Fresh Del Monte Produce, Inc. (NYSE:FDP) CEO Ghazaleh Mohammad Abu Sells 20,000 Shares

Key Points

• Fresh Del Monte Produce CEO Ghazaleh Mohammad Abu sold 20,000 shares for a total of $737,800 on August 12, reducing her stake in the company by 0.39%.
• The company recently announced a quarterly dividend of $0.30 per share, resulting in an annualized yield of 3.2%.
• Fresh Del Monte Produce reported earnings per share of $1.23 for the last quarter, exceeding estimates by $0.28, with a revenue increase of 3.8% year over year.

Fresh Del Monte Produce, Inc. (NYSE:FDP - Get Free Report) CEO Ghazaleh Mohammad Abu sold 20,000 shares of the company's stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $36.89, for a total value of $737,800.00. Following the transaction, the chief executive officer owned 5,068,357 shares in the company, valued at $186,971,689.73. This trade represents a 0.39% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Ghazaleh Mohammad Abu also recently made the following trade(s):

• On Friday, August 8th, Ghazaleh Mohammad Abu sold 5,554 shares of Fresh Del Monte Produce stock. The stock was sold at an average price of $36.50, for a total value of $202,721.00.
• On Monday, August 4th, Ghazaleh Mohammad Abu sold 39,130 shares of Fresh Del Monte Produce stock. The stock was sold at an average price of $37.22, for a total value of $1,456,418.60.

Fresh Del Monte Produce Stock Up 2.1%

FDP stock traded up $0.76 during midday trading on Tuesday, hitting $37.11. The company's stock had a trading volume of 299,705 shares, compared to its average volume of 392,172. The firm's 50-day moving average is $34.11 and its 200-day moving average is $32.53. The company has a market cap of $1.78 billion, a PE ratio of 11.90 and a beta of 0.42. The company has a current ratio of 2.08, a quick ratio of 1.11 and a debt-to-equity ratio of 0.10. Fresh Del Monte Produce, Inc. has a 12 month low of $26.50 and a 12 month high of $40.75.

Fresh Del Monte Produce (NYSE:FDP - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The company reported $1.23 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.28. The firm had revenue of $1.18 billion for the quarter, compared to analysts' expectations of $1.16 billion. Fresh Del Monte Produce had a return on equity of 6.84% and a net margin of 3.49%. The company's revenue was up 3.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.06 EPS.

Fresh Del Monte Produce Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 5th. Investors of record on Wednesday, August 13th will be issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date of this dividend is Wednesday, August 13th. Fresh Del Monte Produce's dividend payout ratio (DPR) is currently 38.46%.

Hedge Funds Weigh In On Fresh Del Monte Produce

Institutional investors have recently bought and sold shares of the stock. Parvin Asset Management LLC bought a new position in Fresh Del Monte Produce in the 4th quarter worth $30,000. Sterling Capital Management LLC raised its holdings in Fresh Del Monte Produce by 795.0% in the 4th quarter. Sterling Capital Management LLC now owns 1,083 shares of the company's stock worth $36,000 after purchasing an additional 962 shares during the period. McIlrath & Eck LLC bought a new position in Fresh Del Monte Produce in the 4th quarter worth $48,000. State of Wyoming bought a new position in Fresh Del Monte Produce in the 4th quarter worth $54,000. Finally, Parallel Advisors LLC raised its holdings in Fresh Del Monte Produce by 81.0% in the 2nd quarter. Parallel Advisors LLC now owns 5,475 shares of the company's stock worth $178,000 after purchasing an additional 2,450 shares during the period. 64.83% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen upgraded Fresh Del Monte Produce from a "buy" rating to a "strong-buy" rating in a research note on Saturday.

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.

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