Fresh Del Monte Produce (NYSE:FDP) Shares Cross Above 200-Day Moving Average of $24.80

Fresh Del Monte Produce Inc. (NYSE:FDP)’s stock price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $24.80 and traded as high as $25.39. Fresh Del Monte Produce shares last traded at $25.36, with a volume of 149,739 shares traded.

Wall Street Analyst Weigh In

Separately, TheStreet cut shares of Fresh Del Monte Produce from a “b-” rating to a “c” rating in a research note on Monday, February 26th.

Fresh Del Monte Produce Stock Up 1.7 %

The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.01 and a current ratio of 2.12. The stock’s 50 day moving average is $24.73 and its two-hundred day moving average is $24.80.

Fresh Del Monte Produce (NYSE:FDP) last released its earnings results on Monday, February 26th. The company reported $0.25 EPS for the quarter, missing the consensus estimate of $0.31 by ($0.06). Fresh Del Monte Produce had a positive return on equity of 5.11% and a negative net margin of 0.26%. The firm had revenue of $1.01 billion during the quarter, compared to analyst estimates of $1.03 billion. During the same quarter last year, the business posted $0.45 EPS. The firm’s revenue was down 3.0% on a year-over-year basis.

Fresh Del Monte Produce Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Thursday, March 7th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 3.88%. The ex-dividend date of this dividend was Wednesday, March 6th. This is a boost from Fresh Del Monte Produce’s previous quarterly dividend of $0.20. Fresh Del Monte Produce’s dividend payout ratio (DPR) is -400.00%.

Insider Activity at Fresh Del Monte Produce

In related news, CFO Monica Vicente sold 1,083 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $24.35, for a total value of $26,371.05. Following the completion of the sale, the chief financial officer now owns 5,266 shares in the company, valued at $128,227.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Fresh Del Monte Produce news, CFO Monica Vicente sold 1,083 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $24.35, for a total transaction of $26,371.05. Following the completion of the transaction, the chief financial officer now directly owns 5,266 shares in the company, valued at approximately $128,227.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Mohammed Abbas sold 3,222 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $24.35, for a total transaction of $78,455.70. Following the transaction, the chief operating officer now owns 29,945 shares of the company’s stock, valued at $729,160.75. The disclosure for this sale can be found here. Insiders sold 10,569 shares of company stock worth $258,509 over the last 90 days. Company insiders own 29.70% of the company’s stock.

Hedge Funds Weigh In On Fresh Del Monte Produce

Several hedge funds have recently added to or reduced their stakes in FDP. Bank of New York Mellon Corp increased its holdings in Fresh Del Monte Produce by 2.3% during the 1st quarter. Bank of New York Mellon Corp now owns 730,011 shares of the company’s stock valued at $18,914,000 after acquiring an additional 16,125 shares in the last quarter. Citigroup Inc. grew its holdings in shares of Fresh Del Monte Produce by 1.9% during the first quarter. Citigroup Inc. now owns 33,705 shares of the company’s stock worth $874,000 after buying an additional 635 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in shares of Fresh Del Monte Produce by 14.1% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 28,692 shares of the company’s stock worth $743,000 after buying an additional 3,538 shares in the last quarter. Allianz Asset Management GmbH grew its holdings in shares of Fresh Del Monte Produce by 167.8% during the first quarter. Allianz Asset Management GmbH now owns 33,036 shares of the company’s stock worth $856,000 after buying an additional 20,699 shares in the last quarter. Finally, Vanguard Group Inc. grew its holdings in shares of Fresh Del Monte Produce by 2.8% during the first quarter. Vanguard Group Inc. now owns 4,055,814 shares of the company’s stock worth $105,086,000 after buying an additional 111,127 shares in the last quarter. 64.83% of the stock is currently owned by hedge funds and other institutional investors.

About Fresh Del Monte Produce

Fresh Del Monte Produce Inc, through its subsidiaries, produces, markets, and distributes fresh and fresh-cut fruits and vegetables in North America, Central America, South America, Europe, the Middle East, Africa, Asia, and internationally. It operates through three segments: Fresh and Value-Added Products, Banana, and Other Products and Services.