Fresh Del Monte Produce (NYSE:FDP) Director Ahmad Abu-Ghazaleh Buys 4,000 Shares

Fresh Del Monte Produce, Inc. (NYSE:FDP) Director Ahmad Abu-Ghazaleh acquired 4,000 shares of the stock in a transaction dated Thursday, June 11th. The stock was acquired at an average cost of $29.41 per share, with a total value of $117,640.00. Following the transaction, the director directly owned 4,000 shares in the company, valued at approximately $117,640. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Fresh Del Monte Produce Stock Performance

Shares of FDP stock opened at $28.83 on Tuesday. The firm has a market capitalization of $1.37 billion, a price-to-earnings ratio of 19.88 and a beta of 0.22. 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 has a fifty day moving average of $36.20 and a 200 day moving average of $37.99. 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) last issued its 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 company had revenue of $1.04 billion during 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 firm’s quarterly revenue was down 4.9% on a year-over-year basis. During the same quarter last year, the business posted $0.63 EPS.

Fresh Del Monte Produce Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 11th. Investors of record on Tuesday, May 19th were paid a $0.30 dividend. The ex-dividend date was Tuesday, May 19th. This represents a $1.20 dividend on an annualized basis and a yield of 4.2%. Fresh Del Monte Produce’s dividend payout ratio (DPR) is 82.76%.

Hedge Funds Weigh In On Fresh Del Monte Produce

Institutional investors and hedge funds have recently modified their holdings of the business. EverSource Wealth Advisors LLC increased its stake in shares of Fresh Del Monte Produce by 390.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 962 shares of the company’s stock valued at $31,000 after purchasing an additional 766 shares in the last quarter. Larson Financial Group LLC increased its stake in shares of Fresh Del Monte Produce by 1,488.5% in the 3rd quarter. Larson Financial Group LLC now owns 969 shares of the company’s stock valued at $34,000 after purchasing an additional 908 shares in the last quarter. Geneos Wealth Management Inc. increased its stake in shares of Fresh Del Monte Produce by 238.1% in the 2nd quarter. Geneos Wealth Management Inc. now owns 1,065 shares of the company’s stock valued at $35,000 after purchasing an additional 750 shares in the last quarter. Leonteq Securities AG purchased a new position in shares of Fresh Del Monte Produce in the 4th quarter valued at about $39,000. Finally, Aster Capital Management DIFC Ltd purchased a new position in shares of Fresh Del Monte Produce in the 4th quarter valued at about $61,000. Hedge funds and other institutional investors own 64.83% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Wall Street Zen lowered Fresh Del Monte Produce from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. Weiss Ratings lowered Fresh Del Monte Produce from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, May 11th. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold”.

About Fresh Del Monte Produce

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.