Insider Selling: Fresh Del Monte Produce Inc. (NYSE:FDP) SVP Sells 1,148 Shares of Stock

Fresh Del Monte Produce Inc. (NYSE:FDP) SVP Marissa R. Tenazas sold 1,148 shares of the stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $31.05, for a total transaction of $35,645.40. Following the transaction, the senior vice president now owns 3,573 shares in the company, valued at $110,941.65. The trade was a 24.32 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Fresh Del Monte Produce Stock Down 2.6 %

FDP opened at $30.57 on Friday. 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 current ratio of 2.09, a quick ratio of 1.04 and a debt-to-equity ratio of 0.14. The business’s 50-day moving average price is $30.48 and its 200-day moving average price is $31.30. The company has a market cap of $1.47 billion, a P/E ratio of 92.64 and a beta of 0.36.

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

Fresh Del Monte Produce Increases Dividend

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

Fresh Del Monte Produce declared that its Board of Directors has approved a stock repurchase plan on Monday, February 24th that permits the company to buyback $150.00 million in shares. This buyback authorization permits the company to purchase up to 10.4% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its stock is undervalued.

Institutional Trading of Fresh Del Monte Produce

Institutional investors have recently modified their holdings of the company. Parvin Asset Management LLC bought a new position in Fresh Del Monte Produce during the 4th quarter valued at approximately $30,000. Sterling Capital Management LLC raised its holdings in shares of 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 valued at $36,000 after acquiring an additional 962 shares in the last quarter. McIlrath & Eck LLC purchased a new stake in Fresh Del Monte Produce in the fourth quarter worth $48,000. State of Wyoming bought a new stake in Fresh Del Monte Produce in the fourth quarter valued at $54,000. Finally, Sherman Asset Management Inc. bought a new position in Fresh Del Monte Produce in the 4th quarter worth $54,000. 64.83% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

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.