Fresh Del Monte Produce (NYSE:FDP) SVP Ziad Nabulsi Sells 1,112 Shares

Fresh Del Monte Produce, Inc. (NYSE:FDP) SVP Ziad Nabulsi sold 1,112 shares of the firm’s stock in a transaction dated Tuesday, March 3rd. The stock was sold at an average price of $42.50, for a total transaction of $47,260.00. Following the completion of the transaction, the senior vice president directly owned 13,901 shares in the company, valued at approximately $590,792.50. This represents a 7.41% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Fresh Del Monte Produce Price Performance

NYSE FDP traded up $0.05 during trading hours on Wednesday, hitting $42.63. 228,915 shares of the company’s stock traded hands, compared to its average volume of 239,148. The company has a market capitalization of $2.02 billion, a PE ratio of 22.67 and a beta of 0.28. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.16 and a quick ratio of 1.06. Fresh Del Monte Produce, Inc. has a 52-week low of $29.00 and a 52-week high of $43.58. The firm’s 50-day moving average is $38.57 and its 200-day moving average is $36.71.

Fresh Del Monte Produce (NYSE:FDP) last issued its earnings results on Wednesday, February 18th. The company reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.42. The business had revenue of $968.20 million for the quarter, compared to analysts’ expectations of $1.01 billion. Fresh Del Monte Produce had a return on equity of 7.63% and a net margin of 2.10%.The business’s revenue for the quarter was up .6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.26 EPS.

Fresh Del Monte Produce Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 27th. Investors of record on Wednesday, March 4th will be issued a $0.30 dividend. The ex-dividend date of this dividend is Wednesday, March 4th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.8%. Fresh Del Monte Produce’s dividend payout ratio is currently 63.83%.

Institutional Investors Weigh In On Fresh Del Monte Produce

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. EverSource Wealth Advisors LLC lifted its holdings in shares of Fresh Del Monte Produce by 390.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 962 shares of the company’s stock worth $31,000 after acquiring an additional 766 shares during the last quarter. Larson Financial Group LLC raised its position in Fresh Del Monte Produce by 1,488.5% in the third quarter. Larson Financial Group LLC now owns 969 shares of the company’s stock valued at $34,000 after purchasing an additional 908 shares during the period. Geneos Wealth Management Inc. lifted its stake in Fresh Del Monte Produce by 238.1% during the second quarter. Geneos Wealth Management Inc. now owns 1,065 shares of the company’s stock worth $35,000 after purchasing an additional 750 shares in the last quarter. Leonteq Securities AG acquired a new position in Fresh Del Monte Produce during the fourth quarter worth $39,000. Finally, Aster Capital Management DIFC Ltd purchased a new position in shares of Fresh Del Monte Produce during the fourth quarter worth $61,000. 64.83% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

FDP has been the topic of several recent analyst reports. Wall Street Zen upgraded shares of Fresh Del Monte Produce from a “hold” rating to a “buy” rating in a report on Saturday, February 21st. Weiss Ratings raised shares of Fresh Del Monte Produce from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, February 23rd. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, Fresh Del Monte Produce presently has an average rating of “Buy”.

About Fresh Del Monte Produce

Fresh Del Monte Produce Inc is a leading producer, marketer and distributor of fresh and fresh-cut fruits and vegetables worldwide. The company offers a wide range of products including bananas, pineapples, melons, grapes and avocados, along with value-added items such as fruit salads, vegetable trays and snack packs under the Del Monte® brand.

Founded in 1989 as a spin-off from Del Monte, Fresh Del Monte has developed a global supply chain that spans production farms, ripening facilities and packaging centers across Latin America, North America, Europe, Asia and Africa.