Fresh Del Monte Produce Inc. (NYSE:FDP) COO Mohammed Abbas Sells 5,064 Shares of Stock

Fresh Del Monte Produce Inc. (NYSE:FDP) COO Mohammed Abbas sold 5,064 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $30.42, for a total value 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. This trade represents a 10.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Fresh Del Monte Produce Stock Performance

Shares of NYSE FDP opened at $30.02 on Thursday. The stock has a market capitalization of $1.44 billion, a P/E ratio of 90.96 and a beta of 0.33. The firm’s 50-day moving average price is $31.24 and its two-hundred day moving average price is $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 Inc. has a 52-week low of $21.23 and a 52-week high of $35.27.

Fresh Del Monte Produce (NYSE:FDP) last released its earnings results on Monday, February 24th. The company reported $0.26 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 for the quarter, compared to analyst estimates of $1.14 billion. During the same period in the previous year, the business posted $0.25 EPS. The firm’s quarterly revenue was up .5% on a year-over-year basis.

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

Fresh Del Monte Produce Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Monday, March 10th will be given a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 4.00%. The ex-dividend date of this dividend is Monday, March 10th. This is an increase from Fresh Del Monte Produce’s previous quarterly dividend of $0.25. Fresh Del Monte Produce’s dividend payout ratio is 40.40%.

Hedge Funds Weigh In On Fresh Del Monte Produce

A number of hedge funds have recently modified their holdings of FDP. Public Employees Retirement System of Ohio bought a new stake in Fresh Del Monte Produce in the fourth quarter worth $350,000. McIlrath & Eck LLC acquired a new stake in shares of Fresh Del Monte Produce during the 4th quarter valued at about $48,000. Teza Capital Management LLC raised its holdings in shares of Fresh Del Monte Produce by 99.6% in the 4th quarter. Teza Capital Management LLC now owns 16,989 shares of the company’s stock worth $564,000 after buying an additional 8,476 shares in the last quarter. State of Wyoming acquired a new stake in shares of Fresh Del Monte Produce in the 4th quarter valued at $54,000. Finally, ProShare Advisors LLC increased its holdings in shares of Fresh Del Monte Produce by 44.5% during the fourth quarter. ProShare Advisors LLC now owns 10,182 shares of the company’s stock worth $338,000 after buying an additional 3,135 shares in the last quarter. 64.83% of the stock is owned by institutional investors and hedge funds.

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.