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

Fresh Del Monte Produce Inc. (NYSE:FDP - Get Free Report) COO Mohammed Abbas sold 5,064 shares of the company's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $30.42, for a total value of $154,046.88. Following the sale, the chief operating officer now owns 45,560 shares of the company's stock, valued at $1,385,935.20. The trade was a 10.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Fresh Del Monte Produce Price Performance

Shares of NYSE:FDP traded up $0.72 during trading on Friday, hitting $31.23. 426,930 shares of the company were exchanged, compared to its average volume of 270,367. The business's 50 day moving average is $31.07 and its 200-day moving average is $31.15. The company has a market capitalization of $1.50 billion, a P/E ratio of 94.64 and a beta of 0.33. 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 1-year low of $21.23 and a 1-year high of $35.27.

Fresh Del Monte Produce (NYSE:FDP - Get Free Report) last announced 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). The company had revenue of $1.01 billion for the quarter, compared to analyst estimates of $1.14 billion. Fresh Del Monte Produce had a return on equity of 5.91% and a net margin of 0.36%. The firm's quarterly revenue was up .5% on a year-over-year basis. During the same quarter last year, the company posted $0.25 earnings per share.

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Fresh Del Monte Produce Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Monday, March 10th will be issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 3.84%. This is an increase from Fresh Del Monte Produce's previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Monday, March 10th. Fresh Del Monte Produce's dividend payout ratio is presently 40.40%.

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

Analyst Upgrades and Downgrades

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

Institutional Trading of Fresh Del Monte Produce

A number of institutional investors and hedge funds have recently bought and sold shares of FDP. Creative Planning acquired a new stake in Fresh Del Monte Produce in the third quarter valued at $261,000. Entropy Technologies LP acquired a new stake in Fresh Del Monte Produce in the third quarter valued at $314,000. Aigen Investment Management LP acquired a new stake in Fresh Del Monte Produce in the third quarter valued at $290,000. Victory Capital Management Inc. acquired a new stake in Fresh Del Monte Produce in the third quarter valued at $342,000. Finally, Royce & Associates LP acquired a new stake in Fresh Del Monte Produce in the third quarter valued at $201,000. 64.83% of the stock is currently 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.