Fresh Del Monte Produce (NYSE:FDP) Raised to “Buy” at StockNews.com

StockNews.com upgraded shares of Fresh Del Monte Produce (NYSE:FDPGet Rating) from a hold rating to a buy rating in a report issued on Friday morning.

Separately, TheStreet upgraded shares of Fresh Del Monte Produce from a c+ rating to a b- rating in a report on Tuesday, June 7th.

Fresh Del Monte Produce Price Performance

Fresh Del Monte Produce stock opened at $25.49 on Friday. The company has a current ratio of 1.73, a quick ratio of 0.87 and a debt-to-equity ratio of 0.25. The stock has a market cap of $1.22 billion, a P/E ratio of 33.10 and a beta of 0.56. The company has a 50-day moving average price of $28.88 and a 200 day moving average price of $26.76. Fresh Del Monte Produce has a 12-month low of $22.63 and a 12-month high of $34.00.

Fresh Del Monte Produce (NYSE:FDPGet Rating) last released its quarterly earnings results on Wednesday, August 3rd. The company reported $0.43 EPS for the quarter, missing the consensus estimate of $0.74 by ($0.31). The firm had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.15 billion. Fresh Del Monte Produce had a net margin of 0.85% and a return on equity of 2.11%. The firm’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.98 EPS.

Fresh Del Monte Produce Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 9th. Stockholders of record on Wednesday, August 17th will be given a dividend of $0.15 per share. The ex-dividend date is Tuesday, August 16th. This represents a $0.60 annualized dividend and a dividend yield of 2.35%. Fresh Del Monte Produce’s dividend payout ratio is currently 77.92%.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of FDP. ProShare Advisors LLC purchased a new stake in Fresh Del Monte Produce during the fourth quarter worth about $232,000. Van ECK Associates Corp lifted its position in Fresh Del Monte Produce by 46.4% during the 1st quarter. Van ECK Associates Corp now owns 4,271 shares of the company’s stock worth $111,000 after acquiring an additional 1,354 shares in the last quarter. Davy Global Fund Management Ltd purchased a new stake in Fresh Del Monte Produce during the 1st quarter worth approximately $2,419,000. State of Tennessee Treasury Department raised its holdings in Fresh Del Monte Produce by 17.9% in the first quarter. State of Tennessee Treasury Department now owns 11,511 shares of the company’s stock valued at $298,000 after acquiring an additional 1,744 shares in the last quarter. Finally, Rockefeller Capital Management L.P. increased its holdings in Fresh Del Monte Produce by 28.4% in the fourth quarter. Rockefeller Capital Management L.P. now owns 24,850 shares of the company’s stock valued at $685,000 after buying an additional 5,500 shares during the last quarter. Institutional investors and hedge funds own 65.62% 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.

Recommended Stories

Receive News & Ratings for Fresh Del Monte Produce Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fresh Del Monte Produce and related companies with MarketBeat.com's FREE daily email newsletter.