Key Points
- SVP Gianpaolo Renino sold 6,297 shares of Fresh Del Monte at an average price of $41.46 on March 6, reducing his direct stake by 66.32% to 3,198 shares (valued at $132,589).
- Q4 results showed an EPS beat—$0.70 vs. $0.28 expected—while revenue of $968.2M missed estimates of $1.01B and the company reported a 2.1% net margin.
- Fresh Del Monte declared a $0.30 quarterly dividend (ex-dividend March 4, payable March 27), implying a $1.20 annual payout and a ~2.9% yield; the stock has a market cap of about $1.97B and a 52-week range of $29.00–$43.58.
Fresh Del Monte Produce, Inc. (NYSE:FDP - Get Free Report) SVP Gianpaolo Renino sold 6,297 shares of the stock in a transaction dated Friday, March 6th. The shares were sold at an average price of $41.46, for a total value of $261,073.62. Following the completion of the sale, the senior vice president directly owned 3,198 shares in the company, valued at $132,589.08. This represents a 66.32% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.
Fresh Del Monte Produce Stock Down 0.7%
Shares of NYSE:FDP opened at $41.62 on Wednesday. The company has a quick ratio of 1.06, a current ratio of 2.16 and a debt-to-equity ratio of 0.09. Fresh Del Monte Produce, Inc. has a fifty-two week low of $29.00 and a fifty-two week high of $43.58. The stock has a market cap of $1.97 billion, a price-to-earnings ratio of 22.14 and a beta of 0.28. The firm's 50 day moving average price is $39.21 and its 200 day moving average price is $36.92.
Fresh Del Monte Produce (NYSE:FDP - Get Free Report) last announced its quarterly earnings data on Wednesday, February 18th. The company reported $0.70 earnings per share for the quarter, beating analysts' consensus estimates of $0.28 by $0.42. The business had revenue of $968.20 million for the quarter, compared to analyst estimates of $1.01 billion. Fresh Del Monte Produce had a net margin of 2.10% and a return on equity of 7.63%. The company's revenue was up .6% on a year-over-year basis. During the same period last year, the business earned $0.26 EPS.
Fresh Del Monte Produce Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, March 27th. Shareholders of record on Wednesday, March 4th will be paid a $0.30 dividend. The ex-dividend date is Wednesday, March 4th. This represents a $1.20 dividend on an annualized basis and a yield of 2.9%. Fresh Del Monte Produce's dividend payout ratio (DPR) is currently 63.83%.
Institutional Inflows and Outflows
A number of institutional investors have recently bought and sold shares of FDP. EverSource Wealth Advisors LLC raised its holdings in shares of Fresh Del Monte Produce by 390.8% in the second quarter. EverSource Wealth Advisors LLC now owns 962 shares of the company's stock valued at $31,000 after buying an additional 766 shares during the last quarter. Larson Financial Group LLC raised its stake in shares of Fresh Del Monte Produce by 1,488.5% during the 3rd quarter. Larson Financial Group LLC now owns 969 shares of the company's stock worth $34,000 after buying an additional 908 shares in the last quarter. Geneos Wealth Management Inc. boosted its stake in shares of Fresh Del Monte Produce by 238.1% in the second quarter. Geneos Wealth Management Inc. now owns 1,065 shares of the company's stock valued at $35,000 after buying an additional 750 shares in the last quarter. Leonteq Securities AG acquired a new position in Fresh Del Monte Produce during the fourth quarter worth $39,000. Finally, Aster Capital Management DIFC Ltd acquired a new stake in Fresh Del Monte Produce in the fourth quarter valued at $61,000. 64.83% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of research firms have recently commented on FDP. Wall Street Zen upgraded Fresh Del Monte Produce from a "hold" rating to a "buy" rating in a report on Saturday, February 21st. Weiss Ratings raised Fresh Del Monte Produce from a "hold (c+)" rating to a "buy (b-)" rating in a report on Monday, February 23rd. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the company has an average rating of "Buy".
Get Our Latest Research Report on Fresh Del Monte Produce
About Fresh Del Monte Produce
(
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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.
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