Fresh Del Monte Produce, Inc. (NYSE:FDP)
CAPS Rating:
The Company is engaged in the production, transportation, distribution, and marketing of fresh and fresh-cut produce together with prepared food products in Europe, the Middle East and Africa.
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Recs
Trading below book value, 35% insider ownership, thoughtful capital allocation (share repurchases in 2009/2010, institution of dividend), cost cutting, good position to ride trend toward healthier eating, top player with brand to sustain market share
Note: no share repurchases in past 3 quarters though
Approximately fairly priced at small premium to earnings power valuation. Not much gain to be foreseen unless the stock falls below $20-24.