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

Fresh Del Monte Produce, Inc. (NYSE:FDP - Get Free Report) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $31.99 and traded as high as $32.23. Fresh Del Monte Produce shares last traded at $32.02, with a volume of 444,116 shares.

Wall Street Analyst Weigh In

Separately, Wall Street Zen cut Fresh Del Monte Produce from a "buy" rating to a "hold" rating in a research note on Tuesday, March 25th.

Fresh Del Monte Produce Stock Performance

The company's fifty day simple moving average is $33.43 and its two-hundred day simple moving average is $31.96. 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 stock has a market capitalization of $1.59 billion, a P/E ratio of 10.87 and a beta of 0.38.

Fresh Del Monte Produce (NYSE:FDP - Get Free Report) last posted its earnings results on Wednesday, April 30th. The company reported $0.63 EPS for the quarter, beating the consensus estimate of $0.62 by $0.01. The company had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.12 billion. Fresh Del Monte Produce had a return on equity of 6.52% and a net margin of 3.45%. The firm's revenue for the quarter was down .9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.34 earnings per share.

Fresh Del Monte Produce Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 6th. Stockholders of record on Wednesday, May 14th were issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.61%. The ex-dividend date of this dividend was Wednesday, May 14th. Fresh Del Monte Produce's dividend payout ratio is currently 39.22%.

Insider Activity

In related news, SVP Marissa R. Tenazas sold 1,148 shares of the firm's stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $31.05, for a total transaction of $35,645.40. Following the transaction, the senior vice president directly owned 3,573 shares of the company's stock, valued at approximately $110,941.65. This trade represents a 24.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 30.10% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. GAMMA Investing LLC raised its stake in Fresh Del Monte Produce by 2,671.9% in the first quarter. GAMMA Investing LLC now owns 207,393 shares of the company's stock valued at $6,727,000 after purchasing an additional 199,911 shares in the last quarter. CWA Asset Management Group LLC increased its holdings in Fresh Del Monte Produce by 65.5% in the 1st quarter. CWA Asset Management Group LLC now owns 31,131 shares of the company's stock valued at $960,000 after buying an additional 12,316 shares during the period. Waterfront Wealth Inc. raised its position in shares of Fresh Del Monte Produce by 111.0% in the 1st quarter. Waterfront Wealth Inc. now owns 47,673 shares of the company's stock valued at $1,470,000 after buying an additional 25,081 shares in the last quarter. Deutsche Bank AG raised its position in shares of Fresh Del Monte Produce by 44.9% in the 4th quarter. Deutsche Bank AG now owns 31,761 shares of the company's stock valued at $1,055,000 after buying an additional 9,848 shares in the last quarter. Finally, Intech Investment Management LLC lifted its holdings in shares of Fresh Del Monte Produce by 253.1% during the 4th quarter. Intech Investment Management LLC now owns 44,846 shares of the company's stock worth $1,489,000 after acquiring an additional 32,145 shares during the period. Institutional investors and hedge funds own 64.83% of the company's stock.

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.