The stock of Fresh Del Monte Produce Inc (NYSE:FDP) hit a new 52-week high and has $102.40 target or 56.00% above today’s $65.64 share price. The 8 months bullish chart indicates low risk for the $3.48 billion company. The 1-year high was reported on Nov, 21 by Barchart.com. If the $102.40 price target is reached, the company will be worth $1.95 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 40,935 shares traded hands. Fresh Del Monte Produce Inc (NYSE:FDP) has risen 54.28% since April 19, 2016 and is uptrending. It has outperformed by 50.42% the S&P500.
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 4 analyst reports since January 5, 2016 according to StockzIntelligence Inc. Wunderlich maintained Fresh Del Monte Produce Inc (NYSE:FDP) on Wednesday, May 11 with “Buy” rating. The stock of Fresh Del Monte Produce Inc (NYSE:FDP) earned “Buy” rating by Wunderlich on Wednesday, November 2. The rating was initiated by Wunderlich on Tuesday, January 5 with “Buy”. The firm has “Neutral” rating given on Thursday, May 12 by Sidoti.
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 1.52 in Q2 2016. Its up 0.10, from 1.42 in 2016Q1. The ratio improved, 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.
Deutsche Bankshares Ag accumulated 0.01% or 170,851 shares. Tiaa Cref Inv Mgmt Ltd Limited Liability Company accumulated 198,830 shares or 0.01% of the stock. Bogle Invest Management L P De reported 141,410 shares or 0.53% of all its holdings. Gsa Ltd Liability Partnership holds 0.04% of its portfolio in Fresh Del Monte Produce Inc (NYSE:FDP) for 14,381 shares. Prudential Fin Inc reported 269,540 shares or 0.02% of all its holdings. Metropolitan Life owns 23,089 shares or 0.01% of their US portfolio. Citigroup owns 31,012 shares or 0% of their US portfolio. The Minnesota-based Pine River Ltd Partnership has invested 0.01% in Fresh Del Monte Produce Inc (NYSE:FDP). Regentatlantic Capital Lc owns 4,635 shares or 0.02% of their US portfolio. Geode Cap Mgmt Ltd Liability owns 291,823 shares or 0.01% of their US portfolio. First Trust Advsrs Limited Partnership accumulated 0% or 23,884 shares. Credit Suisse Ag last reported 37,788 shares in the company. Daiwa Securities Group Incorporated last reported 11,500 shares in the company. Blackrock Advisors Ltd Company accumulated 24,937 shares or 0% of the stock. Renaissance Technology Ltd holds 247,800 shares or 0.03% of its portfolio.
Insider Transactions: Since June 2, 2016, the stock had 0 buys, and 42 selling transactions for $24.22 million net activity. $397,500 worth of shares were sold by Mancilla Sergio on Friday, August 5. CONTRERAS RICHARD sold $805,127 worth of stock. $1.43 million worth of Fresh Del Monte Produce Inc (NYSE:FDP) was sold by ABU-GHAZALEH MOHAMMAD. 6,426 shares were sold by Rivera Hector, worth $382,090 on Thursday, August 18. ABU GHAZALEH AMIR had sold 20,142 shares worth $1.26 million. On Thursday, August 4 RICE PAUL sold $856,830 worth of the stock or 14,258 shares. Tenazas Marissa R had sold 1,075 shares worth $60,802.
More important recent Fresh Del Monte Produce Inc (NYSE:FDP) news were published by: Forbes.com which released: “Ex-Dividend Reminder: Fresh Del Monte Produce, Autoliv and Archer Daniels Midland” on November 10, 2016, also Businesswire.com published article titled: “Fresh Del Monte Produce Inc. Reports Third Quarter 2016 Financial Results”, Fool.com published: “Why Fresh Del Monte Produce Inc.’s Shares Spiked 21% in May” on June 02, 2016. More interesting news about Fresh Del Monte Produce Inc (NYSE:FDP) was released by: Nasdaq.com and their article: “Fresh Del Monte Produce, Inc. (FDP) Ex-Dividend Date Scheduled for November 14 …” with publication date: November 11, 2016.
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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