The stock of Fresh Del Monte Produce Inc (NYSE:FDP) reached all time high today, Oct, 13 and still has $96.96 target or 57.00% above today’s $61.76 share price. This indicates more upside for the $3.19B company. This technical setup was reported by Barchart.com. If the $96.96 PT is reached, the company will be worth $1.82 billion more.
Trading stocks at an all time highs is usually a winning strategy. An all time high points to a stock which has the most positive fundamentals ever. Even thought the pullback rate is high, if correct risk management is utilized, investors can trade very well such events. About 287,985 shares traded hands or 47.32% up from the average. 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 EPS, 0.00% or $0.00 from last year’s $0.54 per share. FDP’s profit will be $27.89 million for 28.59 P/E if the $0.54 EPS becomes a reality. After $1.75 actual EPS 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. Fresh Del Monte has been the topic of 3 analyst reports since January 5, 2016 according to StockzIntelligence Inc. The firm has “Buy” rating given on Wednesday, May 11 by Wunderlich. The stock of Fresh Del Monte Produce Inc (NYSE:FDP) has “Neutral” rating given on Thursday, May 12 by Sidoti. The firm has “Buy” rating by Wunderlich given 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 is positive, 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.
Kbc Nv reported 46,122 shares or 0.04% of all its holdings. Moreover, Cibc Ww Markets has 0% invested in Fresh Del Monte Produce Inc (NYSE:FDP) for 20,196 shares. Barclays Public Ltd Company holds 0% or 2,410 shares in its portfolio. Royal Comml Bank Of Canada accumulated 14,643 shares or 0% of the stock. Hanseatic Management Svcs Inc accumulated 0.02% or 788 shares. Neuberger Berman Grp Ltd Liability Co holds 12,130 shares or 0% of its portfolio. Springbok Capital Ltd Liability Com, a New York-based fund reported 100 shares. Eam Invsts Limited Liability accumulated 47,748 shares or 0.39% of the stock. Glenmede Trust Na, a Pennsylvania-based fund reported 117 shares. Bogle Investment Ltd Partnership De, a Massachusetts-based fund reported 141,410 shares. Hutchin Hill Cap L P accumulated 28,500 shares or 0.05% of the stock. The Ontario – Canada-based Hillsdale Invest has invested 0.12% in Fresh Del Monte Produce Inc (NYSE:FDP). Tradewinds Global Investors Ltd Limited Liability Company has 38,387 shares for 0.14% of their US portfolio. Bridgeway Capital Management has 0.01% invested in the company for 9,850 shares. Baker Ellis Asset Mngmt Ltd Liability Co last reported 68,251 shares in the company.
Insider Transactions: Since May 5, 2016, the stock had 0 insider buys, and 39 insider sales for $18.80 million net activity. The insider LAZOPOULOS EMANUEL sold $356,585. $61,284 worth of Fresh Del Monte Produce Inc (NYSE:FDP) shares were sold by JORDAN BRUCE ALAN. YOCK JOSE ANTONIO sold $1.09 million worth of stock. Another trade for 18,036 shares valued at $1.08M was sold by ABU-GHAZALEH MOHAMMAD. On Friday, August 5 Mancilla Sergio sold $397,500 worth of the stock or 6,625 shares. EL-NAFFY HANI sold 4,231 shares worth $239,094. BERTHELOT MICHAEL J sold $310,313 worth of Fresh Del Monte Produce Inc (NYSE:FDP) on Tuesday, May 10.
More 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 the news titled: “Fresh Del Monte Produce Inc. Reports Second Quarter 2016 Financial Results” on August 02, 2016. Businesswire.com‘s news article titled: “Fresh Del Monte Produce Inc. Announces Fourth Quarter and Full Year 2015 …” with publication date: February 23, 2016 was also an interesting one.
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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