Fresh Del Monte Produce (NYSE:FDP) Hits New 12-Month High – Should You Buy?

Fresh Del Monte Produce, Inc. (NYSE:FDP) shares reached a new 52-week high on Tuesday . The company traded as high as $40.97 and last traded at $40.88, with a volume of 9514 shares trading hands. The stock had previously closed at $39.88.

Analysts Set New Price Targets

FDP has been the subject of a number of analyst reports. Weiss Ratings reissued a “hold (c+)” rating on shares of Fresh Del Monte Produce in a research report on Monday, December 29th. Wall Street Zen lowered Fresh Del Monte Produce from a “buy” rating to a “hold” rating in a research note on Saturday, November 1st. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, Fresh Del Monte Produce currently has a consensus rating of “Hold”.

Fresh Del Monte Produce Stock Performance

The firm has a market capitalization of $1.92 billion, a price-to-earnings ratio of 24.68 and a beta of 0.30. The company has a 50-day moving average of $37.56 and a 200-day moving average of $36.26. The company has a current ratio of 2.09, a quick ratio of 1.07 and a debt-to-equity ratio of 0.09.

Insider Activity at Fresh Del Monte Produce

In related news, CEO Ghazaleh Mohammad Abu sold 28,558 shares of the business’s stock in a transaction dated Monday, December 15th. The shares were sold at an average price of $38.42, for a total transaction of $1,097,198.36. Following the completion of the sale, the chief executive officer owned 4,962,224 shares of the company’s stock, valued at $190,648,646.08. This represents a 0.57% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 30.10% of the company’s stock.

Hedge Funds Weigh In On Fresh Del Monte Produce

Institutional investors have recently made changes to their positions in the stock. Geneos Wealth Management Inc. lifted its holdings in shares of Fresh Del Monte Produce by 26.1% in the 4th quarter. Geneos Wealth Management Inc. now owns 1,450 shares of the company’s stock worth $52,000 after purchasing an additional 300 shares during the last quarter. State of Alaska Department of Revenue lifted its stake in Fresh Del Monte Produce by 1.6% in the fourth quarter. State of Alaska Department of Revenue now owns 18,832 shares of the company’s stock valued at $670,000 after buying an additional 302 shares during the last quarter. HighTower Advisors LLC boosted its holdings in shares of Fresh Del Monte Produce by 5.2% during the fourth quarter. HighTower Advisors LLC now owns 9,982 shares of the company’s stock valued at $356,000 after acquiring an additional 489 shares during the period. Outfitters Financial LLC grew its position in shares of Fresh Del Monte Produce by 1.5% during the fourth quarter. Outfitters Financial LLC now owns 33,145 shares of the company’s stock worth $1,181,000 after acquiring an additional 500 shares during the last quarter. Finally, Russell Investments Group Ltd. increased its holdings in shares of Fresh Del Monte Produce by 0.7% in the 4th quarter. Russell Investments Group Ltd. now owns 71,447 shares of the company’s stock worth $2,546,000 after acquiring an additional 514 shares during the period. 64.83% of the stock is owned by institutional investors.

About Fresh Del Monte Produce

Fresh Del Monte Produce Inc is a leading producer, marketer and distributor of fresh and fresh-cut fruits and vegetables worldwide. The company offers a wide range of products including bananas, pineapples, melons, grapes and avocados, along with value-added items such as fruit salads, vegetable trays and snack packs under the Del Monte® brand.

Founded in 1989 as a spin-off from Del Monte, Fresh Del Monte has developed a global supply chain that spans production farms, ripening facilities and packaging centers across Latin America, North America, Europe, Asia and Africa.