Fresh Del Monte Produce (NYSE:FDP) Downgraded by Wall Street Zen to “Buy”

Fresh Del Monte Produce (NYSE:FDP) was downgraded by research analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a report released on Saturday.

Fresh Del Monte Produce Stock Down 0.3%

NYSE:FDP opened at $35.68 on Friday. The firm has a market capitalization of $1.71 billion, a price-to-earnings ratio of 11.44 and a beta of 0.43. Fresh Del Monte Produce has a twelve month low of $26.50 and a twelve month high of $40.75. The stock’s 50 day moving average price is $35.57 and its two-hundred day moving average price is $33.34. The company has a quick ratio of 1.11, a current ratio of 2.08 and a debt-to-equity ratio of 0.10.

Fresh Del Monte Produce (NYSE:FDP) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $1.23 earnings per share for the quarter, topping the consensus estimate of $0.95 by $0.28. The firm had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.16 billion. Fresh Del Monte Produce had a return on equity of 6.84% and a net margin of 3.49%.The business’s quarterly revenue was up 3.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.06 EPS.

Insiders Place Their Bets

In related news, SVP Gianpaolo Renino sold 12,192 shares of the business’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $116,786.41. The trade was a 79.23% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Ziad Nabulsi sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $35.95, for a total value of $35,950.00. Following the transaction, the senior vice president directly owned 10,498 shares in the company, valued at $377,403.10. The trade was a 8.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 137,039 shares of company stock valued at $5,010,709 over the last 90 days. 31.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. EverSource Wealth Advisors LLC increased its holdings 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 acquiring an additional 766 shares during the last quarter. Geneos Wealth Management Inc. grew its holdings in Fresh Del Monte Produce by 238.1% in the 2nd quarter. Geneos Wealth Management Inc. now owns 1,065 shares of the company’s stock valued at $35,000 after buying an additional 750 shares in the last quarter. McIlrath & Eck LLC acquired a new position in Fresh Del Monte Produce in the 4th quarter valued at $48,000. State of Wyoming acquired a new position in Fresh Del Monte Produce in the 4th quarter valued at $54,000. Finally, Tower Research Capital LLC TRC grew its holdings 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 buying an additional 775 shares in 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.