Insider Selling: Fresh Del Monte Produce, Inc. (FDP) SVP Sells 6,886 Shares of Stock
Fresh Del Monte Produce, Inc. (NYSE:FDP) SVP Paul Rice sold 6,886 shares of the company’s stock in a transaction that occurred on Thursday, August 3rd. The stock was sold at an average price of $49.50, for a total transaction of $340,857.00. Following the sale, the senior vice president now directly owns 6,886 shares of the company’s stock, valued at approximately $340,857. The sale was disclosed in a filing with the SEC, which is available at the SEC website.
Shares of Fresh Del Monte Produce, Inc. (NYSE:FDP) traded up 0.28% during mid-day trading on Friday, hitting $49.97. 391,163 shares of the stock were exchanged. The stock’s 50-day moving average is $50.81 and its 200-day moving average is $55.36. The stock has a market capitalization of $2.50 billion, a price-to-earnings ratio of 15.89 and a beta of 0.42. Fresh Del Monte Produce, Inc. has a 52 week low of $46.31 and a 52 week high of $66.86.
Fresh Del Monte Produce (NYSE:FDP) last issued its quarterly earnings data on Tuesday, August 1st. The company reported $1.40 EPS for the quarter, missing the consensus estimate of $1.55 by $0.15. The firm had revenue of $1.15 billion for the quarter. Fresh Del Monte Produce had a net margin of 3.99% and a return on equity of 10.23%. The company’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same period in the prior year, the company posted $1.75 earnings per share. Analysts forecast that Fresh Del Monte Produce, Inc. will post $3.79 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 8th. Investors of record on Wednesday, August 16th will be paid a dividend of $0.15 per share. The ex-dividend date of this dividend is Monday, August 14th. This represents a $0.60 annualized dividend and a yield of 1.20%. Fresh Del Monte Produce’s dividend payout ratio is currently 18.93%.
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Separately, Zacks Investment Research downgraded shares of Fresh Del Monte Produce from a “hold” rating to a “sell” rating in a report on Monday, May 1st.
A number of institutional investors have recently modified their holdings of FDP. Lingohr & Partner Asset Management GmbH purchased a new stake in Fresh Del Monte Produce during the first quarter valued at $754,000. Icon Advisers Inc. Co. purchased a new stake in Fresh Del Monte Produce during the first quarter valued at $320,000. Shell Asset Management Co. purchased a new stake in Fresh Del Monte Produce during the first quarter valued at $748,000. Eqis Capital Management Inc. raised its stake in Fresh Del Monte Produce by 24.8% in the first quarter. Eqis Capital Management Inc. now owns 4,558 shares of the company’s stock valued at $270,000 after buying an additional 907 shares during the last quarter. Finally, Tdam USA Inc. raised its stake in Fresh Del Monte Produce by 0.5% in the first quarter. Tdam USA Inc. now owns 18,841 shares of the company’s stock valued at $1,116,000 after buying an additional 95 shares during the last quarter. 66.39% of the stock is owned by institutional investors.
About Fresh Del Monte Produce
Fresh Del Monte Produce Inc is a holding company. The Company, through its subsidiaries, is engaged in sourcing, transportation and marketing of fresh and fresh-cut produce together with prepared food products in Europe, Africa and the Middle East. Its operations are aggregated into business segments on the basis of its products: bananas, other fresh produce and prepared food.
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