Fresh Del Monte Produce (NYSE:FDP) Stock Price Crosses Above 200 Day Moving Average - Should You Sell?

Key Points

• Technical breakout: Fresh Del Monte's stock crossed above its 200-day moving average of $37.80, trading as high as $42.86 and last at $41.97 on volume of 185,834 shares.
• Analyst sentiment turned positive: Recent upgrades from Wall Street Zen and Weiss Ratings moved the consensus to an average "Buy" rating.
• Fundamentals and payout: The company reported quarterly EPS of $0.70 (vs. $0.28 estimate) but missed revenue estimates, pays a $0.30 quarterly dividend (2.9% yield) and has a P/E of 22.32 with a $1.99 billion market cap.

Fresh Del Monte Produce, Inc. (NYSE:FDP - Get Free Report)'s stock price passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $37.80 and traded as high as $42.86. Fresh Del Monte Produce shares last traded at $41.9680, with a volume of 185,834 shares changing hands.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on FDP shares. Wall Street Zen upgraded shares of Fresh Del Monte Produce from a "hold" rating to a "buy" rating in a report on Saturday, February 21st. Weiss Ratings upgraded shares of Fresh Del Monte Produce from a "hold (c+)" rating to a "buy (b-)" rating in a report on Monday, February 23rd. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the company presently has an average rating of "Buy".

Fresh Del Monte Produce Stock Performance

The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.06 and a current ratio of 2.16. The stock has a market cap of $1.99 billion, a P/E ratio of 22.32 and a beta of 0.28. The firm's 50 day moving average is $41.23 and its 200 day moving average is $37.80.

Fresh Del Monte Produce (NYSE:FDP - Get Free Report) last posted its quarterly earnings data on Thursday, February 19th. The company reported $0.70 EPS for the quarter, topping the consensus estimate of $0.28 by $0.42. The firm had revenue of $968.20 million during the quarter, compared to analyst estimates of $1.01 billion. Fresh Del Monte Produce had a net margin of 2.10% and a return on equity of 7.63%. Fresh Del Monte Produce's revenue was up .6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.26 EPS.

Fresh Del Monte Produce Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 27th. Investors of record on Wednesday, March 4th were paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 2.9%. The ex-dividend date was Wednesday, March 4th. Fresh Del Monte Produce's payout ratio is 63.83%.

Insider Activity

In other Fresh Del Monte Produce news, SVP Gianpaolo Renino sold 6,297 shares of the business's stock in a transaction that occurred on Friday, March 6th. The shares were sold at an average price of $41.46, for a total transaction of $261,073.62. Following the sale, the senior vice president owned 3,198 shares of the company's stock, valued at approximately $132,589.08. The trade was a 66.32% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Mohammed Abbas sold 3,458 shares of the business's stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $42.28, for a total transaction of $146,204.24. Following the sale, the chief operating officer directly owned 59,930 shares in the company, valued at approximately $2,533,840.40. This represents a 5.46% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 33,151 shares of company stock worth $1,391,225 over the last 90 days. 31.60% of the stock is currently owned by insiders.

Institutional Trading of Fresh Del Monte Produce

Large investors have recently bought and sold shares of the stock. EverSource Wealth Advisors LLC grew its position in Fresh Del Monte Produce by 390.8% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 962 shares of the company's stock worth $31,000 after purchasing an additional 766 shares during the last quarter. Larson Financial Group LLC grew its position in Fresh Del Monte Produce by 1,488.5% during the 3rd quarter. Larson Financial Group LLC now owns 969 shares of the company's stock worth $34,000 after purchasing an additional 908 shares during the last quarter. Geneos Wealth Management Inc. grew its position in Fresh Del Monte Produce by 238.1% during the 2nd quarter. Geneos Wealth Management Inc. now owns 1,065 shares of the company's stock worth $35,000 after purchasing an additional 750 shares during the last quarter. Leonteq Securities AG purchased a new stake in Fresh Del Monte Produce during the 4th quarter worth approximately $39,000. Finally, Aster Capital Management DIFC Ltd purchased a new stake in shares of Fresh Del Monte Produce in the 4th quarter valued at $61,000. Hedge funds and other 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.

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