Key Points
- Insider sale: SVP Effie Silva sold 5,894 shares on March 9 at an average price of $41.94 for about $247,194, reducing her holding to 8,536 shares (a 40.85% decrease); the transaction was disclosed in an SEC filing.
- Quarterly results: Fresh Del Monte reported EPS of $0.70 versus $0.28 expected (beating estimates) while revenue was $968.2M vs. $1.01B expected, with a net margin of 2.10%.
- Dividend announced: The company declared a $0.30 quarterly dividend (annualized $1.20) payable March 27, with an ex-dividend date/record date of March 4, implying a yield of about 2.9% and a payout ratio near 63.8%.
Fresh Del Monte Produce, Inc. (NYSE:FDP - Get Free Report) SVP Effie Silva sold 5,894 shares of the company's stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $41.94, for a total value of $247,194.36. Following the completion of the sale, the senior vice president directly owned 8,536 shares in the company, valued at approximately $357,999.84. The trade was a 40.85% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.
Fresh Del Monte Produce Price Performance
Fresh Del Monte Produce stock traded down $0.15 during mid-day trading on Thursday, hitting $41.02. 7,595 shares of the company were exchanged, compared to its average volume of 233,928. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.16 and a quick ratio of 1.06. The business's 50 day simple moving average is $39.32 and its two-hundred day simple moving average is $36.95. The company has a market capitalization of $1.94 billion, a P/E ratio of 21.85 and a beta of 0.28. Fresh Del Monte Produce, Inc. has a 12-month low of $29.00 and a 12-month high of $43.58.
Fresh Del Monte Produce (NYSE:FDP - Get Free Report) last released its quarterly earnings results on Wednesday, February 18th. The company reported $0.70 earnings per share for the quarter, topping analysts' consensus estimates of $0.28 by $0.42. The company had revenue of $968.20 million during the quarter, compared to analysts' expectations of $1.01 billion. Fresh Del Monte Produce had a return on equity of 7.63% and a net margin of 2.10%.The business's revenue for the quarter was up .6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.26 earnings per share.
Fresh Del Monte Produce Dividend Announcement
The company also recently announced 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. The ex-dividend date of this dividend is Wednesday, March 4th. This represents a $1.20 annualized dividend and a yield of 2.9%. Fresh Del Monte Produce's payout ratio is presently 63.83%.
Institutional Trading of Fresh Del Monte Produce
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Geneos Wealth Management Inc. lifted its stake in shares of Fresh Del Monte Produce by 26.1% in the fourth quarter. Geneos Wealth Management Inc. now owns 1,450 shares of the company's stock worth $52,000 after acquiring an additional 300 shares in the last quarter. State of Alaska Department of Revenue grew its stake in Fresh Del Monte Produce by 1.6% during the 4th quarter. State of Alaska Department of Revenue now owns 18,832 shares of the company's stock valued at $670,000 after purchasing an additional 302 shares in the last quarter. HighTower Advisors LLC grew its stake in Fresh Del Monte Produce by 5.2% during the 4th quarter. HighTower Advisors LLC now owns 9,982 shares of the company's stock valued at $356,000 after purchasing an additional 489 shares in the last quarter. Outfitters Financial LLC increased its holdings in Fresh Del Monte Produce by 1.5% during the 4th quarter. Outfitters Financial LLC now owns 33,145 shares of the company's stock worth $1,181,000 after purchasing an additional 500 shares during the last quarter. Finally, Russell Investments Group Ltd. increased its holdings in Fresh Del Monte Produce by 0.7% during the 4th quarter. Russell Investments Group Ltd. now owns 71,447 shares of the company's stock worth $2,546,000 after purchasing an additional 514 shares during the last quarter. Institutional investors and hedge funds own 64.83% of the company's stock.
Analyst Upgrades and Downgrades
Several equities research analysts have issued reports on the stock. 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. Wall Street Zen raised shares of Fresh Del Monte Produce from a "hold" rating to a "buy" rating in a research report on Saturday, February 21st. One research analyst has rated the stock with a Buy rating, According to MarketBeat, the stock has a consensus rating of "Buy".
Read Our Latest Stock Report 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.
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