Fresh Del Monte Produce Inc. (NYSE:FDP) Sees Large Drop in Short Interest

Fresh Del Monte Produce Inc. (NYSE:FDP) was the recipient of a large drop in short interest in December. As of December 15th, there was short interest totalling 256,800 shares, a drop of 11.3% from the November 30th total of 289,400 shares. Approximately 0.7% of the shares of the stock are sold short. Based on an average daily volume of 279,600 shares, the short-interest ratio is currently 0.9 days.

Fresh Del Monte Produce Price Performance

Fresh Del Monte Produce stock opened at $33.08 on Monday. Fresh Del Monte Produce has a 52 week low of $21.23 and a 52 week high of $35.27. The firm has a market capitalization of $1.59 billion, a PE ratio of 100.25 and a beta of 0.41. The company has a quick ratio of 1.04, a current ratio of 2.09 and a debt-to-equity ratio of 0.14. The firm’s 50-day simple moving average is $32.94 and its 200 day simple moving average is $28.59.

Fresh Del Monte Produce (NYSE:FDP) last issued its quarterly earnings data 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. The business had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $989.45 million. Fresh Del Monte Produce had a return on equity of 5.91% and a net margin of 0.36%. The business’s revenue was up 1.6% on a year-over-year basis. During the same period in the prior year, the business earned $0.35 earnings per share.

Fresh Del Monte Produce Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Thursday, November 14th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.02%. The ex-dividend date was Thursday, November 14th. Fresh Del Monte Produce’s dividend payout ratio is currently 303.03%.

Institutional Investors Weigh In On Fresh Del Monte Produce

Several hedge funds have recently modified their holdings of the stock. nVerses Capital LLC purchased a new stake in shares of Fresh Del Monte Produce during the 2nd quarter valued at $28,000. Canada Pension Plan Investment Board acquired a new position in Fresh Del Monte Produce in the second quarter valued at $68,000. Point72 DIFC Ltd purchased a new stake in Fresh Del Monte Produce during the second quarter valued at about $91,000. GAMMA Investing LLC increased its stake in Fresh Del Monte Produce by 125.9% during the third quarter. GAMMA Investing LLC now owns 3,624 shares of the company’s stock worth $107,000 after acquiring an additional 2,020 shares during the last quarter. Finally, Royce & Associates LP acquired a new stake in Fresh Del Monte Produce during the third quarter worth about $201,000. 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.