Fresh Del Monte Produce Inc. (NYSE:FDP) COO Sells $154,046.88 in Stock

Fresh Del Monte Produce Inc. (NYSE:FDP) COO Mohammed Abbas sold 5,064 shares of the business’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $30.42, for a total transaction of $154,046.88. Following the transaction, the chief operating officer now owns 45,560 shares of the company’s stock, valued at approximately $1,385,935.20. The trade was a 10.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.

Fresh Del Monte Produce Stock Performance

Shares of FDP opened at $31.23 on Friday. The company has a market capitalization of $1.50 billion, a price-to-earnings ratio of 94.64 and a beta of 0.33. Fresh Del Monte Produce Inc. has a 52-week low of $21.23 and a 52-week high of $35.27. The company has a quick ratio of 1.04, a current ratio of 2.09 and a debt-to-equity ratio of 0.14. The stock has a 50 day moving average price of $31.11 and a 200 day moving average price of $31.08.

Fresh Del Monte Produce (NYSE:FDP) last issued its earnings results on Monday, February 24th. The company reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.42 by ($0.16). Fresh Del Monte Produce had a net margin of 0.36% and a return on equity of 5.91%. The company had revenue of $1.01 billion during the quarter, compared to analyst estimates of $1.14 billion. During the same quarter in the previous year, the company posted $0.25 EPS. The company’s quarterly revenue was up .5% on a year-over-year basis.

Fresh Del Monte Produce Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Monday, March 10th will be given a dividend of $0.30 per share. The ex-dividend date is Monday, March 10th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.84%. This is a boost from Fresh Del Monte Produce’s previous quarterly dividend of $0.25. Fresh Del Monte Produce’s payout ratio is 40.40%.

Fresh Del Monte Produce announced that its board has authorized a stock buyback plan on Monday, February 24th that permits the company to repurchase $150.00 million in shares. This repurchase authorization permits the company to repurchase up to 10.4% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board believes its shares are undervalued.

Institutional Trading of Fresh Del Monte Produce

Large investors have recently made changes to their positions in the company. Public Employees Retirement System of Ohio purchased a new stake in Fresh Del Monte Produce in the fourth quarter valued at approximately $350,000. McIlrath & Eck LLC purchased a new stake in Fresh Del Monte Produce in the 4th quarter valued at $48,000. Teza Capital Management LLC boosted its stake in Fresh Del Monte Produce by 99.6% during the 4th quarter. Teza Capital Management LLC now owns 16,989 shares of the company’s stock worth $564,000 after purchasing an additional 8,476 shares during the period. State of Wyoming purchased a new position in Fresh Del Monte Produce during the 4th quarter worth $54,000. Finally, ProShare Advisors LLC increased its stake in Fresh Del Monte Produce by 44.5% in the fourth quarter. ProShare Advisors LLC now owns 10,182 shares of the company’s stock valued at $338,000 after purchasing an additional 3,135 shares during the period. 64.83% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded Fresh Del Monte Produce from a “buy” rating to a “hold” rating in a report on Friday.

Fresh Del Monte Produce Company Profile

Fresh Del Monte Produce Inc, through its subsidiaries, produces, markets, and distributes fresh and fresh-cut fruits and vegetables in North America, Central America, South America, Europe, the Middle East, Africa, Asia, and internationally. It operates through three segments: Fresh and Value-Added Products, Banana, and Other Products and Services.