Short Interest in Fresh Del Monte Produce Inc. (NYSE:FDP) Rises By 11.0%

Fresh Del Monte Produce Inc. (NYSE:FDP) saw a large growth in short interest in October. As of October 31st, there was short interest totalling 385,700 shares, a growth of 11.0% from the October 15th total of 347,500 shares. Based on an average trading volume of 261,200 shares, the short-interest ratio is currently 1.5 days. Approximately 1.0% of the company’s stock are sold short.

Institutional Trading of Fresh Del Monte Produce

Institutional investors and hedge funds have recently bought and sold shares of the business. nVerses Capital LLC purchased a new stake in Fresh Del Monte Produce in the 2nd quarter valued at $28,000. GAMMA Investing LLC raised its position in Fresh Del Monte Produce by 232.1% in the 2nd quarter. GAMMA Investing LLC now owns 1,604 shares of the company’s stock valued at $35,000 after purchasing an additional 1,121 shares during the last quarter. Lazard Asset Management LLC purchased a new stake in Fresh Del Monte Produce in the 1st quarter valued at $48,000. EntryPoint Capital LLC purchased a new stake in Fresh Del Monte Produce in the 1st quarter valued at $49,000. Finally, Canada Pension Plan Investment Board purchased a new stake in Fresh Del Monte Produce in the 2nd quarter valued at $68,000. Hedge funds and other institutional investors own 64.83% of the company’s stock.

Fresh Del Monte Produce Trading Up 1.0 %

Shares of Fresh Del Monte Produce stock opened at $33.78 on Monday. The company has a fifty day simple moving average of $30.15 and a 200-day simple moving average of $26.50. Fresh Del Monte Produce has a 12-month low of $21.23 and a 12-month high of $35.27. The company has a current ratio of 2.09, a quick ratio of 1.04 and a debt-to-equity ratio of 0.14. The stock has a market cap of $1.62 billion, a price-to-earnings ratio of 102.37 and a beta of 0.41.

Fresh Del Monte Produce (NYSE:FDP) last issued its earnings results on Thursday, October 31st. The company reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.30. Fresh Del Monte Produce had a net margin of 0.36% and a return on equity of 5.91%. The business had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $989.45 million. During the same quarter in the prior year, the business posted $0.35 EPS. The company’s revenue for the quarter was up 1.6% on a year-over-year basis.

Fresh Del Monte Produce Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Thursday, November 14th will be given a $0.25 dividend. The ex-dividend date is Thursday, November 14th. This represents a $1.00 annualized dividend and a yield of 2.96%. Fresh Del Monte Produce’s dividend payout ratio (DPR) is 303.04%.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded shares of Fresh Del Monte Produce from a “hold” rating to a “buy” rating in a report on Monday, August 5th.

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.