Effie Silva Sells 5,894 Shares of Fresh Del Monte Produce (NYSE:FDP) Stock

Fresh Del Monte Produce, Inc. (NYSE:FDP) SVP Effie Silva sold 5,894 shares of Fresh Del Monte Produce stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $41.94, for a total value of $247,194.36. Following the transaction, the senior vice president owned 8,536 shares of the company’s stock, valued at $357,999.84. This trade represents a 40.85% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Fresh Del Monte Produce Stock Performance

Shares of FDP opened at $41.91 on Friday. The firm has a market capitalization of $1.99 billion, a P/E ratio of 22.29 and a beta of 0.28. Fresh Del Monte Produce, Inc. has a 52 week low of $29.00 and a 52 week high of $43.58. The stock has a 50 day moving average price of $39.45 and a two-hundred day moving average price of $36.99. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.06 and a current ratio of 2.16.

Fresh Del Monte Produce (NYSE:FDP) last posted its earnings results on Wednesday, February 18th. The company reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.28 by $0.42. The company had revenue of $968.20 million for the quarter, compared to analyst estimates of $1.01 billion. Fresh Del Monte Produce had a return on equity of 7.63% and a net margin of 2.10%.The company’s revenue for the quarter was up .6% on a year-over-year basis. During the same quarter last year, the company earned $0.26 earnings per share.

Fresh Del Monte Produce Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 27th. Investors of record on Wednesday, March 4th will be given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend is Wednesday, March 4th. Fresh Del Monte Produce’s dividend payout ratio is presently 63.83%.

Hedge Funds Weigh In On Fresh Del Monte Produce

Several institutional investors have recently modified their holdings of FDP. Geneos Wealth Management Inc. increased its position in shares of Fresh Del Monte Produce by 26.1% during the fourth quarter. Geneos Wealth Management Inc. now owns 1,450 shares of the company’s stock valued at $52,000 after acquiring an additional 300 shares during the last quarter. State of Alaska Department of Revenue boosted its position in Fresh Del Monte Produce by 1.6% in the fourth quarter. State of Alaska Department of Revenue now owns 18,832 shares of the company’s stock worth $670,000 after purchasing an additional 302 shares during the last quarter. HighTower Advisors LLC boosted its position in Fresh Del Monte Produce by 5.2% in the fourth quarter. HighTower Advisors LLC now owns 9,982 shares of the company’s stock worth $356,000 after purchasing an additional 489 shares during the last quarter. Outfitters Financial LLC grew its stake in Fresh Del Monte Produce by 1.5% in the 4th quarter. Outfitters Financial LLC now owns 33,145 shares of the company’s stock valued at $1,181,000 after purchasing an additional 500 shares during the period. Finally, Russell Investments Group Ltd. grew its stake in Fresh Del Monte Produce by 0.7% in the 4th quarter. Russell Investments Group Ltd. now owns 71,447 shares of the company’s stock valued at $2,546,000 after purchasing an additional 514 shares during the period. 64.83% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have issued reports on FDP. Weiss Ratings raised shares of Fresh Del Monte Produce from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, February 23rd. 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. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, Fresh Del Monte Produce currently has an average rating of “Buy”.

Fresh Del Monte Produce Company Profile

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.