Fresh Del Monte Produce (NYSE:FDP) Hits New 1-Year High – Should You Buy?

Fresh Del Monte Produce, Inc. (NYSE:FDP) shares hit a new 52-week high on Tuesday . The company traded as high as $36.08 and last traded at $35.65, with a volume of 371489 shares changing hands. The stock had previously closed at $35.63.

Fresh Del Monte Produce Trading Up 9.0%

The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.01 and a current ratio of 2.05. The company’s fifty day simple moving average is $33.77 and its 200-day simple moving average is $32.20. The company has a market capitalization of $1.88 billion, a P/E ratio of 12.84 and a beta of 0.38.

Fresh Del Monte Produce (NYSE:FDP) last announced its earnings results on Wednesday, July 30th. The company reported $1.23 EPS for the quarter, topping analysts’ consensus estimates of $0.95 by $0.28. Fresh Del Monte Produce had a net margin of 3.45% and a return on equity of 6.52%. The business had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.16 billion. During the same period in the previous year, the company posted $1.06 earnings per share. The firm’s revenue was up 3.8% on a year-over-year basis.

Fresh Del Monte Produce Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 5th. Stockholders of record on Wednesday, August 13th will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 3.05%. Fresh Del Monte Produce’s payout ratio is 39.22%.

Hedge Funds Weigh In On Fresh Del Monte Produce

Several large investors have recently made changes to their positions in FDP. LPL Financial LLC purchased a new stake in Fresh Del Monte Produce during the 4th quarter valued at about $434,000. Vanguard Group Inc. lifted its stake in Fresh Del Monte Produce by 2.8% during the fourth quarter. Vanguard Group Inc. now owns 4,809,451 shares of the company’s stock worth $159,722,000 after purchasing an additional 133,122 shares during the last quarter. Brandywine Global Investment Management LLC grew its stake in Fresh Del Monte Produce by 11.3% during the 4th quarter. Brandywine Global Investment Management LLC now owns 162,629 shares of the company’s stock worth $5,401,000 after buying an additional 16,558 shares during the last quarter. Franklin Resources Inc. grew its position in shares of Fresh Del Monte Produce by 60.6% during the fourth quarter. Franklin Resources Inc. now owns 58,962 shares of the company’s stock worth $1,958,000 after acquiring an additional 22,252 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in Fresh Del Monte Produce by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 776,161 shares of the company’s stock valued at $25,782,000 after purchasing an additional 3,045 shares in the last quarter. 64.83% of the stock is currently owned by institutional investors and hedge funds.

About Fresh Del Monte Produce

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.