Fresh Del Monte Produce Inc. (NYSE:FDP) SVP Sells $52,474.50 in Stock

Fresh Del Monte Produce Inc. (NYSE:FDP) SVP Ziad Nabulsi sold 1,725 shares of Fresh Del Monte Produce stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $30.42, for a total value of $52,474.50. Following the completion of the transaction, the senior vice president now owns 11,498 shares in the company, valued at approximately $349,769.16. This represents a 13.05 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Fresh Del Monte Produce Trading Up 1.8 %

Shares of FDP stock opened at $30.52 on Friday. The business has a 50-day moving average of $31.17 and a 200 day moving average of $31.09. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.09 and a quick ratio of 1.04. Fresh Del Monte Produce Inc. has a 1-year low of $21.23 and a 1-year high of $35.27. The stock has a market capitalization of $1.46 billion, a PE ratio of 92.47 and a beta of 0.33.

Fresh Del Monte Produce (NYSE:FDP) last released its quarterly earnings data on Monday, February 24th. The company reported $0.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.16). Fresh Del Monte Produce had a net margin of 0.36% and a return on equity of 5.91%. The firm had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $1.14 billion. During the same quarter in the previous year, the firm posted $0.25 EPS. Fresh Del Monte Produce’s revenue was up .5% compared to the same quarter last year.

Fresh Del Monte Produce Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Monday, March 10th will be paid a $0.30 dividend. This is a positive change from Fresh Del Monte Produce’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Monday, March 10th. This represents a $1.20 dividend on an annualized basis and a yield of 3.93%. Fresh Del Monte Produce’s dividend payout ratio (DPR) is presently 40.40%.

Fresh Del Monte Produce announced that its board has approved a stock buyback program on Monday, February 24th that authorizes the company to repurchase $150.00 million in shares. This repurchase authorization authorizes the company to purchase up to 10.4% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its stock is undervalued.

Institutional Investors Weigh In On Fresh Del Monte Produce

A number of large investors have recently modified their holdings of the stock. Public Employees Retirement System of Ohio bought a new position in Fresh Del Monte Produce in the fourth quarter worth about $350,000. McIlrath & Eck LLC bought a new position in shares of Fresh Del Monte Produce in the 4th quarter worth approximately $48,000. Teza Capital Management LLC lifted its stake in shares of Fresh Del Monte Produce by 99.6% in the 4th quarter. Teza Capital Management LLC now owns 16,989 shares of the company’s stock valued at $564,000 after purchasing an additional 8,476 shares during the period. State of Wyoming purchased a new stake in Fresh Del Monte Produce in the fourth quarter worth $54,000. Finally, ProShare Advisors LLC increased its stake in shares of Fresh Del Monte Produce by 44.5% in the 4th quarter. ProShare Advisors LLC now owns 10,182 shares of the company’s stock worth $338,000 after acquiring an additional 3,135 shares in the last quarter. Institutional investors own 64.83% of the company’s stock.

Fresh Del Monte Produce Company Profile

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.