Key Points
- COO Mohammed Abbas sold 1,580 shares at an average price of $42.50 on March 3 for $67,150, reducing his ownership by 2.81% to 54,663 shares (worth about $2.32M).
- Fresh Del Monte beat EPS estimates with $0.70 earnings per share versus $0.28 expected, though revenue of $968.2M missed estimates; the stock trades around $42.32 with a market cap of $2.01B and a P/E of 22.53.
- The company declared a quarterly dividend of $0.30 (ex-dividend March 4, payable March 27), representing a $1.20 annualized payout and roughly a 2.8% yield with a payout ratio of 63.8%.
Fresh Del Monte Produce, Inc. (NYSE:FDP - Get Free Report) SVP Effie Silva sold 285 shares of the business's stock in a transaction that occurred on Tuesday, March 3rd. The shares were sold at an average price of $42.50, for a total value of $12,112.50. Following the sale, the senior vice president owned 11,133 shares of the company's stock, valued at approximately $473,152.50. This represents a 2.50% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Fresh Del Monte Produce Stock Down 0.2%
NYSE FDP traded down $0.09 during trading hours on Thursday, hitting $42.57. The company's stock had a trading volume of 98,100 shares, compared to its average volume of 235,647. The company has a market capitalization of $2.02 billion, a PE ratio of 22.64 and a beta of 0.28. The company has a current ratio of 2.16, a quick ratio of 1.06 and a debt-to-equity ratio of 0.09. Fresh Del Monte Produce, Inc. has a 52 week low of $29.00 and a 52 week high of $43.58. The company's 50-day simple moving average is $38.70 and its two-hundred day simple moving average is $36.75.
Fresh Del Monte Produce (NYSE:FDP - Get Free Report) last announced its earnings results on Wednesday, February 18th. The company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.28 by $0.42. Fresh Del Monte Produce had a net margin of 2.10% and a return on equity of 7.63%. The company had revenue of $968.20 million during the quarter, compared to the consensus estimate of $1.01 billion. During the same quarter in the prior year, the company posted $0.26 earnings per share. The firm's revenue for the quarter was up .6% on a year-over-year basis.
Fresh Del Monte Produce Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 27th. Investors of record on Wednesday, March 4th will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date is Wednesday, March 4th. Fresh Del Monte Produce's payout ratio is currently 63.83%.
Institutional Investors Weigh In On Fresh Del Monte Produce
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FDP. Wasatch Advisors LP grew its holdings in Fresh Del Monte Produce by 41.1% in the 3rd quarter. Wasatch Advisors LP now owns 1,915,156 shares of the company's stock worth $66,494,000 after acquiring an additional 557,638 shares during the last quarter. LSV Asset Management boosted its holdings in shares of Fresh Del Monte Produce by 0.6% during the fourth quarter. LSV Asset Management now owns 1,741,494 shares of the company's stock worth $62,049,000 after purchasing an additional 10,246 shares during the period. American Century Companies Inc. grew its stake in shares of Fresh Del Monte Produce by 9.5% in the third quarter. American Century Companies Inc. now owns 1,359,355 shares of the company's stock worth $47,197,000 after purchasing an additional 117,567 shares during the last quarter. State Street Corp increased its holdings in Fresh Del Monte Produce by 0.7% during the 4th quarter. State Street Corp now owns 1,336,786 shares of the company's stock valued at $47,630,000 after purchasing an additional 9,933 shares during the period. Finally, Invesco Ltd. raised its position in Fresh Del Monte Produce by 19.2% during the 3rd quarter. Invesco Ltd. now owns 931,653 shares of the company's stock valued at $32,347,000 after purchasing an additional 150,092 shares during the last quarter. 64.83% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
A number of research analysts recently weighed in on the stock. Wall Street Zen upgraded shares of Fresh Del Monte Produce from a "hold" rating to a "buy" rating in a research note on Saturday, February 21st. Weiss Ratings raised shares of Fresh Del Monte Produce from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Monday, February 23rd. One research analyst has rated the stock with a Buy rating, According to MarketBeat, Fresh Del Monte Produce currently has a consensus rating of "Buy".
Get Our Latest Stock Analysis on FDP
Fresh Del Monte Produce Company Profile
(
Get Free Report)
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.
See Also
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].
