Insider Selling: Fresh Del Monte Produce Inc. (NYSE:FDP) SVP Sells $35,645.40 in Stock

Fresh Del Monte Produce Inc. (NYSE:FDP) SVP Marissa R. Tenazas sold 1,148 shares of the firm’s stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $31.05, for a total transaction of $35,645.40. Following the sale, the senior vice president now owns 3,573 shares in the company, valued at $110,941.65. The trade was a 24.32 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Fresh Del Monte Produce Stock Down 2.6 %

NYSE FDP opened at $30.57 on Friday. Fresh Del Monte Produce Inc. has a 12 month low of $21.23 and a 12 month high of $35.27. 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 $1.47 billion, a PE ratio of 92.64 and a beta of 0.36. The stock’s 50 day moving average is $30.48 and its 200 day moving average is $31.32.

Fresh Del Monte Produce (NYSE:FDP) last released 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). Fresh Del Monte Produce had a net margin of 0.36% and a return on equity of 5.91%. The company had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $1.14 billion. During the same quarter in the previous year, the business earned $0.25 EPS. The company’s quarterly revenue was up .5% on a year-over-year basis.

Fresh Del Monte Produce Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Monday, March 10th were paid a $0.30 dividend. The ex-dividend date was Monday, March 10th. This represents a $1.20 annualized dividend and a yield of 3.93%. This is a boost from Fresh Del Monte Produce’s previous quarterly dividend of $0.25. Fresh Del Monte Produce’s payout ratio is presently 40.40%.

Fresh Del Monte Produce declared that its Board of Directors has authorized a share buyback plan on Monday, February 24th that permits the company to buyback $150.00 million in shares. This buyback authorization permits the company to reacquire up to 10.4% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

Institutional Investors Weigh In On Fresh Del Monte Produce

Hedge funds have recently made changes to their positions in the company. Public Employees Retirement System of Ohio bought a new stake in Fresh Del Monte Produce in the 4th quarter worth approximately $350,000. McIlrath & Eck LLC purchased a new position in shares of Fresh Del Monte Produce in the fourth quarter valued at $48,000. Teza Capital Management LLC increased its position in Fresh Del Monte Produce by 99.6% in the fourth quarter. Teza Capital Management LLC now owns 16,989 shares of the company’s stock worth $564,000 after purchasing an additional 8,476 shares during the last quarter. State of Wyoming purchased a new stake in Fresh Del Monte Produce during the fourth quarter valued at $54,000. Finally, ProShare Advisors LLC lifted its position in Fresh Del Monte Produce by 44.5% during the fourth quarter. ProShare Advisors LLC now owns 10,182 shares of the company’s stock valued at $338,000 after purchasing an additional 3,135 shares during the last quarter. 64.83% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut Fresh Del Monte Produce from a “buy” rating to a “hold” rating in a report on Tuesday, March 25th.

About Fresh Del Monte Produce

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.