Fresh Del Monte Produce Inc. (NYSE:FDP) SVP Ziad Nabulsi Sells 1,725 Shares of Stock

Fresh Del Monte Produce Inc. (NYSE:FDP) SVP Ziad Nabulsi sold 1,725 shares of the business’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $30.42, for a total transaction of $52,474.50. Following the transaction, the senior vice president now directly owns 11,498 shares in the company, valued at approximately $349,769.16. The trade was a 13.05 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Fresh Del Monte Produce Trading Up 0.2 %

Shares of FDP stock opened at $30.02 on Thursday. The company’s 50-day moving average price is $31.24 and its 200-day moving average price is $31.09. The company has a current ratio of 2.09, a quick ratio of 1.04 and a debt-to-equity ratio of 0.14. The stock has a market cap of $1.44 billion, a price-to-earnings ratio of 90.96 and a beta of 0.33. Fresh Del Monte Produce Inc. has a twelve month low of $21.23 and a twelve month high of $35.27.

Fresh Del Monte Produce (NYSE:FDP) last issued its quarterly earnings data on Monday, February 24th. The company reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.42 by ($0.16). The company had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $1.14 billion. Fresh Del Monte Produce had a net margin of 0.36% and a return on equity of 5.91%. The firm’s quarterly revenue was up .5% on a year-over-year basis. During the same quarter last year, the firm posted $0.25 earnings per share.

Fresh Del Monte Produce announced that its board has authorized a share buyback program on Monday, February 24th that permits the company to buyback $150.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 10.4% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its shares are undervalued.

Fresh Del Monte Produce Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Monday, March 10th will be paid a dividend of $0.30 per share. The ex-dividend date of this dividend is 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 dividend on an annualized basis and a yield of 4.00%. Fresh Del Monte Produce’s dividend payout ratio is 40.40%.

Institutional Trading of Fresh Del Monte Produce

A number of large investors have recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in Fresh Del Monte Produce by 2.8% in the fourth quarter. Vanguard Group Inc. now owns 4,809,451 shares of the company’s stock valued at $159,722,000 after purchasing an additional 133,122 shares in the last quarter. State Street Corp boosted its holdings in Fresh Del Monte Produce by 1.2% in the third quarter. State Street Corp now owns 1,306,527 shares of the company’s stock valued at $38,595,000 after purchasing an additional 15,278 shares in the last quarter. Pacer Advisors Inc. acquired a new position in Fresh Del Monte Produce in the fourth quarter valued at approximately $42,522,000. Charles Schwab Investment Management Inc. boosted its holdings in Fresh Del Monte Produce by 4.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,105,353 shares of the company’s stock valued at $36,709,000 after purchasing an additional 44,777 shares in the last quarter. Finally, American Century Companies Inc. boosted its holdings in Fresh Del Monte Produce by 22.0% in the fourth quarter. American Century Companies Inc. now owns 950,108 shares of the company’s stock valued at $31,553,000 after purchasing an additional 171,574 shares in the last quarter. 64.83% of the stock is currently owned by hedge funds and other institutional investors.

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.