Fresh Del Monte Produce Inc. (NYSE:FDP) SVP Marissa R. Tenazas Sells 1,148 Shares

Fresh Del Monte Produce Inc. (NYSE:FDP - Get Free Report) SVP Marissa R. Tenazas sold 1,148 shares of the company's stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $31.05, for a total value of $35,645.40. Following 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 document filed with the Securities & Exchange Commission, which is available through the SEC website.

Fresh Del Monte Produce Stock Down 0.9 %

FDP stock traded down $0.28 during midday trading on Monday, hitting $30.27. The company's stock had a trading volume of 166,027 shares, compared to its average volume of 371,154. The company's fifty day moving average price is $30.48 and its 200 day moving average price is $31.33. Fresh Del Monte Produce Inc. has a twelve month low of $21.23 and a twelve month high of $35.27. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.09 and a quick ratio of 1.04. The stock has a market capitalization of $1.45 billion, a P/E ratio of 91.98 and a beta of 0.36.

Fresh Del Monte Produce (NYSE:FDP - Get Free Report) last posted its quarterly earnings results on Monday, February 24th. The company reported $0.26 earnings per share for the quarter, missing analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $1.14 billion. During the same quarter in the prior year, the business earned $0.25 earnings per share. The firm's revenue for the quarter was up .5% compared to the same quarter last year.

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Fresh Del Monte Produce Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Monday, March 10th were paid a dividend of $0.30 per share. The ex-dividend date of this dividend was Monday, March 10th. This is a positive change from Fresh Del Monte Produce's previous quarterly dividend of $0.25. This represents a $1.20 annualized dividend and a dividend yield of 3.96%. Fresh Del Monte Produce's payout ratio is currently 40.40%.

Fresh Del Monte Produce declared that its board has approved a share repurchase program on Monday, February 24th that allows the company to buyback $150.00 million in shares. This buyback authorization allows the company to reacquire up to 10.4% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's board believes its stock is undervalued.

Hedge Funds Weigh In On Fresh Del Monte Produce

A number of institutional investors have recently bought and sold shares of the business. Public Employees Retirement System of Ohio acquired a new position in shares of Fresh Del Monte Produce during the 4th quarter worth approximately $350,000. McIlrath & Eck LLC acquired a new position in Fresh Del Monte Produce in the 4th quarter valued at about $48,000. Teza Capital Management LLC lifted its position in 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 last quarter. State of Wyoming bought a new stake in shares of Fresh Del Monte Produce during the fourth quarter worth approximately $54,000. Finally, ProShare Advisors LLC boosted its stake in Fresh Del Monte Produce by 44.5% in the 4th quarter. ProShare Advisors LLC now owns 10,182 shares of the company's stock valued at $338,000 after purchasing an additional 3,135 shares during the period. Institutional investors and hedge funds own 64.83% of the company's stock.

Analyst Upgrades and Downgrades

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.

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.