Fresh Del Monte Produce Inc. (NYSE:FDP - Get Free Report) SVP Marissa R. Tenazas sold 1,148 shares of the firm's stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $31.05, for a total transaction of $35,645.40. Following the completion of the transaction, the senior vice president now directly owns 3,573 shares of the company's stock, valued at $110,941.65. This represents a 24.32 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.
Fresh Del Monte Produce Stock Performance
FDP opened at $31.34 on Friday. 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 business has a 50 day moving average of $30.50 and a 200-day moving average of $31.29. 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 $1.50 billion, a price-to-earnings ratio of 94.98 and a beta of 0.36.
Fresh Del Monte Produce (NYSE:FDP - Get Free Report) last issued its quarterly earnings data on Monday, February 24th. The company reported $0.26 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.42 by ($0.16). Fresh Del Monte Produce had a return on equity of 5.91% and a net margin of 0.36%. The firm had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $1.14 billion. During the same quarter in the prior year, the firm earned $0.25 EPS. The company's revenue was up .5% on a year-over-year basis.
Fresh Del Monte Produce Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Monday, March 10th were issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 3.83%. This is a positive change from Fresh Del Monte Produce's previous quarterly dividend of $0.25. The ex-dividend date was Monday, March 10th. Fresh Del Monte Produce's dividend payout ratio is currently 40.40%.
Fresh Del Monte Produce announced that its board has authorized a share buyback program on Monday, February 24th that permits the company to buyback $150.00 million in shares. This buyback authorization permits the company to reacquire up to 10.4% of its shares through open market purchases. Shares buyback programs are typically a sign that the company's board believes its shares are undervalued.
Analyst Ratings Changes
Separately, StockNews.com cut shares of Fresh Del Monte Produce from a "buy" rating to a "hold" rating in a research note on Tuesday, March 25th.
Read Our Latest Stock Analysis on FDP
Institutional Investors Weigh In On Fresh Del Monte Produce
A number of institutional investors have recently modified their holdings of the business. Rhumbline Advisers raised its stake in Fresh Del Monte Produce by 0.3% in the 4th quarter. Rhumbline Advisers now owns 104,348 shares of the company's stock worth $3,465,000 after purchasing an additional 320 shares in the last quarter. Carolina Wealth Advisors LLC raised its position in shares of Fresh Del Monte Produce by 2.6% in the fourth quarter. Carolina Wealth Advisors LLC now owns 19,403 shares of the company's stock valued at $644,000 after buying an additional 486 shares in the last quarter. Waterfront Wealth Inc. grew its position in Fresh Del Monte Produce by 2.4% during the fourth quarter. Waterfront Wealth Inc. now owns 22,592 shares of the company's stock worth $750,000 after buying an additional 526 shares in the last quarter. Bank of Montreal Can increased its stake in Fresh Del Monte Produce by 7.4% during the 4th quarter. Bank of Montreal Can now owns 9,669 shares of the company's stock worth $321,000 after acquiring an additional 666 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Fresh Del Monte Produce by 3.7% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,211 shares of the company's stock valued at $638,000 after acquiring an additional 684 shares in the last quarter. Institutional investors own 64.83% of the company's stock.
About Fresh Del Monte Produce
(
Get Free Report)
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.
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