Fresh Del Monte Produce (NYSE:DMC) Stock Rated "Hold" in New Coverage at Freedom Broker

Key Points

• Freedom Broker initiated coverage of Fresh Del Monte Produce with a “Hold” rating. The two other analyst ratings cited are also Hold, giving the stock a consensus Hold rating.
• Fresh Del Monte reported quarterly EPS of $0.50, beating the $0.46 consensus estimate, while revenue rose 7.2% year over year to $1.10 billion. EPS was down from $0.69 in the same quarter last year.
• The shares were reported up 5.8%, opening at $28.73; they remain within a 52-week range of $26.09 to $43.58.

Analysts at Freedom Broker started coverage on shares of Fresh Del Monte Produce (NYSE:DMC - Get Free Report) in a research note issued on Wednesday, Zacks reports. The firm set a "hold" rating on the stock.

Several other research analysts also recently issued reports on DMC. Weiss Ratings downgraded shares of Fresh Del Monte Produce from a "hold (c)" rating to a "hold (c-)" rating in a research report on Friday, October 30th. Wall Street Zen cut shares of Fresh Del Monte Produce from a "buy" rating to a "hold" rating in a report on Saturday, October 31st. Two research analysts have rated the stock with a Hold rating. According to MarketBeat, the company presently has a consensus rating of "Hold".

Fresh Del Monte Produce Trading Up 5.8%

Shares of NYSE DMC opened at $28.73 on Wednesday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.93 and a current ratio of 2.30. Fresh Del Monte Produce has a twelve month low of $26.09 and a twelve month high of $43.58. The company has a 50 day moving average price of $30.27. The stock has a market capitalization of $1.35 billion, a PE ratio of 10.65 and a beta of 0.25.

Fresh Del Monte Produce (NYSE:DMC - Get Free Report) last announced its earnings results on Thursday, October 29th. The company reported $0.50 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.46 by $0.04. Fresh Del Monte Produce had a net margin of 1.86% and a return on equity of 5.96%. The business had revenue of $1.10 billion for the quarter. During the same quarter last year, the business posted $0.69 earnings per share. The business's revenue was up 7.2% on a year-over-year basis.

Institutional Trading of Fresh Del Monte Produce

Hedge funds have recently made changes to their positions in the company. Integrated Wealth Concepts LLC acquired a new stake in Fresh Del Monte Produce in the second quarter valued at about $26,000. Fortitude Family Office LLC acquired a new position in Fresh Del Monte Produce during the 3rd quarter worth approximately $61,000. Farther Finance Advisors LLC acquired a new position in Fresh Del Monte Produce during the 3rd quarter worth approximately $84,000. Signaturefd LLC increased its position in Fresh Del Monte Produce by 212.0% during the 3rd quarter. Signaturefd LLC now owns 4,374 shares of the company's stock worth $131,000 after purchasing an additional 2,972 shares during the period. Finally, Moss Adams Wealth Advisors LLC purchased a new position in shares of Fresh Del Monte Produce during the 3rd quarter worth approximately $201,000. Institutional investors and hedge funds own 64.83% of the company's stock.

Fresh Del Monte Produce Company Profile

Fresh Del Monte Produce Inc is a vertically integrated producer, distributor and marketer of fresh and prepared fruits and vegetables. Its product portfolio includes bananas, pineapples, melons, avocados, berries, grapes, tomatoes and other fresh produce, along with prepared fruit, vegetables, juices and snacks sold under the Del Monte brand and other labels.

The company manages activities across the produce supply chain, including cultivation, sourcing, harvesting, processing, packaging, transportation and distribution.

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