Fresh Del Monte Produce Inc. (NYSE:FDP) SVP Ziad Nabulsi Sells 1,725 Shares

Fresh Del Monte Produce Inc. (NYSE:FDP - Get Free Report) SVP Ziad Nabulsi sold 1,725 shares of the company's 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 $52,474.50. Following the completion of the transaction, the senior vice president now owns 11,498 shares in the company, valued at $349,769.16. This represents a 13.05 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Fresh Del Monte Produce Trading Up 2.4 %

NYSE FDP traded up $0.72 on Friday, reaching $31.23. The stock had a trading volume of 426,930 shares, compared to its average volume of 270,367. The firm has a market capitalization of $1.50 billion, a price-to-earnings 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 12-month low of $21.23 and a 12-month high of $35.27. The stock has a fifty day moving average price of $31.07 and a two-hundred day moving average price of $31.15.

Fresh Del Monte Produce (NYSE:FDP - Get Free Report) last announced its earnings results 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). The firm had revenue of $1.01 billion during the quarter, compared to analysts' expectations of $1.14 billion. Fresh Del Monte Produce had a net margin of 0.36% and a return on equity of 5.91%. The firm's revenue for the quarter was up .5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.25 EPS.

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Fresh Del Monte Produce Increases Dividend

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

Fresh Del Monte Produce announced that its Board of Directors has initiated a share repurchase plan on Monday, February 24th that permits the company to repurchase $150.00 million in outstanding shares. This repurchase authorization permits the company to buy up to 10.4% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's leadership believes its shares are undervalued.

Institutional Trading of Fresh Del Monte Produce

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FDP. Public Employees Retirement System of Ohio purchased a new stake in shares of Fresh Del Monte Produce during the fourth quarter worth $350,000. McIlrath & Eck LLC purchased a new stake in shares of Fresh Del Monte Produce during the fourth quarter worth $48,000. Teza Capital Management LLC increased its position in shares of Fresh Del Monte Produce by 99.6% during the fourth quarter. Teza Capital Management LLC now owns 16,989 shares of the company's stock worth $564,000 after acquiring an additional 8,476 shares during the period. State of Wyoming purchased a new stake in shares of Fresh Del Monte Produce during the fourth quarter worth $54,000. Finally, ProShare Advisors LLC increased its position 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 acquiring an additional 3,135 shares during the period. Hedge funds and other institutional investors own 64.83% of the company's stock.

Wall Street Analyst Weigh In

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

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.