Fresh Del Monte Produce (NYSE:FDP) Downgraded by StockNews.com

Fresh Del Monte Produce (NYSE:FDP – Get Rating) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Friday.

Shares of FDP stock traded up $0.09 on Friday, hitting $25.36. The company had a trading volume of 149,419 shares, compared to its average volume of 145,857. Fresh Del Monte Produce has a twelve month low of $22.83 and a twelve month high of $35.21. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.88 and a current ratio of 1.80. The firm has a market cap of $1.21 billion, a P/E ratio of 19.21 and a beta of 0.71. The stock’s 50-day moving average is $25.66 and its two-hundred day moving average is $26.70.

Fresh Del Monte Produce (NYSE:FDP – Get Rating) last announced its earnings results on Wednesday, May 4th. The company reported $0.55 EPS for the quarter. Fresh Del Monte Produce had a return on equity of 3.54% and a net margin of 1.47%. The business had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.12 billion. During the same period in the prior year, the business posted $0.88 earnings per share. The firm’s revenue was up 4.5% on a year-over-year basis.

In related news, CFO Eduardo Guarita Bezerra sold 4,527 shares of the business’s stock in a transaction on Tuesday, March 8th. The shares were sold at an average price of $26.18, for a total transaction of $118,516.86. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Marlene Gordon sold 5,056 shares of the firm’s stock in a transaction on Tuesday, March 8th. The stock was sold at an average price of $26.54, for a total transaction of $134,186.24. The disclosure for this sale can be found here. In the last 90 days, insiders sold 21,297 shares of company stock worth $554,555. 30.20% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently modified their holdings of the company. Invesco Ltd. raised its stake in Fresh Del Monte Produce by 67.1% during the 4th quarter. Invesco Ltd. now owns 685,078 shares of the company’s stock worth $18,908,000 after buying an additional 275,105 shares during the period. Norges Bank bought a new stake in shares of Fresh Del Monte Produce during the fourth quarter valued at approximately $7,472,000. BlackRock Inc. increased its holdings in shares of Fresh Del Monte Produce by 3.4% during the third quarter. BlackRock Inc. now owns 5,399,885 shares of the company’s stock valued at $173,982,000 after acquiring an additional 177,779 shares in the last quarter. State Street Corp raised its position in shares of Fresh Del Monte Produce by 10.9% during the first quarter. State Street Corp now owns 1,306,108 shares of the company’s stock worth $34,018,000 after purchasing an additional 128,374 shares during the period. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Fresh Del Monte Produce by 19.2% in the 3rd quarter. Bank of New York Mellon Corp now owns 745,256 shares of the company’s stock worth $24,012,000 after purchasing an additional 119,779 shares in the last quarter. Institutional investors own 67.95% of the company’s stock.

Fresh Del Monte Produce Company Profile (Get Rating)

Fresh Del Monte Produce Inc, through its subsidiaries, produces, markets, and distributes fresh and fresh-cut fruits and vegetables in North 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.

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