Fresh Del Monte Produce (NYSE:FDP) Reaches New 52-Week Low – Time to Sell?

Fresh Del Monte Produce, Inc. (NYSE:FDP) shares reached a new 52-week low during mid-day trading on Monday . The stock traded as low as $29.01 and last traded at $28.7650, with a volume of 47639 shares changing hands. The stock had previously closed at $29.52.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on FDP. Wall Street Zen downgraded Fresh Del Monte Produce from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Weiss Ratings downgraded Fresh Del Monte Produce from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, May 11th. One analyst has rated the stock with a Hold rating, According to MarketBeat, the stock has an average rating of “Hold”.

Fresh Del Monte Produce Trading Up 0.8%

The company has a debt-to-equity ratio of 0.22, a current ratio of 2.34 and a quick ratio of 1.10. The business has a 50-day simple moving average of $37.14 and a two-hundred day simple moving average of $38.15. The stock has a market cap of $1.35 billion, a price-to-earnings ratio of 19.64 and a beta of 0.22.

Fresh Del Monte Produce (NYSE:FDP) last released its quarterly earnings data on Wednesday, May 6th. The company reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.01. Fresh Del Monte Produce had a return on equity of 7.61% and a net margin of 1.63%.The company had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.03 billion. During the same period last year, the firm posted $0.63 earnings per share. The business’s revenue was down 4.9% on a year-over-year basis.

Fresh Del Monte Produce Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 11th. Stockholders of record on Tuesday, May 19th will be given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date of this dividend is Tuesday, May 19th. Fresh Del Monte Produce’s dividend payout ratio (DPR) is presently 82.76%.

Insider Activity

In other news, SVP Marissa R. Tenazas sold 1,046 shares of the firm’s stock in a transaction that occurred on Thursday, April 2nd. The stock was sold at an average price of $40.40, for a total value of $42,258.40. Following the completion of the sale, the senior vice president directly owned 8,050 shares of the company’s stock, valued at $325,220. This trade represents a 11.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 30.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Fresh Del Monte Produce

A number of institutional investors have recently made changes to their positions in the company. Parallel Advisors LLC boosted its holdings in shares of Fresh Del Monte Produce by 8.5% during the first quarter. Parallel Advisors LLC now owns 5,659 shares of the company’s stock worth $228,000 after acquiring an additional 445 shares during the period. NewEdge Advisors LLC boosted its holdings in shares of Fresh Del Monte Produce by 16.9% during the first quarter. NewEdge Advisors LLC now owns 98,591 shares of the company’s stock worth $3,969,000 after acquiring an additional 14,289 shares during the period. Segall Bryant & Hamill LLC bought a new stake in shares of Fresh Del Monte Produce during the first quarter worth approximately $371,000. Edgestream Partners L.P. boosted its holdings in shares of Fresh Del Monte Produce by 58.3% during the first quarter. Edgestream Partners L.P. now owns 81,018 shares of the company’s stock worth $3,262,000 after acquiring an additional 29,845 shares during the period. Finally, Quantinno Capital Management LP boosted its holdings in shares of Fresh Del Monte Produce by 226.8% during the first quarter. Quantinno Capital Management LP now owns 64,887 shares of the company’s stock worth $2,612,000 after acquiring an additional 45,034 shares during the period. 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.