Fresh Del Monte Produce Inc. (NYSE:FDP) CFO Monica Vicente Sells 2,532 Shares

Fresh Del Monte Produce Inc. (NYSE:FDP) CFO Monica Vicente sold 2,532 shares of Fresh Del Monte Produce stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $30.42, for a total value of $77,023.44. Following the completion of the sale, the chief financial officer now directly owns 10,808 shares in the company, valued at approximately $328,779.36. This represents a 18.98 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Fresh Del Monte Produce Price Performance

NYSE:FDP opened at $30.02 on Thursday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.04 and a current ratio of 2.09. The stock’s 50-day simple moving average is $31.24 and its 200 day simple moving average is $31.09. The company has a market cap of $1.44 billion, a P/E ratio of 90.96 and a beta of 0.33. Fresh Del Monte Produce Inc. has a 52-week low of $21.23 and a 52-week high of $35.27.

Fresh Del Monte Produce (NYSE:FDP) last released its earnings results 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). The company had revenue of $1.01 billion during the quarter, compared to analyst estimates of $1.14 billion. Fresh Del Monte Produce had a net margin of 0.36% and a return on equity of 5.91%. Fresh Del Monte Produce’s revenue was up .5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.25 EPS.

Fresh Del Monte Produce Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Monday, March 10th will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 4.00%. The ex-dividend date of this dividend is Monday, March 10th. This is an increase from Fresh Del Monte Produce’s previous quarterly dividend of $0.25. Fresh Del Monte Produce’s payout ratio is 40.40%.

Fresh Del Monte Produce declared that its Board of Directors has authorized a share repurchase program on Monday, February 24th that allows the company to buyback $150.00 million in outstanding shares. This buyback authorization allows the company to reacquire up to 10.4% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Hedge Funds Weigh In On Fresh Del Monte Produce

Institutional investors have recently bought and sold shares of the business. Parvin Asset Management LLC acquired a new position in Fresh Del Monte Produce during the fourth quarter worth approximately $30,000. Sterling Capital Management LLC increased its position in Fresh Del Monte Produce by 795.0% during the fourth quarter. Sterling Capital Management LLC now owns 1,083 shares of the company’s stock worth $36,000 after buying an additional 962 shares during the last quarter. McIlrath & Eck LLC acquired a new position in Fresh Del Monte Produce during the fourth quarter worth approximately $48,000. State of Wyoming acquired a new position in Fresh Del Monte Produce during the fourth quarter worth approximately $54,000. Finally, Sherman Asset Management Inc. acquired a new position in Fresh Del Monte Produce during the fourth quarter worth approximately $54,000. Institutional investors and hedge funds 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.