Weiss Ratings Reaffirms "Buy (B)" Rating for Fresh Del Monte Produce (NYSE:FDP)

Fresh Del Monte Produce (NYSE:FDP - Get Free Report)'s stock had its "buy (b)" rating reaffirmed by equities research analysts at Weiss Ratings in a note issued to investors on Wednesday,Weiss Ratings reports.

Separately, Wall Street Zen cut shares of Fresh Del Monte Produce from a "strong-buy" rating to a "buy" rating in a research note on Saturday, September 13th. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy".

Fresh Del Monte Produce Stock Down 1.6%

FDP stock opened at $33.54 on Wednesday. The company has a fifty day moving average price of $35.75 and a 200 day moving average price of $33.95. Fresh Del Monte Produce has a 12 month low of $26.50 and a 12 month high of $40.75. The company has a market cap of $1.61 billion, a price-to-earnings ratio of 10.75 and a beta of 0.41. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.08 and a quick ratio of 1.11.

Fresh Del Monte Produce (NYSE:FDP - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The company reported $1.23 EPS for the quarter, beating the consensus estimate of $0.95 by $0.28. The firm had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.16 billion. Fresh Del Monte Produce had a net margin of 3.49% and a return on equity of 6.84%. Fresh Del Monte Produce's revenue for the quarter was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.06 EPS.

Insider Activity at Fresh Del Monte Produce

In other news, SVP Ziad Nabulsi sold 1,000 shares of the company's stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $35.95, for a total transaction of $35,950.00. Following the transaction, the senior vice president directly owned 10,498 shares of the company's stock, valued at $377,403.10. This represents a 8.70% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Gianpaolo Renino sold 12,192 shares of the company's stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $36.53, for a total transaction of $445,373.76. Following the transaction, the senior vice president directly owned 3,197 shares in the company, valued at approximately $116,786.41. This trade represents a 79.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 137,039 shares of company stock valued at $5,010,709. Company insiders own 31.60% of the company's stock.

Hedge Funds Weigh In On Fresh Del Monte Produce

A number of institutional investors and hedge funds have recently made changes to their positions in FDP. EverSource Wealth Advisors LLC grew its stake in shares of 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 period. Geneos Wealth Management Inc. grew its stake in shares of 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 period. Tower Research Capital LLC TRC grew its stake in Fresh Del Monte Produce by 34.7% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,010 shares of the company's stock valued at $98,000 after acquiring an additional 775 shares during the last quarter. BNP Paribas Financial Markets grew its stake in Fresh Del Monte Produce by 34.2% in the 2nd quarter. BNP Paribas Financial Markets now owns 3,543 shares of the company's stock valued at $115,000 after acquiring an additional 902 shares during the last quarter. Finally, State of Wyoming grew its stake in Fresh Del Monte Produce by 230.1% in the 1st quarter. State of Wyoming now owns 5,321 shares of the company's stock valued at $164,000 after acquiring an additional 3,709 shares during the last quarter. 64.83% of the stock is owned by institutional investors and hedge funds.

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.

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