Fresh Del Monte Produce (NYSE:FDP) SVP Sells $42,258.40 in Stock

Fresh Del Monte Produce, Inc. (NYSE:FDP) SVP Marissa Tenazas sold 1,046 shares of the company’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 sale, the senior vice president directly owned 8,050 shares in the company, valued at approximately $325,220. This trade represents a 11.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Fresh Del Monte Produce Price Performance

FDP opened at $41.23 on Monday. The firm has a 50-day moving average price of $40.94 and a 200-day moving average price of $37.61. Fresh Del Monte Produce, Inc. has a twelve month low of $29.03 and a twelve month high of $43.58. The company has a quick ratio of 1.06, a current ratio of 2.16 and a debt-to-equity ratio of 0.09. The company has a market capitalization of $1.95 billion, a price-to-earnings ratio of 21.93 and a beta of 0.28.

Fresh Del Monte Produce (NYSE:FDP) last announced its quarterly 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. 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 for the quarter, compared to analysts’ expectations of $1.01 billion. During the same period in the prior year, the company posted $0.26 EPS. Fresh Del Monte Produce’s revenue was up .6% compared to the same quarter last year.

Fresh Del Monte Produce Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 27th. Stockholders of record on Wednesday, March 4th were issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend was Wednesday, March 4th. Fresh Del Monte Produce’s dividend payout ratio (DPR) is presently 63.83%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Rockefeller Capital Management L.P. raised its position in shares of Fresh Del Monte Produce by 44.7% in the fourth quarter. Rockefeller Capital Management L.P. now owns 2,569 shares of the company’s stock worth $92,000 after buying an additional 793 shares in the last quarter. Corient Private Wealth LLC boosted its stake in Fresh Del Monte Produce by 20.5% during the fourth quarter. Corient Private Wealth LLC now owns 9,527 shares of the company’s stock valued at $339,000 after buying an additional 1,623 shares during the period. EP Wealth Advisors LLC purchased a new position in Fresh Del Monte Produce during the fourth quarter worth about $256,000. XTX Topco Ltd purchased a new position in Fresh Del Monte Produce during the fourth quarter worth about $558,000. Finally, Virtus Investment Advisers LLC bought a new position in Fresh Del Monte Produce in the 4th quarter worth about $161,000. 64.83% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Wall Street Zen upgraded Fresh Del Monte Produce from a “hold” rating to a “buy” rating in a research note 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 investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy”.

Fresh Del Monte Produce Company Profile

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.