of several research reports. Zacks Investment Research upgraded 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 research report on Tuesday, July 12th. Wunderlich raised 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. Finally, 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.

The stock has a 50 day moving average price of $54.19 and a 200 day moving average price of $45.66. The stock has a market cap of $2.86 billion and a PE ratio of 29.37.

Fresh Del Monte Produce (NYSE:FDP) last posted its earnings results 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 period in the previous year, the firm earned $0.83 earnings per share. The firm had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.05 billion. The company’s revenue for the quarter was up 1.0% on a year-over-year basis. Equities research analysts forecast that Fresh Del Monte Produce Inc. will post $3.67 EPS for the current year.

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

Several hedge funds recently added to or reduced their stakes in FDP. California State Teachers Retirement System increased its stake 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 worth $2,401,000 after buying an additional 1,000 shares during the period. Aviance Capital Partners LLC increased its stake 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 worth $1,296,000 after buying an additional 1,277 shares during the last quarter. State Board of Administration of Florida Retirement System increased its stake 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 worth $1,040,000 after buying an additional 2,606 shares during the last quarter. Russell Frank Co increased its stake in Fresh Del Monte Produce by 2.4% in the fourth quarter. Russell Frank Co now owns 272,405 shares of the company’s stock worth $10,735,000 after buying an additional 6,359 shares during the last quarter. Finally, GSA Capital Partners LLP increased its stake 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 worth $1,144,000 after buying an additional 23,803 shares during the last quarter.

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.

Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.