Shares of Fresh Del Monte Produce Inc. (NYSE:FDP) reached a new 52-week high on Wednesday . The company traded as high as $56.74 and last traded at $56.52, with a volume of 84,559 shares. The stock had previously closed at $56.22.

FDP has been the topic of a number of research reports. Zacks Investment Research downgraded shares of Fresh Del Monte Produce from a “strong-buy” rating to a “hold” rating in a report on Monday, May 2nd. Wunderlich reaffirmed a “buy” rating and set a $50.00 price target (up from $45.00) on shares of Fresh Del Monte Produce in a research note on Wednesday, May 4th. Finally, Sidoti initiated coverage on shares of Fresh Del Monte Produce in a research note on Thursday, May 12th. They set a “neutral” rating and a $54.00 price target for the company.

The company has a market capitalization of $2.87 billion and a P/E ratio of 29.50. The stock’s 50 day moving average is $54.25 and its 200-day moving average is $45.74.

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

In other Fresh Del Monte Produce news, CEO Mohammad Abu-Ghazaleh sold 54,567 shares of the business’s stock in a transaction on Thursday, May 5th. The shares were sold at an average price of $47.40, for a total value of $2,586,475.80. Following the transaction, the chief executive officer now directly owns 5,501,954 shares of the company’s stock, valued at approximately $260,792,619.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ghazaleh Amir Abu sold 11,201 shares of the business’s stock in a transaction on Thursday, June 2nd. The shares were sold at an average price of $52.91, for a total transaction of $592,644.91. Following the completion of the transaction, the director now directly 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 institutional investors have recently made changes to their positions in the stock. Morgan Stanley boosted its position in shares of Fresh Del Monte Produce by 47.1% in the fourth quarter. Morgan Stanley now owns 224,951 shares of the company’s stock valued at $8,746,000 after buying an additional 72,072 shares in the last quarter. Robeco Institutional Asset Management B.V. purchased a new position in shares of Fresh Del Monte Produce during the fourth quarter valued at about $1,830,000. PNC Financial Services Group Inc. boosted its position in shares of Fresh Del Monte Produce by 202.4% in the fourth quarter. PNC Financial Services Group Inc. now owns 62,573 shares of the company’s stock valued at $2,433,000 after buying an additional 41,879 shares in the last quarter. Nationwide Fund Advisors boosted its position in shares of Fresh Del Monte Produce by 114.5% in the fourth quarter. Nationwide Fund Advisors now owns 77,942 shares of the company’s stock valued at $3,030,000 after buying an additional 41,599 shares in the last quarter. Finally, GSA Capital Partners LLP boosted its position in shares of 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 in 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.

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