Fresh Del Monte Produce (NYSE:FDP) Director Acquires $117,640.00 in Stock

Fresh Del Monte Produce, Inc. (NYSE:FDP) Director Ahmad Abu-Ghazaleh purchased 4,000 shares of Fresh Del Monte Produce stock in a transaction that occurred on Thursday, June 11th. The shares were acquired at an average price of $29.41 per share, for a total transaction of $117,640.00. Following the acquisition, the director owned 4,000 shares in the company, valued at $117,640. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Fresh Del Monte Produce Trading Down 1.1%

Shares of FDP stock traded down $0.32 during trading hours on Monday, reaching $28.83. The company’s stock had a trading volume of 308,226 shares, compared to its average volume of 331,955. The stock has a market capitalization of $1.37 billion, a P/E ratio of 19.88 and a beta of 0.22. Fresh Del Monte Produce, Inc. has a one year low of $28.13 and a one year high of $43.58. The firm’s fifty day simple moving average is $36.45 and its 200 day simple moving average is $38.03. The company has a current ratio of 2.34, a quick ratio of 1.10 and a debt-to-equity ratio of 0.22.

Fresh Del Monte Produce (NYSE:FDP) last announced its earnings results on Wednesday, May 6th. The company reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.01. Fresh Del Monte Produce had a return on equity of 7.61% and a net margin of 1.63%.The company had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter in the prior year, the company earned $0.63 earnings per share. The firm’s revenue for the quarter was down 4.9% on a year-over-year basis.

Fresh Del Monte Produce Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 11th. Shareholders of record on Tuesday, May 19th were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 4.2%. The ex-dividend date of this dividend was Tuesday, May 19th. Fresh Del Monte Produce’s payout ratio is presently 82.76%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on FDP. Weiss Ratings downgraded shares of Fresh Del Monte Produce from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, May 11th. Wall Street Zen downgraded shares of Fresh Del Monte Produce from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat, the company currently has a consensus rating of “Hold”.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in FDP. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Fresh Del Monte Produce by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,090 shares of the company’s stock valued at $619,000 after purchasing an additional 879 shares during the period. Millennium Management LLC grew its position in shares of Fresh Del Monte Produce by 1,647.2% in the 1st quarter. Millennium Management LLC now owns 596,496 shares of the company’s stock worth $18,390,000 after buying an additional 562,356 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Fresh Del Monte Produce by 10.7% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 94,910 shares of the company’s stock worth $2,926,000 after buying an additional 9,202 shares during the period. Jane Street Group LLC grew its position in shares of Fresh Del Monte Produce by 2,889.0% in the 1st quarter. Jane Street Group LLC now owns 122,716 shares of the company’s stock worth $3,783,000 after buying an additional 127,116 shares during the period. Finally, Prudential Financial Inc. grew its position in shares of Fresh Del Monte Produce by 25.4% in the 2nd quarter. Prudential Financial Inc. now owns 9,016 shares of the company’s stock worth $292,000 after buying an additional 1,829 shares during the period. 64.83% of the stock is owned by hedge funds and other institutional investors.

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.