Fresh Del Monte Produce (NYSE:FDP) Downgraded by Wall Street Zen to “Buy”

Fresh Del Monte Produce (NYSE:FDP) was downgraded by Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research report issued on Saturday.

Fresh Del Monte Produce Trading Down 0.3%

NYSE:FDP opened at $35.68 on Friday. Fresh Del Monte Produce has a fifty-two week low of $26.50 and a fifty-two week high of $40.75. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.08 and a quick ratio of 1.11. The stock has a market capitalization of $1.71 billion, a PE ratio of 11.44 and a beta of 0.43. The business’s 50-day simple moving average is $35.57 and its 200-day simple moving average is $33.34.

Fresh Del Monte Produce (NYSE:FDP) last released its quarterly earnings data on Wednesday, July 30th. The company reported $1.23 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.28. Fresh Del Monte Produce had a return on equity of 6.84% and a net margin of 3.49%.The business had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.16 billion. During the same quarter in the previous year, the business posted $1.06 EPS. Fresh Del Monte Produce’s revenue for the quarter was up 3.8% on a year-over-year basis.

Insider Transactions at Fresh Del Monte Produce

In other Fresh Del Monte Produce news, SVP Ziad Nabulsi sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $35.95, for a total value of $35,950.00. Following the sale, the senior vice president owned 10,498 shares in the company, valued at approximately $377,403.10. The trade was a 8.70% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Effie D. Silva sold 1,315 shares of the business’s stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $37.54, for a total value of $49,365.10. Following the completion of the sale, the senior vice president owned 7,377 shares in the company, valued at $276,932.58. The trade was a 15.13% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 137,039 shares of company stock worth $5,010,709. 31.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Fresh Del Monte Produce

Several institutional investors have recently bought and sold shares of FDP. Northern Trust Corp lifted its stake in Fresh Del Monte Produce by 10.1% in the 4th quarter. Northern Trust Corp now owns 376,203 shares of the company’s stock valued at $12,494,000 after acquiring an additional 34,447 shares in the last quarter. Deutsche Bank AG lifted its stake in Fresh Del Monte Produce by 44.9% in the 4th quarter. Deutsche Bank AG now owns 31,761 shares of the company’s stock valued at $1,055,000 after acquiring an additional 9,848 shares in the last quarter. Ethic Inc. acquired a new position in shares of Fresh Del Monte Produce during the 4th quarter worth approximately $279,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Fresh Del Monte Produce by 3.7% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,211 shares of the company’s stock worth $638,000 after purchasing an additional 684 shares during the last quarter. Finally, Man Group plc increased its position in shares of Fresh Del Monte Produce by 116.0% during the 4th quarter. Man Group plc now owns 38,740 shares of the company’s stock worth $1,287,000 after purchasing an additional 20,805 shares during the last quarter. Institutional investors own 64.83% of the company’s stock.

Fresh Del Monte Produce Company Profile

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.