Fresh Del Monte Produce (NYSE:FDP) COO Mohammed Abbas Sells 1,580 Shares

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

Fresh Del Monte Produce Price Performance

Shares of FDP traded down $0.34 during mid-day trading on Thursday, reaching $42.32. 58,843 shares of the stock traded hands, compared to its average volume of 234,852. The company has a market cap of $2.01 billion, a price-to-earnings ratio of 22.53 and a beta of 0.28. Fresh Del Monte Produce, Inc. has a 1 year low of $29.00 and a 1 year high of $43.58. The firm has a fifty day moving average price of $38.70 and a 200 day moving average price of $36.75. The company has a current ratio of 2.16, a quick ratio of 1.06 and a debt-to-equity ratio of 0.09.

Fresh Del Monte Produce (NYSE:FDP) last posted its quarterly earnings data on Wednesday, February 18th. The company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.42. Fresh Del Monte Produce had a return on equity of 7.63% and a net margin of 2.10%.The company had revenue of $968.20 million during the quarter, compared to analyst estimates of $1.01 billion. During the same quarter last year, the company earned $0.26 earnings per share. The firm’s quarterly revenue was up .6% on a year-over-year basis.

Fresh Del Monte Produce Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 27th. Investors of record on Wednesday, March 4th will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date of this dividend is Wednesday, March 4th. Fresh Del Monte Produce’s dividend payout ratio (DPR) is currently 63.83%.

Institutional Trading of Fresh Del Monte Produce

Several institutional investors have recently added to or reduced their stakes in the business. Navellier & Associates Inc. purchased a new stake in Fresh Del Monte Produce during the 3rd quarter valued at about $2,864,000. Alps Advisors Inc. bought a new stake in Fresh Del Monte Produce in the third quarter valued at approximately $836,000. SG Americas Securities LLC purchased a new stake in shares of Fresh Del Monte Produce during the second quarter valued at approximately $261,000. Deroy & Devereaux Private Investment Counsel Inc. bought a new position in shares of Fresh Del Monte Produce in the third quarter worth approximately $2,263,000. Finally, LSV Asset Management increased its stake in shares of Fresh Del Monte Produce by 20.2% in the third quarter. LSV Asset Management now owns 1,731,248 shares of the company’s stock worth $60,109,000 after buying an additional 291,290 shares during the period. 64.83% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

FDP has been the topic of a number of research analyst reports. 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. Weiss Ratings upgraded Fresh Del Monte Produce from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, February 23rd. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the company presently has a consensus 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.