Fresh Del Monte Produce Inc. (NYSE:FDP) CFO Monica Vicente Sells 2,532 Shares

Fresh Del Monte Produce Inc. (NYSE:FDP) CFO Monica Vicente sold 2,532 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $30.42, for a total value of $77,023.44. Following the sale, the chief financial officer now owns 10,808 shares of the company’s stock, valued at approximately $328,779.36. This represents a 18.98 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Fresh Del Monte Produce Trading Up 0.2 %

Shares of NYSE:FDP opened at $30.02 on Thursday. Fresh Del Monte Produce Inc. has a 12-month low of $21.23 and a 12-month high of $35.27. The stock has a market cap of $1.44 billion, a PE ratio of 90.96 and a beta of 0.33. The business has a 50 day moving average of $31.24 and a 200-day moving average of $31.09. The company has a quick ratio of 1.04, a current ratio of 2.09 and a debt-to-equity ratio of 0.14.

Fresh Del Monte Produce (NYSE:FDP) last issued its quarterly 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 the consensus estimate of $1.14 billion. During the same quarter last year, the firm posted $0.25 earnings per share. The company’s quarterly revenue was up .5% on a year-over-year basis.

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

Fresh Del Monte Produce Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Monday, March 10th will be paid a dividend of $0.30 per share. The ex-dividend date is Monday, March 10th. This is a boost from Fresh Del Monte Produce’s previous quarterly dividend of $0.25. This represents a $1.20 annualized dividend and a yield of 4.00%. Fresh Del Monte Produce’s dividend payout ratio is presently 40.40%.

Institutional Investors Weigh In On Fresh Del Monte Produce

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Pacer Advisors Inc. acquired a new position in shares of Fresh Del Monte Produce during the fourth quarter worth $42,522,000. Advisors Preferred LLC acquired a new position in shares of Fresh Del Monte Produce during the fourth quarter worth $7,459,000. American Century Companies Inc. increased its holdings in shares of Fresh Del Monte Produce by 22.0% during the fourth quarter. American Century Companies Inc. now owns 950,108 shares of the company’s stock worth $31,553,000 after buying an additional 171,574 shares in the last quarter. Invesco Ltd. increased its holdings in shares of Fresh Del Monte Produce by 21.7% during the fourth quarter. Invesco Ltd. now owns 919,612 shares of the company’s stock worth $30,540,000 after buying an additional 164,120 shares in the last quarter. Finally, Vanguard Group Inc. increased its holdings in shares of Fresh Del Monte Produce by 2.8% during the fourth quarter. Vanguard Group Inc. now owns 4,809,451 shares of the company’s stock worth $159,722,000 after buying an additional 133,122 shares in the last quarter. 64.83% of the stock is currently owned by institutional investors.

About Fresh Del Monte Produce

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.