The stock of Fresh Del Monte Produce Inc (NYSE:FDP) hit a new 52-week high and has $83.42 target or 35.00% above today’s $61.79 share price. The 8 months bullish chart indicates low risk for the $3.19 billion company. The 1-year high was reported on Oct, 13 by Barchart.com. If the $83.42 price target is reached, the company will be worth $1.12 billion more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 157,839 shares traded hands. Fresh Del Monte Produce Inc (NYSE:FDP) has risen 43.37% since March 10, 2016 and is uptrending. It has outperformed by 35.85% the S&P500.
Analysts await Fresh Del Monte Produce Inc (NYSE:FDP) to report earnings on October, 25. They expect $0.54 earnings per share, 0.00% or $0.00 from last year’s $0.54 per share. FDP’s profit will be $27.88M for 28.61 P/E if the $0.54 EPS becomes a reality. After $1.75 actual earnings per share reported by Fresh Del Monte Produce Inc for the previous quarter, Wall Street now forecasts -69.14% negative EPS growth.
Fresh Del Monte Produce Inc (NYSE:FDP) Ratings Coverage
Out of 2 analysts covering Fresh Del Monte (NYSE:FDP), 1 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 50% are positive. $60 is the highest target while $45.0 is the lowest. The $60 average target is -2.90% below today’s ($61.79) stock price. Fresh Del Monte has been the topic of 3 analyst reports since January 5, 2016 according to StockzIntelligence Inc. The firm has “Buy” rating by Wunderlich given on Wednesday, May 11. The stock of Fresh Del Monte Produce Inc (NYSE:FDP) earned “Neutral” rating by Sidoti on Thursday, May 12. The stock of Fresh Del Monte Produce Inc (NYSE:FDP) earned “Buy” rating by Wunderlich on Tuesday, January 5.
According to Zacks Investment Research, “Fresh Del Monte Produce Inc. is a world leader in the production, distribution and marketing of fresh produce. The products are marketed throughout the world under the DEL MONTE brand name and is a widely recognized symbol of product quality and reliability. The major products are bananas, pineapples, deciduous fruit and melons. The deciduous fruit the company sells includes primarily grapes, plums, nectarines, peaches, apricots, cherries, apples, pears and citrus.”
Insitutional Activity: The institutional sentiment increased to 1.42 in Q2 2016. Its up 0.63, from 0.79 in 2016Q1. The ratio increased, as 10 funds sold all Fresh Del Monte Produce Inc shares owned while 50 reduced positions. 36 funds bought stakes while 49 increased positions. They now own 30.97 million shares or 7.54% less from 33.50 million shares in 2016Q1.
Nordea Inv Ab holds 0.01% or 49,100 shares in its portfolio. New York State Teachers Retirement Sys accumulated 2,900 shares or 0% of the stock. Northern Corporation has 523,096 shares for 0.01% of their US portfolio. Balyasny Asset Lc holds 0% or 6,300 shares in its portfolio. Susquehanna Intl Gru Ltd Liability Partnership holds 0% of its portfolio in Fresh Del Monte Produce Inc (NYSE:FDP) for 27,062 shares. Acadian Asset Mngmt Ltd Liability Company last reported 1.73M shares in the company. Robeco Institutional Asset Management Bv owns 47,080 shares or 0.02% of their US portfolio. Tfs Cap Limited Liability Com last reported 35,008 shares in the company. Hanseatic Mgmt Services Inc has 0.02% invested in the company for 788 shares. Indexiq Advisors Ltd Liability Corp reported 3,862 shares or 0.01% of all its holdings. Suntrust Banks Inc accumulated 0% or 11,732 shares. Cubist Systematic Strategies Ltd Limited Liability Company reported 5,186 shares or 0.02% of all its holdings. Amp Cap Limited holds 0.01% or 26,200 shares in its portfolio. Federated Pa accumulated 14,239 shares or 0% of the stock. Bnp Paribas Arbitrage, a New York-based fund reported 3,641 shares.
Insider Transactions: Since May 5, 2016, the stock had 0 insider buys, and 39 selling transactions for $18.80 million net activity. Shares for $23,868 were sold by Zakharia Youssef on Thursday, August 4. 6,894 Fresh Del Monte Produce Inc (NYSE:FDP) shares with value of $410,469 were sold by ABU GHAZALEH AMIR. $856,830 worth of Fresh Del Monte Produce Inc (NYSE:FDP) was sold by RICE PAUL on Thursday, August 4. The insider LAZOPOULOS EMANUEL sold $31,744. JORDAN BRUCE ALAN also sold $61,284 worth of Fresh Del Monte Produce Inc (NYSE:FDP) shares. $805,127 worth of shares were sold by CONTRERAS RICHARD on Thursday, August 4. 6,625 shares with value of $397,500 were sold by Mancilla Sergio on Friday, August 5.
More important recent Fresh Del Monte Produce Inc (NYSE:FDP) news were published by: Fool.com which released: “Why Fresh Del Monte Produce Inc.’s Shares Spiked 21% in May” on June 02, 2016, also Businesswire.com published article titled: “Fresh Del Monte Produce Inc. Reports Second Quarter 2016 Financial Results”, Businesswire.com published: “Fresh Del Monte Produce Inc. Announces Fourth Quarter and Full Year 2015 …” on February 23, 2016. More interesting news about Fresh Del Monte Produce Inc (NYSE:FDP) was released by: Businesswire.com and their article: “Fresh Del Monte Produce Inc. Reports Third Quarter 2015 Financial Results” with publication date: October 27, 2015.
FDP Company Profile
Fresh Del Monte Produce Inc., incorporated on August 29, 1996, is a holding company. Through its subsidiaries, the Company is engaged in sourcing, transportation and marketing of fresh and fresh-cut fruit and vegetables together with prepared food products in Europe, Africa and the Middle East. The Company’s activities are aggregated into business divisions on the basis of its products: bananas, other fresh produce and prepared food. The Firm sources its fresh produced products, such as bananas, pineapples, melons, tomatoes, grapes, apples, pears, peaches, plums, nectarines, cherries, citrus, avocados, blueberries and kiwi from Central and South America, Africa, the Philippines, North America and Europe. The Firm sources its prepared food products from Africa, Europe and the Middle East. It distributes its products in North America, Europe, Asia, the Middle East, Africa and South America. The Firm markets its products across the world under the DEL MONTE brand. It also sells produce under various other brands, including UTC, Rosy, Fruit Express, Just Juice, Fruitini and other regional brands.
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