Fresh Del Monte Produce Inc (NYSE:FDP) Sees Significant Growth in Short Interest

Share on StockTwits

Fresh Del Monte Produce Inc (NYSE:FDP) was the target of a significant growth in short interest during the month of July. As of July 31st, there was short interest totalling 1,033,100 shares, a growth of 12.4% from the June 30th total of 918,900 shares. Approximately 3.4% of the company’s stock are short sold. Based on an average daily volume of 274,600 shares, the days-to-cover ratio is currently 3.8 days.

In related news, Director Michael J. Berthelot sold 2,207 shares of the stock in a transaction on Friday, May 17th. The shares were sold at an average price of $29.37, for a total transaction of $64,819.59. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold 4,675 shares of company stock valued at $134,310 in the last 90 days. 37.60% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Nuveen Asset Management LLC acquired a new stake in Fresh Del Monte Produce during the second quarter worth about $5,668,000. UBS Asset Management Americas Inc. grew its stake in Fresh Del Monte Produce by 10.9% during the second quarter. UBS Asset Management Americas Inc. now owns 27,885 shares of the company’s stock worth $752,000 after buying an additional 2,747 shares in the last quarter. Cubist Systematic Strategies LLC acquired a new stake in Fresh Del Monte Produce during the second quarter worth about $547,000. AQR Capital Management LLC grew its stake in Fresh Del Monte Produce by 5.6% during the second quarter. AQR Capital Management LLC now owns 30,714 shares of the company’s stock worth $828,000 after buying an additional 1,618 shares in the last quarter. Finally, Man Group plc grew its stake in Fresh Del Monte Produce by 50.2% during the second quarter. Man Group plc now owns 23,128 shares of the company’s stock worth $623,000 after buying an additional 7,728 shares in the last quarter. 59.79% of the stock is currently owned by hedge funds and other institutional investors.

NYSE FDP traded down $0.87 on Thursday, hitting $25.46. 293,500 shares of the stock were exchanged, compared to its average volume of 243,483. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.91 and a quick ratio of 0.47. The business’s fifty day moving average is $26.93 and its 200 day moving average is $27.74. Fresh Del Monte Produce has a 52 week low of $22.98 and a 52 week high of $38.82. The company has a market capitalization of $1.35 billion, a PE ratio of 46.48 and a beta of 0.84.

Fresh Del Monte Produce (NYSE:FDP) last posted its quarterly earnings results on Tuesday, July 30th. The company reported $0.69 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.66 by $0.03. Fresh Del Monte Produce had a net margin of 0.41% and a return on equity of 1.65%. The firm had revenue of $1.24 billion for the quarter. During the same period last year, the company posted $0.14 earnings per share. The business’s revenue was down 2.6% compared to the same quarter last year.

The company also recently declared a quarterly dividend, which will be paid on Friday, September 6th. Shareholders of record on Wednesday, August 14th will be given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.94%. The ex-dividend date of this dividend is Tuesday, August 13th.

About Fresh Del Monte Produce

Fresh Del Monte Produce Inc, through its subsidiaries, produces, markets, and distributes fresh and fresh-cut fruits and vegetables in North America, Europe, the Middle East, Africa, Asia, and internationally. It offers fresh produce products, such as bananas, pineapples, melons, tomatoes, grapes, apples, pears, peaches, plums, nectarines, cherries, citrus, avocados, blueberries, strawberries, and kiwi; various vegetables, including potatoes, onions, bell peppers, cucumbers, whole lettuce, broccoli, cauliflower, and other vegetables; and various other fruits, such as plantains and mangoes.

Read More: Return on Investment (ROI) Defined, Explained

Receive News & Ratings for Fresh Del Monte Produce Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fresh Del Monte Produce and related companies with MarketBeat.com's FREE daily email newsletter.