Key Points
- SVP Effie Silva sold 1,325 shares at an average of $36.79 for about $48,747, trimming her stake by 17.96% to 6,052 shares (≈$222,653) per the SEC filing.
- The company beat EPS expectations with $0.69 EPS vs. a $0.50 consensus but reported revenue of $1.02B, slightly below the $1.04B estimate, and a net margin of 1.84%.
- Fresh Del Monte declared a quarterly dividend of $0.30 (annualized $1.20), implying a 3.3% yield; the ex-dividend date is Nov. 12 and payment is scheduled for Dec. 5.
Fresh Del Monte Produce, Inc. (NYSE:FDP - Get Free Report) SVP Effie Silva sold 1,325 shares of the stock in a transaction that occurred on Friday, November 7th. The shares were sold at an average price of $36.79, for a total value of $48,746.75. Following the completion of the sale, the senior vice president directly owned 6,052 shares of the company's stock, valued at approximately $222,653.08. This represents a 17.96% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.
Fresh Del Monte Produce Trading Down 1.0%
NYSE:FDP traded down $0.36 during trading hours on Thursday, hitting $36.37. The company had a trading volume of 16,282 shares, compared to its average volume of 360,454. The company has a current ratio of 2.09, a quick ratio of 1.11 and a debt-to-equity ratio of 0.09. The company has a 50-day moving average of $35.09 and a 200 day moving average of $34.63. The company has a market cap of $1.74 billion, a P/E ratio of 22.35 and a beta of 0.39. Fresh Del Monte Produce, Inc. has a 1 year low of $26.50 and a 1 year high of $40.75.
Fresh Del Monte Produce (NYSE:FDP - Get Free Report) last posted its quarterly earnings results on Wednesday, October 29th. The company reported $0.69 EPS for the quarter, topping the consensus estimate of $0.50 by $0.19. Fresh Del Monte Produce had a return on equity of 6.63% and a net margin of 1.84%.The business had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.04 billion. During the same quarter in the previous year, the firm earned $0.77 EPS. The company's quarterly revenue was up .2% compared to the same quarter last year.
Fresh Del Monte Produce Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, December 5th. Stockholders of record on Wednesday, November 12th will be paid a $0.30 dividend. The ex-dividend date of this dividend is Wednesday, November 12th. This represents a $1.20 annualized dividend and a dividend yield of 3.3%. Fresh Del Monte Produce's dividend payout ratio is 73.62%.
Analyst Upgrades and Downgrades
A number of analysts have recently issued reports on FDP shares. Wall Street Zen downgraded shares of Fresh Del Monte Produce from a "buy" rating to a "hold" rating in a report on Saturday, November 1st. Weiss Ratings lowered Fresh Del Monte Produce from a "buy (b)" rating to a "hold (c+)" rating in a research report on Friday, November 7th. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the stock presently has an average rating of "Hold".
Get Our Latest Report on FDP
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently made changes to their positions in the business. SummerHaven Investment Management LLC grew its holdings in shares of Fresh Del Monte Produce by 1.2% during the second quarter. SummerHaven Investment Management LLC now owns 36,419 shares of the company's stock worth $1,181,000 after purchasing an additional 415 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of Fresh Del Monte Produce by 5.9% in the third quarter. GAMMA Investing LLC now owns 9,619 shares of the company's stock valued at $334,000 after buying an additional 538 shares during the last quarter. Arizona State Retirement System boosted its stake in shares of Fresh Del Monte Produce by 5.0% during the first quarter. Arizona State Retirement System now owns 11,688 shares of the company's stock worth $360,000 after buying an additional 558 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in shares of Fresh Del Monte Produce by 7.3% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 8,614 shares of the company's stock worth $279,000 after buying an additional 583 shares during the last quarter. Finally, CWA Asset Management Group LLC grew its position in Fresh Del Monte Produce by 1.5% in the 3rd quarter. CWA Asset Management Group LLC now owns 39,397 shares of the company's stock valued at $1,368,000 after buying an additional 597 shares during the last quarter. 64.83% of the stock is owned by institutional investors and hedge funds.
About Fresh Del Monte Produce
(
Get Free Report)
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.
Recommended Stories
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
