Fresh Del Monte Produce (NYSE:FDP) SVP Sells $261,073.62 in Stock

Fresh Del Monte Produce, Inc. (NYSE:FDP) SVP Gianpaolo Renino sold 6,297 shares of the company’s stock in a transaction dated Friday, March 6th. The shares were sold at an average price of $41.46, for a total transaction of $261,073.62. Following the completion of the sale, the senior vice president directly owned 3,198 shares of the company’s stock, valued at $132,589.08. This represents a 66.32% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link.

Fresh Del Monte Produce Trading Down 0.7%

FDP stock traded down $0.30 during trading on Tuesday, reaching $41.62. 259,429 shares of the stock were exchanged, compared to its average volume of 239,842. The company has a current ratio of 2.16, a quick ratio of 1.06 and a debt-to-equity ratio of 0.09. The firm has a market capitalization of $1.97 billion, a price-to-earnings ratio of 22.14 and a beta of 0.28. The business has a 50 day moving average price of $39.09 and a 200-day moving average price of $36.89. Fresh Del Monte Produce, Inc. has a 1 year low of $29.00 and a 1 year high of $43.58.

Fresh Del Monte Produce (NYSE:FDP) last posted its quarterly earnings results on Wednesday, February 18th. The company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.42. The business had revenue of $968.20 million during the quarter, compared to analysts’ expectations of $1.01 billion. Fresh Del Monte Produce had a net margin of 2.10% and a return on equity of 7.63%. The business’s revenue for the quarter was up .6% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.26 EPS.

Fresh Del Monte Produce Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 27th. Investors of record on Wednesday, March 4th will be given a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 2.9%. The ex-dividend date is Wednesday, March 4th. Fresh Del Monte Produce’s dividend payout ratio is presently 63.83%.

Hedge Funds Weigh In On Fresh Del Monte Produce

A number of hedge funds have recently made changes to their positions in FDP. EverSource Wealth Advisors LLC increased its holdings in Fresh Del Monte Produce by 390.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 962 shares of the company’s stock valued at $31,000 after purchasing an additional 766 shares during the last quarter. Larson Financial Group LLC lifted its stake in Fresh Del Monte Produce by 1,488.5% during the third quarter. Larson Financial Group LLC now owns 969 shares of the company’s stock worth $34,000 after purchasing an additional 908 shares in the last quarter. Geneos Wealth Management Inc. lifted its stake in Fresh Del Monte Produce by 238.1% during the second quarter. Geneos Wealth Management Inc. now owns 1,065 shares of the company’s stock worth $35,000 after purchasing an additional 750 shares in the last quarter. Leonteq Securities AG purchased a new position in shares of Fresh Del Monte Produce during the fourth quarter worth $39,000. Finally, Aster Capital Management DIFC Ltd purchased a new position in shares of Fresh Del Monte Produce during the fourth quarter worth $61,000. Hedge funds and other institutional investors own 64.83% of the company’s stock.

Analyst Ratings Changes

FDP has been the topic of a number of research analyst reports. Wall Street Zen upgraded Fresh Del Monte Produce from a “hold” rating to a “buy” rating in a research report on Saturday, February 21st. Weiss Ratings raised Fresh Del Monte Produce from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, February 23rd. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the company currently has an average rating of “Buy”.

Fresh Del Monte Produce Company Profile

Fresh Del Monte Produce Inc is a leading producer, marketer and distributor of fresh and fresh-cut fruits and vegetables worldwide. The company offers a wide range of products including bananas, pineapples, melons, grapes and avocados, along with value-added items such as fruit salads, vegetable trays and snack packs under the Del Monte® brand.

Founded in 1989 as a spin-off from Del Monte, Fresh Del Monte has developed a global supply chain that spans production farms, ripening facilities and packaging centers across Latin America, North America, Europe, Asia and Africa.