Fresh Del Monte Produce (NYSE:FDP) Share Price Crosses Above Two Hundred Day Moving Average – Should You Sell?

Shares of Fresh Del Monte Produce, Inc. (NYSE:FDP) passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $36.05 and traded as high as $40.09. Fresh Del Monte Produce shares last traded at $39.1850, with a volume of 199,008 shares changing hands.

Wall Street Analysts Forecast Growth

FDP has been the topic of a number of recent research reports. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Fresh Del Monte Produce in a research note on Monday, December 29th. Wall Street Zen downgraded Fresh Del Monte Produce from a “buy” rating to a “hold” rating in a research report on Saturday, November 1st. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Hold”.

Fresh Del Monte Produce Stock Performance

The stock has a market cap of $1.87 billion, a price-to-earnings ratio of 24.04 and a beta of 0.30. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.09 and a quick ratio of 1.07. The stock’s 50-day moving average is $37.06 and its 200-day moving average is $36.05.

Insider Buying and Selling at Fresh Del Monte Produce

In related news, CEO Ghazaleh Mohammad Abu sold 28,558 shares of the stock in a transaction dated Monday, December 15th. The stock was sold at an average price of $38.42, for a total transaction of $1,097,198.36. Following the transaction, the chief executive officer directly owned 4,962,224 shares in the company, valued at approximately $190,648,646.08. This represents a 0.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Effie D. Silva sold 1,325 shares of Fresh Del Monte Produce stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $36.79, for a total value of $48,746.75. Following the completion of the sale, the senior vice president owned 6,052 shares of the company’s stock, valued at $222,653.08. This trade represents a 17.96% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 30.10% of the company’s stock.

Hedge Funds Weigh In On Fresh Del Monte Produce

Large investors have recently bought and sold shares of the stock. EverSource Wealth Advisors LLC grew its stake in shares of Fresh Del Monte Produce by 390.8% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 962 shares of the company’s stock valued at $31,000 after buying an additional 766 shares during the period. Larson Financial Group LLC boosted its holdings in Fresh Del Monte Produce by 1,488.5% in the third quarter. Larson Financial Group LLC now owns 969 shares of the company’s stock valued at $34,000 after acquiring an additional 908 shares during the last quarter. Geneos Wealth Management Inc. grew its position in Fresh Del Monte Produce by 238.1% during the second quarter. Geneos Wealth Management Inc. now owns 1,065 shares of the company’s stock valued at $35,000 after acquiring an additional 750 shares during the period. Sunbelt Securities Inc. acquired a new stake in Fresh Del Monte Produce during the third quarter worth about $77,000. Finally, Tower Research Capital LLC TRC raised its holdings in shares of Fresh Del Monte Produce by 34.7% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,010 shares of the company’s stock worth $98,000 after purchasing an additional 775 shares during the period. Hedge funds and other institutional investors own 64.83% of the company’s stock.

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.