Fresh Del Monte Produce (NYSE:FDP) Stock Passes Above Two Hundred Day Moving Average – Time to Sell?

Fresh Del Monte Produce, Inc. (NYSE:FDP) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $37.24 and traded as high as $42.22. Fresh Del Monte Produce shares last traded at $41.9950, with a volume of 639,036 shares.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on FDP. Wall Street Zen raised Fresh Del Monte Produce from a “hold” rating to a “buy” rating in a research report on Saturday, February 21st. Weiss Ratings raised Fresh Del Monte Produce from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, February 23rd. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy”.

Fresh Del Monte Produce Trading Up 5.4%

The company has a debt-to-equity ratio of 0.09, a current ratio of 2.16 and a quick ratio of 1.06. The business’s 50 day moving average is $40.23 and its 200 day moving average is $37.24. The stock has a market cap of $1.99 billion, a price-to-earnings ratio of 22.34 and a beta of 0.28.

Fresh Del Monte Produce (NYSE:FDP) last posted its earnings results on Wednesday, February 18th. The company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.28 by $0.42. The firm had revenue of $968.20 million for the quarter, compared to analyst estimates of $1.01 billion. Fresh Del Monte Produce had a return on equity of 7.63% and a net margin of 2.10%.Fresh Del Monte Produce’s revenue for the quarter was up .6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.26 earnings per share.

Fresh Del Monte Produce Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 27th. Stockholders of record on Wednesday, March 4th will be given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 2.9%. The ex-dividend date of this dividend is Wednesday, March 4th. Fresh Del Monte Produce’s dividend payout ratio (DPR) is 63.83%.

Insider Buying and Selling at Fresh Del Monte Produce

In other Fresh Del Monte Produce news, SVP Marissa R. Tenazas sold 1,969 shares of the stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $42.28, for a total value of $83,249.32. Following the transaction, the senior vice president directly owned 6,428 shares in the company, valued at $271,775.84. This represents a 23.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Gianpaolo Renino sold 6,297 shares of the firm’s stock in a transaction that occurred on Friday, March 6th. The stock was sold at an average price of $41.46, for a total transaction of $261,073.62. Following the sale, the senior vice president directly owned 3,198 shares in the company, valued at approximately $132,589.08. The trade was a 66.32% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 32,105 shares of company stock worth $1,348,967. 30.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of FDP. Wasatch Advisors LP raised its stake in Fresh Del Monte Produce by 41.1% during the 3rd quarter. Wasatch Advisors LP now owns 1,915,156 shares of the company’s stock worth $66,494,000 after acquiring an additional 557,638 shares in the last quarter. LSV Asset Management boosted its stake in Fresh Del Monte Produce by 0.6% in the fourth quarter. LSV Asset Management now owns 1,741,494 shares of the company’s stock valued at $62,049,000 after acquiring an additional 10,246 shares in the last quarter. American Century Companies Inc. grew its holdings in shares of Fresh Del Monte Produce by 9.5% during the third quarter. American Century Companies Inc. now owns 1,359,355 shares of the company’s stock worth $47,197,000 after purchasing an additional 117,567 shares during the last quarter. State Street Corp grew its holdings in shares of Fresh Del Monte Produce by 0.7% during the fourth quarter. State Street Corp now owns 1,336,786 shares of the company’s stock worth $47,630,000 after purchasing an additional 9,933 shares during the last quarter. Finally, Invesco Ltd. increased its position in shares of Fresh Del Monte Produce by 19.2% during the third quarter. Invesco Ltd. now owns 931,653 shares of the company’s stock worth $32,347,000 after purchasing an additional 150,092 shares in the last quarter. 64.83% of the stock is owned by hedge funds and other institutional investors.

Fresh Del Monte Produce Company Profile

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.