Key Points
- Insider buying: Director Ahmad Abu-Ghazaleh purchased 4,000 shares of Fresh Del Monte Produce at $29.41 each, totaling $117,640. The SEC filing shows he now owns 4,000 shares.
- Recent results: Fresh Del Monte reported quarterly EPS of $0.63, slightly beating estimates, and revenue of $1.04 billion, also ahead of expectations. Revenue was still down 4.9% year over year.
- Dividend and sentiment: The company paid a quarterly dividend of $0.30, or $1.20 annualized, for a yield of about 4.2%. Wall Street’s consensus rating on the stock is currently Hold.
Fresh Del Monte Produce, Inc. (NYSE:FDP - Get Free Report) Director Ahmad Abu-Ghazaleh bought 4,000 shares of the firm's stock in a transaction dated Thursday, June 11th. The stock was purchased at an average price of $29.41 per share, for a total transaction of $117,640.00. Following the transaction, the director owned 4,000 shares of the company's stock, valued at approximately $117,640. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Fresh Del Monte Produce Stock Performance
Shares of NYSE:FDP opened at $28.83 on Tuesday. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.34 and a quick ratio of 1.10. The business's 50 day moving average price is $36.20 and its 200-day moving average price is $37.99. The firm has a market capitalization of $1.37 billion, a PE ratio of 19.88 and a beta of 0.22. Fresh Del Monte Produce, Inc. has a 1 year low of $28.13 and a 1 year high of $43.58.
Fresh Del Monte Produce (NYSE:FDP - Get Free Report) last issued its quarterly earnings results on Wednesday, May 6th. The company reported $0.63 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.62 by $0.01. The firm had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.03 billion. Fresh Del Monte Produce had a return on equity of 7.61% and a net margin of 1.63%.The business's revenue was down 4.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.63 earnings per share.
Fresh Del Monte Produce Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Thursday, June 11th. Stockholders of record on Tuesday, May 19th were paid a $0.30 dividend. The ex-dividend date of this dividend was Tuesday, May 19th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 4.2%. Fresh Del Monte Produce's payout ratio is currently 82.76%.
Institutional Inflows and Outflows
A number of large investors have recently added to or reduced their stakes in FDP. Wasatch Advisors LP acquired a new position in Fresh Del Monte Produce in the second quarter valued at approximately $44,011,000. Fisher Asset Management LLC acquired a new position in Fresh Del Monte Produce in the fourth quarter valued at approximately $21,174,000. Millennium Management LLC lifted its holdings in Fresh Del Monte Produce by 1,647.2% in the first quarter. Millennium Management LLC now owns 596,496 shares of the company's stock valued at $18,390,000 after acquiring an additional 562,356 shares during the last quarter. First Trust Advisors LP lifted its holdings in Fresh Del Monte Produce by 289.6% in the second quarter. First Trust Advisors LP now owns 243,686 shares of the company's stock valued at $7,900,000 after acquiring an additional 181,145 shares during the last quarter. Finally, Public Sector Pension Investment Board lifted its holdings in Fresh Del Monte Produce by 104.9% in the fourth quarter. Public Sector Pension Investment Board now owns 311,534 shares of the company's stock valued at $11,100,000 after acquiring an additional 159,490 shares during the last quarter. 64.83% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of equities research analysts have recently issued reports on FDP shares. Wall Street Zen lowered Fresh Del Monte Produce from a "buy" rating to a "hold" rating in a research report on Saturday, May 9th. Weiss Ratings lowered Fresh Del Monte Produce from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Monday, May 11th. One analyst has rated the stock with a Hold rating, According to data from MarketBeat, the stock currently has a consensus rating of "Hold".
Get Our Latest Analysis 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.
Read More
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].
