Key Points
- Marissa Tenazas, SVP of Fresh Del Monte Produce, sold 1,046 shares on April 2 at an average price of $40.40 for $42,258.40, cutting her stake to 8,050 shares (an 11.5% decrease) per an SEC filing.
- Fresh Del Monte's quarter ended Feb. 19 showed an EPS of $0.70, beating the $0.28 estimate, while revenue of $968.2M missed the roughly $1.01B consensus and net margin was 2.1%.
- The company paid a quarterly dividend of $0.30 (annualized $1.20), 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 Marissa Tenazas sold 1,046 shares of the firm's stock in a transaction dated Thursday, April 2nd. The shares were sold at an average price of $40.40, for a total transaction of $42,258.40. Following the completion of the transaction, the senior vice president directly owned 8,050 shares in the company, valued at $325,220. This represents a 11.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link.
Fresh Del Monte Produce Trading Down 0.1%
FDP stock opened at $41.23 on Friday. Fresh Del Monte Produce, Inc. has a 12-month low of $29.03 and a 12-month high of $43.58. The business's 50-day moving average is $40.94 and its 200 day moving average is $37.58. The company has a current ratio of 2.16, a quick ratio of 1.06 and a debt-to-equity ratio of 0.09. The stock has a market cap of $1.95 billion, a price-to-earnings ratio of 21.93 and a beta of 0.28.
Fresh Del Monte Produce (NYSE:FDP - Get Free Report) last announced its earnings results on Thursday, February 19th. The company reported $0.70 EPS for the quarter, beating analysts' consensus estimates of $0.28 by $0.42. The business 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 was up .6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.26 earnings per share.
Fresh Del Monte Produce Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Friday, March 27th. Investors of record on Wednesday, March 4th were paid a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend was Wednesday, March 4th. Fresh Del Monte Produce's dividend payout ratio is currently 63.83%.
Hedge Funds Weigh In On Fresh Del Monte Produce
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Fresh Del Monte Produce by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,090 shares of the company's stock valued at $619,000 after buying an additional 879 shares in the last quarter. Millennium Management LLC raised its holdings in shares of Fresh Del Monte Produce by 1,647.2% during the 1st quarter. Millennium Management LLC now owns 596,496 shares of the company's stock worth $18,390,000 after acquiring an additional 562,356 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Fresh Del Monte Produce by 10.7% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 94,910 shares of the company's stock valued at $2,926,000 after acquiring an additional 9,202 shares during the last quarter. Jane Street Group LLC grew its holdings in shares of Fresh Del Monte Produce by 2,889.0% in the first quarter. Jane Street Group LLC now owns 122,716 shares of the company's stock valued at $3,783,000 after purchasing an additional 127,116 shares during the period. Finally, Legal & General Group Plc grew its holdings in shares of Fresh Del Monte Produce by 5.4% in the second quarter. Legal & General Group Plc now owns 110,114 shares of the company's stock valued at $3,570,000 after purchasing an additional 5,609 shares during the period. Institutional investors and hedge funds own 64.83% of the company's stock.
Analysts Set New Price Targets
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 note on Saturday, February 21st. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat.com, Fresh Del Monte Produce has an average rating of "Buy".
Check Out Our Latest Stock Report on Fresh Del Monte Produce
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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