Fresh Del Monte Produce Inc (FDP) was Reiterated by Wunderlich to “Buy” according to the research note released today. The brokerage firm has raised the Price Target to $ 50 from a previous price target of $45 . Wunderlich advised their investors in a research report released on May 4, 2016.
On the company’s financial health, Fresh Del Monte Produce Inc reported $1.57 EPS for the quarter, beating the analyst consensus estimate by $ 0.73 according to the earnings call on May 3, 2016. Analyst had a consensus of $0.84. The company had revenue of $1018.10 million for the quarter, compared to analysts expectations of $1045.20 million. The company’s revenue was up 1.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.83 EPS.
Fresh Del Monte Produce Inc opened for trading at $43.57 and hit $44.2 on the upside on Monday, eventually ending the session at $43.92, with a gain of 1.53% or 0.66 points. The heightened volatility saw the trading volume jump to 2,62,465 shares. Company has a market cap of $2,257 M.
In a different news, on Mar 17, 2016, Madeleine L Champion (director) sold 1,000 shares at $42.20 per share price. According to the SEC, on Mar 2, 2016, Edward L Boykin (director) sold 1,639 shares at $41.00 per share price. On Feb 29, 2016, Michael J Berthelot (director) sold 1,639 shares at $40.00 per share price, according to the Form-4 filing with the securities and exchange commission.
Fresh Del Monte Produce Inc. is an exempted holding company. Through its subsidiaries the Company is engaged in sourcing transportation and marketing fresh and fresh-cut fruit and vegetables together with prepared food products in Europe Africa and the Middle East. Its operations are aggregated into business segments on the basis of its products: bananas other fresh produce and prepared food. Other fresh produce includes pineapples melons non-tropical fruit fresh-cut products other fruit and vegetables a third-party ocean freight business and a plastic product and box manufacturing business. Prepared food includes prepared fruit and vegetables juices beverages snacks poultry and meat products. It sources its fresh produced products from Central and South America Africa the Philippines North America and Europe. The Company sources its prepared food products from Africa Europe and the Middle East. It markets its products across the world under the DEL MONTE brand.