Short Interest in Fresh Del Monte Produce Inc. (NYSE:FDP) Expands By 152.1%

Fresh Del Monte Produce Inc. (NYSE:FDP) saw a significant increase in short interest in January. As of January 15th, there was short interest totalling 647,500 shares, an increase of 152.1% from the December 31st total of 256,800 shares. Currently, 1.6% of the shares of the company are sold short. Based on an average daily volume of 288,200 shares, the days-to-cover ratio is presently 2.2 days.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. HHM Wealth Advisors LLC grew its stake in Fresh Del Monte Produce by 75.0% in the fourth quarter. HHM Wealth Advisors LLC now owns 1,750 shares of the company’s stock worth $58,000 after purchasing an additional 750 shares during the period. KBC Group NV increased its stake in Fresh Del Monte Produce by 65.0% during the 4th quarter. KBC Group NV now owns 2,550 shares of the company’s stock valued at $85,000 after purchasing an additional 1,005 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of Fresh Del Monte Produce by 125.9% during the third quarter. GAMMA Investing LLC now owns 3,624 shares of the company’s stock valued at $107,000 after purchasing an additional 2,020 shares in the last quarter. nVerses Capital LLC lifted its stake in Fresh Del Monte Produce by 200.0% during the 3rd quarter. nVerses Capital LLC now owns 3,900 shares of the company’s stock valued at $115,000 after acquiring an additional 2,600 shares during the period. Finally, Point72 DIFC Ltd purchased a new stake in shares of Fresh Del Monte Produce during the 2nd quarter valued at about $91,000. 64.83% of the stock is owned by hedge funds and other institutional investors.

Fresh Del Monte Produce Price Performance

NYSE:FDP traded down $0.11 during trading hours on Wednesday, hitting $31.43. 155,985 shares of the company’s stock traded hands, compared to its average volume of 239,555. The business’s fifty day simple moving average is $32.86 and its two-hundred day simple moving average is $30.16. Fresh Del Monte Produce has a 52 week low of $21.23 and a 52 week high of $35.27. The firm has a market cap of $1.51 billion, a P/E ratio of 95.25 and a beta of 0.41. The company has a quick ratio of 1.04, a current ratio of 2.09 and a debt-to-equity ratio of 0.14.

Fresh Del Monte Produce (NYSE:FDP) last released its earnings results on Thursday, October 31st. The company reported $0.77 EPS for the quarter, beating the consensus estimate of $0.47 by $0.30. The company had revenue of $1.02 billion for the quarter, compared to analyst estimates of $989.45 million. Fresh Del Monte Produce had a net margin of 0.36% and a return on equity of 5.91%. The firm’s quarterly revenue was up 1.6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.35 EPS.

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, Central America, South America, Europe, the Middle East, Africa, Asia, and internationally. It operates through three segments: Fresh and Value-Added Products, Banana, and Other Products and Services.