Fresh Del Monte Produce (NYSE:FDP) Coverage Initiated by Analysts at StockNews.com

Analysts at StockNews.com started coverage on shares of Fresh Del Monte Produce (NYSE:FDP – Get Rating) in a report issued on Thursday. The firm set a “hold” rating on the stock.

Fresh Del Monte Produce Price Performance

FDP opened at $30.25 on Thursday. The company’s 50-day simple moving average is $28.85 and its two-hundred day simple moving average is $27.07. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.94 and a current ratio of 2.05. The stock has a market capitalization of $1.45 billion, a P/E ratio of 14.76 and a beta of 0.67. Fresh Del Monte Produce has a 52-week low of $22.63 and a 52-week high of $32.49.

Fresh Del Monte Produce (NYSE:FDP – Get Rating) last issued its quarterly earnings data on Wednesday, February 22nd. The company reported $0.45 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.50. Fresh Del Monte Produce had a net margin of 2.22% and a return on equity of 4.97%. The company had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter in the prior year, the firm earned ($0.18) earnings per share. The firm’s revenue for the quarter was up 2.2% compared to the same quarter last year.

Insiders Place Their Bets

In other news, VP Sergio Mancilla sold 1,485 shares of the company’s stock in a transaction dated Monday, March 13th. The shares were sold at an average price of $30.20, for a total transaction of $44,847.00. Following the completion of the sale, the vice president now owns 68 shares of the company’s stock, valued at approximately $2,053.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Fresh Del Monte Produce news, SVP Hans Sauter sold 1,499 shares of the business’s stock in a transaction dated Thursday, March 9th. The stock was sold at an average price of $30.76, for a total transaction of $46,109.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Sergio Mancilla sold 1,485 shares of the company’s stock in a transaction dated Monday, March 13th. The stock was sold at an average price of $30.20, for a total value of $44,847.00. Following the completion of the sale, the vice president now owns 68 shares of the company’s stock, valued at approximately $2,053.60. The disclosure for this sale can be found here. Over the last three months, insiders have sold 3,677 shares of company stock valued at $112,788. Insiders own 36.96% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Truist Financial Corp bought a new stake in Fresh Del Monte Produce during the 4th quarter worth approximately $509,000. State of Tennessee Treasury Department raised its position in shares of Fresh Del Monte Produce by 54.2% during the 4th quarter. State of Tennessee Treasury Department now owns 27,002 shares of the company’s stock valued at $707,000 after purchasing an additional 9,494 shares during the period. Squarepoint Ops LLC lifted its stake in shares of Fresh Del Monte Produce by 332.3% during the 4th quarter. Squarepoint Ops LLC now owns 52,063 shares of the company’s stock valued at $1,364,000 after buying an additional 40,020 shares in the last quarter. Norges Bank bought a new position in Fresh Del Monte Produce in the 4th quarter worth $7,325,000. Finally, AQR Capital Management LLC increased its stake in Fresh Del Monte Produce by 41.4% in the 4th quarter. AQR Capital Management LLC now owns 128,571 shares of the company’s stock worth $3,367,000 after buying an additional 37,646 shares in the last quarter. 64.82% of the stock is currently owned by institutional investors.

About Fresh Del Monte Produce

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Fresh Del Monte Produce, Inc engages in production and distribution of fresh fruit and vegetables products. It operates through the following segments: Bananas and Fresh and Value-added products segments. The Bananas segment produces banana. The Fresh and Value-added products segment includes sales of pineapples, melons, non-tropical fruit (including grapes, apples, citrus, blueberries, strawberries, pears, peaches, plums, nectarines, cherries and kiwis), other fruit and vegetables, avocados, fresh-cut fruit and vegetables, prepared fruit and vegetables, juices, other beverages, prepared meals and snacks.