Fresh Del Monte Produce Inc. (NYSE:FDP) SVP Sells $35,645.40 in Stock

Fresh Del Monte Produce Inc. (NYSE:FDP) SVP Marissa R. Tenazas sold 1,148 shares of Fresh Del Monte Produce stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $31.05, for a total value of $35,645.40. Following the completion of the transaction, the senior vice president now owns 3,573 shares of the company’s stock, valued at approximately $110,941.65. This trade represents a 24.32 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link.

Fresh Del Monte Produce Stock Performance

Shares of NYSE:FDP opened at $30.57 on Friday. The company has a current ratio of 2.09, a quick ratio of 1.04 and a debt-to-equity ratio of 0.14. Fresh Del Monte Produce Inc. has a 12 month low of $21.23 and a 12 month high of $35.27. The company has a market capitalization of $1.47 billion, a price-to-earnings ratio of 92.64 and a beta of 0.36. The firm’s 50-day moving average is $30.48 and its 200 day moving average is $31.32.

Fresh Del Monte Produce (NYSE:FDP) last released its earnings results on Monday, February 24th. The company reported $0.26 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 business had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $1.14 billion. During the same period in the prior year, the company posted $0.25 EPS. The company’s quarterly revenue was up .5% compared to the same quarter last year.

Fresh Del Monte Produce Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Monday, March 10th were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 3.93%. This is an increase from Fresh Del Monte Produce’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Monday, March 10th. Fresh Del Monte Produce’s dividend payout ratio (DPR) is 40.40%.

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

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Parvin Asset Management LLC purchased a new stake in Fresh Del Monte Produce in the 4th quarter valued at about $30,000. Sterling Capital Management LLC boosted its holdings in shares of Fresh Del Monte Produce by 795.0% in the fourth quarter. Sterling Capital Management LLC now owns 1,083 shares of the company’s stock valued at $36,000 after purchasing an additional 962 shares during the period. McIlrath & Eck LLC bought a new position in Fresh Del Monte Produce in the fourth quarter worth approximately $48,000. Sherman Asset Management Inc. purchased a new position in Fresh Del Monte Produce during the 4th quarter worth $54,000. Finally, State of Wyoming bought a new stake in Fresh Del Monte Produce during the 4th quarter valued at $54,000. Hedge funds and other institutional investors own 64.83% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com downgraded Fresh Del Monte Produce from a “buy” rating to a “hold” rating in a research report on Tuesday, March 25th.

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.