Fresh Del Monte Produce Inc. (NYSE:FDP) Short Interest Up 17.4% in March

Fresh Del Monte Produce Inc. (NYSE:FDP - Get Free Report) saw a significant increase in short interest during the month of March. As of March 15th, there was short interest totalling 254,300 shares, an increase of 17.4% from the February 29th total of 216,700 shares. Approximately 0.7% of the shares of the company are short sold. Based on an average daily volume of 226,600 shares, the days-to-cover ratio is currently 1.1 days.

Fresh Del Monte Produce Price Performance

FDP stock traded down $0.12 during mid-day trading on Friday, reaching $25.91. The company's stock had a trading volume of 309,617 shares, compared to its average volume of 258,255. The stock has a market cap of $1.23 billion, a PE ratio of -103.64 and a beta of 0.55. The company has a current ratio of 2.12, a quick ratio of 1.01 and a debt-to-equity ratio of 0.21. Fresh Del Monte Produce has a fifty-two week low of $21.41 and a fifty-two week high of $30.95. The company's 50 day moving average is $24.52 and its two-hundred day moving average is $24.83.

Fresh Del Monte Produce (NYSE:FDP - Get Free Report) last released its quarterly earnings data on Monday, February 26th. The company reported $0.25 EPS for the quarter, missing analysts' consensus estimates of $0.31 by ($0.06). Fresh Del Monte Produce had a negative net margin of 0.26% and a positive return on equity of 5.11%. The business had revenue of $1.01 billion during the quarter, compared to analyst estimates of $1.03 billion. During the same quarter in the previous year, the company posted $0.45 EPS. The firm's revenue was down 3.0% on a year-over-year basis.

Fresh Del Monte Produce Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Thursday, March 7th were paid a $0.25 dividend. This is a boost from Fresh Del Monte Produce's previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Wednesday, March 6th. This represents a $1.00 annualized dividend and a dividend yield of 3.86%. Fresh Del Monte Produce's dividend payout ratio is -400.00%.

Insider Buying and Selling at Fresh Del Monte Produce

In other Fresh Del Monte Produce news, CFO Monica Vicente sold 1,083 shares of the company's stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $24.35, for a total value of $26,371.05. Following the completion of the transaction, the chief financial officer now owns 5,266 shares in the company, valued at $128,227.10. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, CFO Monica Vicente sold 1,083 shares of the company's stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $24.35, for a total transaction of $26,371.05. Following the completion of the transaction, the chief financial officer now owns 5,266 shares in the company, valued at approximately $128,227.10. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Ghazaleh Amir Abu purchased 10,000 shares of Fresh Del Monte Produce stock in a transaction that occurred on Wednesday, February 28th. The shares were bought at an average price of $23.62 per share, with a total value of $236,200.00. Following the transaction, the director now owns 3,264,308 shares in the company, valued at $77,102,954.96. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 10,244 shares of company stock valued at $250,088. 29.70% of the stock is owned by insiders.

Institutional Trading of Fresh Del Monte Produce

Hedge funds have recently made changes to their positions in the company. Hsbc Holdings PLC grew its stake in shares of Fresh Del Monte Produce by 53.6% in the 3rd quarter. Hsbc Holdings PLC now owns 45,147 shares of the company's stock valued at $1,162,000 after buying an additional 15,759 shares during the period. Victory Capital Management Inc. boosted its position in shares of Fresh Del Monte Produce by 15.7% during the 3rd quarter. Victory Capital Management Inc. now owns 479,557 shares of the company's stock worth $12,392,000 after purchasing an additional 64,993 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of Fresh Del Monte Produce by 2.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 821,636 shares of the company's stock worth $21,231,000 after purchasing an additional 21,664 shares during the period. LSV Asset Management boosted its position in shares of Fresh Del Monte Produce by 91.2% during the 3rd quarter. LSV Asset Management now owns 204,204 shares of the company's stock worth $5,277,000 after purchasing an additional 97,404 shares during the period. Finally, Illinois Municipal Retirement Fund purchased a new position in shares of Fresh Del Monte Produce during the 3rd quarter worth approximately $448,000. Hedge funds and other institutional investors own 64.83% of the company's stock.

Analyst Upgrades and Downgrades

Separately, TheStreet downgraded shares of Fresh Del Monte Produce from a "b-" rating to a "c" rating in a research report on Monday, February 26th.

Fresh Del Monte Produce Company Profile

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.