The stock of Fresh Del Monte Produce Inc (NYSE:FDP) hit a new 52-week high and has $81.11 target or 26.00% above today’s $64.37 share price. The 7 months bullish chart indicates low risk for the $3.31B company. The 1-year high was reported on Nov, 1 by Barchart.com. If the $81.11 price target is reached, the company will be worth $860.60 million 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 210,015 shares traded hands or 20.40% up from the average. Fresh Del Monte Produce Inc (NYSE:FDP) has risen 42.10% since March 30, 2016 and is uptrending. It has outperformed by 39.09% 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. $60 is the highest target while $45.0 is the lowest. The $60 average target is -6.79% below today’s ($64.37) stock price. Fresh Del Monte has been the topic of 3 analyst reports since January 5, 2016 according to StockzIntelligence Inc. Wunderlich maintained it with “Buy” rating and $60 target price in Wednesday, May 11 report. The stock has “Buy” rating given by Wunderlich on Tuesday, January 5. The rating was initiated by Sidoti with “Neutral” on Thursday, May 12.
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 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.
Numeric Ltd Liability Corp reported 480,135 shares or 0.23% of all its holdings. Kbc Gru Nv owns 46,122 shares or 0.04% of their US portfolio. The Texas-based Dimensional Fund Advsr Ltd Partnership has invested 0.14% in Fresh Del Monte Produce Inc (NYSE:FDP). Ladenburg Thalmann Fincl holds 238 shares or 0% of its portfolio. Hillsdale Invest Inc has 0.12% invested in the company for 7,800 shares. Teacher Retirement Systems Of Texas owns 4,750 shares or 0% of their US portfolio. Jefferies Ltd Limited Liability Company has 0% invested in the company for 7,352 shares. Ajo L P accumulated 5,884 shares or 0% of the stock. Moreover, Chicago Equity Prtn Limited Liability has 0.09% invested in Fresh Del Monte Produce Inc (NYSE:FDP) for 55,995 shares. Amalgamated Comml Bank last reported 3,524 shares in the company. Moreover, Zacks Invest has 0.01% invested in Fresh Del Monte Produce Inc (NYSE:FDP) for 5,964 shares. Gsa Cap Prns Limited Liability Partnership has 0.04% invested in the company for 14,381 shares. Letko Brosseau & Associates accumulated 1.44 million shares or 0.75% of the stock. Blackrock Inc owns 149,528 shares or 0.01% of their US portfolio. Tower Research Cap Ltd (Trc) holds 1,656 shares or 0.01% of its portfolio.
Insider Transactions: Since May 5, 2016, the stock had 0 insider buys, and 38 selling transactions for $16.21 million net activity. The insider ABU-GHAZALEH MOHAMMAD sold $93,602. Another trade for 10,000 shares valued at $604,400 was sold by LAZOPOULOS EMANUEL. 18,556 shares were sold by Tenazas Marissa R, worth $1.12 million on Thursday, August 4. CONTRERAS RICHARD also sold $30,854 worth of Fresh Del Monte Produce Inc (NYSE:FDP) on Tuesday, August 2. Shares for $513,800 were sold by ABU GHAZALEH AMIR. The insider JORDAN BRUCE ALAN sold 1,084 shares worth $61,284. Another trade for 6,625 shares valued at $397,500 was sold by Mancilla Sergio.
More notable recent Fresh Del Monte Produce Inc (NYSE:FDP) news were published by: Businesswire.com which released: “Fresh Del Monte Produce Inc. Reports Third Quarter 2016 Financial Results” on November 01, 2016, also Fool.com with their article: “Why Fresh Del Monte Produce Inc.’s Shares Spiked 21% in May” published on June 02, 2016, Businesswire.com published: “Fresh Del Monte Produce Inc. Reports Third Quarter 2015 Financial Results” on October 27, 2015. More interesting news about Fresh Del Monte Produce Inc (NYSE:FDP) were released by: Businesswire.com and their article: “Fresh Del Monte Produce Inc. Announces Fourth Quarter and Full Year 2015 …” published on February 23, 2016 as well as Businesswire.com‘s news article titled: “Fresh Del Monte Produce Inc. Reports Second Quarter 2016 Financial Results” with publication date: August 02, 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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