Fresh Del Monte Produce (NYSE:FDP) COO Sells $67,150.00 in Stock

Fresh Del Monte Produce, Inc. (NYSE:FDP) COO Mohammed Abbas sold 1,580 shares of Fresh Del Monte Produce stock in a transaction that occurred on Tuesday, March 3rd. The shares were sold at an average price of $42.50, for a total value of $67,150.00. Following the sale, the chief operating officer directly owned 54,663 shares in the company, valued at $2,323,177.50. This trade represents a 2.81% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

Fresh Del Monte Produce Price Performance

FDP stock traded up $0.05 during midday trading on Wednesday, hitting $42.63. The company’s stock had a trading volume of 228,915 shares, compared to its average volume of 239,148. The company has a quick ratio of 1.06, a current ratio of 2.16 and a debt-to-equity ratio of 0.09. Fresh Del Monte Produce, Inc. has a 12 month low of $29.00 and a 12 month high of $43.58. The company has a 50 day moving average of $38.57 and a two-hundred day moving average of $36.71. The firm has a market capitalization of $2.02 billion, a price-to-earnings ratio of 22.67 and a beta of 0.28.

Fresh Del Monte Produce (NYSE:FDP) last released its earnings results on Wednesday, February 18th. The company reported $0.70 EPS for the quarter, topping the consensus estimate 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 firm had revenue of $968.20 million for the quarter, compared to the consensus estimate of $1.01 billion. During the same quarter in the previous year, the firm earned $0.26 earnings per share. The company’s quarterly revenue was up .6% compared to the same quarter last year.

Fresh Del Monte Produce Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 27th. Shareholders of record on Wednesday, March 4th will be paid a $0.30 dividend. The ex-dividend date is Wednesday, March 4th. This represents a $1.20 annualized dividend and a yield of 2.8%. Fresh Del Monte Produce’s payout ratio is presently 63.83%.

Wall Street Analyst Weigh In

A number of analysts have issued reports on FDP shares. 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 shares of Fresh Del Monte Produce from a “hold” rating to a “buy” rating in a report on Saturday, February 21st. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, Fresh Del Monte Produce currently has an average rating of “Buy”.

Institutional Trading of Fresh Del Monte Produce

A number of large investors have recently made changes to their positions in FDP. Geneos Wealth Management Inc. increased its stake in Fresh Del Monte Produce by 26.1% in the 4th quarter. Geneos Wealth Management Inc. now owns 1,450 shares of the company’s stock worth $52,000 after buying an additional 300 shares during the period. State of Alaska Department of Revenue boosted its holdings in shares of 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 valued at $670,000 after purchasing an additional 302 shares during the period. HighTower Advisors LLC increased its holdings in Fresh Del Monte Produce by 5.2% during the 4th 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 period. Outfitters Financial LLC grew its position in shares of Fresh Del Monte Produce by 1.5% during the 4th quarter. Outfitters Financial LLC now owns 33,145 shares of the company’s stock worth $1,181,000 after buying an additional 500 shares in the last quarter. Finally, Russell Investments Group Ltd. raised its holdings in shares of 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 in the last quarter. 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.