Stock Traders Buy Large Volume of Put Options on Fresh Del Monte Produce (FDP)

Fresh Del Monte Produce Inc (NYSE:FDP) was the recipient of unusually large options trading activity on Thursday. Traders acquired 838 put options on the company. This represents an increase of 1,132% compared to the typical daily volume of 68 put options.

Fresh Del Monte Produce stock opened at $27.99 on Friday. Fresh Del Monte Produce has a twelve month low of $26.81 and a twelve month high of $52.43. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.97 and a current ratio of 1.94. The stock has a market capitalization of $1.34 billion, a PE ratio of 61.58 and a beta of 0.72.

Fresh Del Monte Produce (NYSE:FDP) last posted its earnings results on Tuesday, February 19th. The company reported ($0.43) earnings per share for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.55). Fresh Del Monte Produce had a positive return on equity of 1.21% and a negative net margin of 0.49%. The business had revenue of $1.05 billion during the quarter. During the same quarter in the previous year, the business posted ($0.08) EPS. The firm’s revenue was up 9.7% on a year-over-year basis.

Several hedge funds have recently added to or reduced their stakes in FDP. BlackRock Inc. boosted its stake in shares of Fresh Del Monte Produce by 1.6% during the 4th quarter. BlackRock Inc. now owns 2,279,709 shares of the company’s stock worth $64,447,000 after purchasing an additional 36,692 shares during the period. Boston Partners boosted its stake in shares of Fresh Del Monte Produce by 7.0% during the 4th quarter. Boston Partners now owns 734,651 shares of the company’s stock worth $20,769,000 after purchasing an additional 48,375 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of Fresh Del Monte Produce by 19.1% during the 4th quarter. Bank of New York Mellon Corp now owns 699,598 shares of the company’s stock worth $19,779,000 after purchasing an additional 112,377 shares during the period. Renaissance Technologies LLC boosted its stake in shares of Fresh Del Monte Produce by 42.6% during the 3rd quarter. Renaissance Technologies LLC now owns 555,600 shares of the company’s stock worth $18,829,000 after purchasing an additional 165,900 shares during the period. Finally, Bessemer Group Inc. boosted its stake in shares of Fresh Del Monte Produce by 90.3% during the 4th quarter. Bessemer Group Inc. now owns 402,154 shares of the company’s stock worth $11,369,000 after purchasing an additional 190,868 shares during the period. 59.19% of the stock is owned by hedge funds and other institutional investors.

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About Fresh Del Monte Produce

Fresh Del Monte Produce Inc, through its subsidiaries, produces, markets, and distributes fresh and fresh-cut fruits and vegetables worldwide. It offers fresh produce products consisting of bananas, pineapples, melons, tomatoes, grapes, apples, pears, peaches, plums, nectarines, cherries, citrus, avocados, blueberries, strawberries, and kiwi; various vegetables, including potatoes, onions, bell peppers, and cucumbers; and various other fruits, such as plantains and mangos.

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