Fresh Del Monte Produce (FDP) Lowered to “C+” at TheStreet

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TheStreet cut shares of Fresh Del Monte Produce (NYSE:FDP) from a b- rating to a c+ rating in a research report report published on Friday morning.

FDP stock opened at $37.96 on Friday. The company has a quick ratio of 1.16, a current ratio of 2.20 and a debt-to-equity ratio of 0.38. The stock has a market cap of $1.86 billion, a price-to-earnings ratio of 32.30 and a beta of 0.33. Fresh Del Monte Produce has a twelve month low of $34.29 and a twelve month high of $52.43.

Fresh Del Monte Produce (NYSE:FDP) last posted its earnings results on Tuesday, July 31st. The company reported $0.14 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.27 by ($1.13). The company had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.28 billion. Fresh Del Monte Produce had a net margin of 0.91% and a return on equity of 3.19%. The firm’s quarterly revenue was up 10.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.40 EPS.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 7th. Shareholders of record on Wednesday, August 15th will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 1.58%. The ex-dividend date of this dividend is Tuesday, August 14th.

In other news, insider Youssef Zakharia sold 1,380 shares of Fresh Del Monte Produce stock in a transaction dated Tuesday, July 31st. The stock was sold at an average price of $35.49, for a total transaction of $48,976.20. Following the completion of the sale, the insider now owns 4,506 shares in the company, valued at approximately $159,917.94. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Emanuel Lazopoulos sold 3,099 shares of Fresh Del Monte Produce stock in a transaction dated Thursday, August 9th. The shares were sold at an average price of $39.04, for a total value of $120,984.96. The disclosure for this sale can be found here. In the last quarter, insiders have sold 48,407 shares of company stock valued at $2,029,612. Corporate insiders own 39.00% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of FDP. Algert Global LLC bought a new stake in shares of Fresh Del Monte Produce during the 1st quarter valued at about $3,542,000. SG Americas Securities LLC bought a new stake in shares of Fresh Del Monte Produce during the 1st quarter valued at about $235,000. Trexquant Investment LP bought a new stake in shares of Fresh Del Monte Produce during the 1st quarter valued at about $479,000. Boston Partners boosted its position in shares of Fresh Del Monte Produce by 56.6% during the 1st quarter. Boston Partners now owns 752,611 shares of the company’s stock valued at $34,048,000 after acquiring an additional 272,054 shares during the last quarter. Finally, Swiss National Bank boosted its position in shares of Fresh Del Monte Produce by 2.3% during the 1st quarter. Swiss National Bank now owns 56,700 shares of the company’s stock valued at $2,565,000 after acquiring an additional 1,300 shares during the last quarter. Hedge funds and other institutional investors own 63.55% of the company’s stock.

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 worldwide. It offers fresh produce products consisting of bananas, pineapples, melons, tomatoes, grapes, apples, pears, peaches, plums, nectarines, cherries, citrus, avocados, blueberries, strawberries, and kiwi; various vegetables, including potatoes, onions, bell peppers, and cucumbers; and various other fruits, such as plantains and mangos.

Further Reading: Price to Earnings Ratio (PE) Basics

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