Shares of Fresh Del Monte Produce Inc. (NYSE:FDP) reached a new 52-week high during trading on Tuesday . The company traded as high as $57.92 and last traded at $57.58, with a volume of 88,685 shares changing hands. The stock had previously closed at $57.58.

FDP has been the subject of a number of analyst reports. Zacks Investment Research lowered shares of Fresh Del Monte Produce from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 2nd. Wunderlich reaffirmed a “buy” rating and set a $50.00 price objective (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 objective for the company.

The stock has a market capitalization of $2.87 billion and a P/E ratio of 29.51. The company’s 50 day moving average price is $54.90 and its 200-day moving average price is $46.48.

Fresh Del Monte Produce (NYSE:FDP) last announced its quarterly earnings data on Tuesday, May 3rd. The company reported $1.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.84 by $0.73. The company had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.05 billion. The company’s revenue for the quarter was up 1.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.83 EPS. On average, equities research analysts predict that Fresh Del Monte Produce Inc. will post $3.67 EPS for the current fiscal year.

In other news, Director Ghazaleh Amir Abu sold 11,201 shares of the stock in a transaction on Thursday, June 2nd. The stock was 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 of the company’s stock, valued at approximately $177,777,600. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Mohammad Abu-Ghazaleh sold 20,622 shares of the stock in a transaction on Monday, May 9th. The stock was sold at an average price of $48.89, for a total value of $1,008,209.58. Following the sale, the chief executive officer now directly 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. State Board of Administration of Florida Retirement System raised 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 valued at $1,040,000 after buying an additional 2,606 shares during the period. GSA Capital Partners LLP raised 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 valued at $1,144,000 after buying an additional 23,803 shares during the period. Robeco Institutional Asset Management B.V. bought a new stake in Fresh Del Monte Produce during the fourth quarter valued at about $1,830,000. California State Teachers Retirement System raised 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 valued at $2,401,000 after buying an additional 1,000 shares during the period. Finally, PNC Financial Services Group Inc. raised its stake in 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 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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