Insider Selling: Fresh Del Monte Produce (NYSE:FDP) SVP Sells 7,395 Shares of Stock

Fresh Del Monte Produce, Inc. (NYSE:FDP) SVP Ziad Nabulsi sold 7,395 shares of the business’s stock in a transaction on Friday, March 6th. The shares were sold at an average price of $42.01, for a total value of $310,663.95. Following the completion of the sale, the senior vice president owned 8,397 shares in the company, valued at approximately $352,757.97. The trade was a 46.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Ziad Nabulsi also recently made the following trade(s):

• On Wednesday, March 4th, Ziad Nabulsi sold 616 shares of Fresh Del Monte Produce stock. The shares were sold at an average price of $42.28, for a total value of $26,044.48.
• On Tuesday, March 3rd, Ziad Nabulsi sold 1,112 shares of Fresh Del Monte Produce stock. The shares were sold at an average price of $42.50, for a total transaction of $47,260.00.

Fresh Del Monte Produce Stock Performance

NYSE:FDP traded down $0.30 on Tuesday, reaching $41.62. 259,429 shares of the company’s stock were exchanged, compared to its average volume of 239,842. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.16 and a quick ratio of 1.06. The firm has a market cap of $1.97 billion, a price-to-earnings ratio of 22.14 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 fifty day simple moving average of $39.09 and a 200-day simple moving average of $36.89.

Fresh Del Monte Produce (NYSE:FDP) last released its quarterly earnings data 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. Fresh Del Monte Produce had a net margin of 2.10% and a return on equity of 7.63%. The business had revenue of $968.20 million during the quarter, compared to analyst estimates of $1.01 billion. During the same period in the previous year, the business earned $0.26 EPS. Fresh Del Monte Produce’s revenue was up .6% compared to the same quarter last year.

Fresh Del Monte Produce Announces Dividend

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

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Fresh Del Monte Produce by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,090 shares of the company’s stock worth $619,000 after buying an additional 879 shares during the period. Millennium Management LLC lifted its position in Fresh Del Monte Produce by 1,647.2% during the 1st quarter. Millennium Management LLC now owns 596,496 shares of the company’s stock valued at $18,390,000 after acquiring an additional 562,356 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Fresh Del Monte Produce by 10.7% during 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 valued at $2,926,000 after acquiring an additional 9,202 shares during the period. Jane Street Group LLC boosted its stake in Fresh Del Monte Produce by 2,889.0% during the first quarter. Jane Street Group LLC now owns 122,716 shares of the company’s stock worth $3,783,000 after acquiring an additional 127,116 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in Fresh Del Monte Produce by 2.6% in the second quarter. Bank of New York Mellon Corp now owns 264,319 shares of the company’s stock worth $8,569,000 after purchasing an additional 6,788 shares during the period. 64.83% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Weiss Ratings raised Fresh Del Monte Produce from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, February 23rd. Wall Street Zen raised 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, Based on data from MarketBeat.com, the company 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.