Fresh Del Monte Produce, Inc. (NYSE:FDP) CEO Ghazaleh Mohammad Abu Sells 50,000 Shares

Key Points

• CEO Ghazaleh Mohammad Abu of Fresh Del Monte Produce sold 50,000 shares at an average price of $35.92, totaling approximately $1.8 million, reducing his ownership stake by 0.99%.
• The company reported a quarterly **earnings per share** (EPS) of $1.23, exceeding analysts' expectations of $0.95, along with revenues of **$1.18 billion**, a 3.8% increase year-over-year.
• Fresh Del Monte Produce also declared a **quarterly dividend** of $0.30 per share, with a yield of **3.4%**, set to be paid on September 5th to shareholders on record by August 13th.

Fresh Del Monte Produce, Inc. (NYSE:FDP - Get Free Report) CEO Ghazaleh Mohammad Abu sold 50,000 shares of Fresh Del Monte Produce stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $35.92, for a total value of $1,796,000.00. Following the transaction, the chief executive officer directly owned 4,990,782 shares of the company's stock, valued at $179,268,889.44. The trade was a 0.99% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

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

• On Thursday, August 14th, Ghazaleh Mohammad Abu sold 7,575 shares of Fresh Del Monte Produce stock. The shares were sold at an average price of $36.61, for a total value of $277,320.75.
• On Tuesday, August 12th, Ghazaleh Mohammad Abu sold 20,000 shares of Fresh Del Monte Produce stock. The shares were sold at an average price of $36.89, for a total value of $737,800.00.
• On Friday, August 8th, Ghazaleh Mohammad Abu sold 5,554 shares of Fresh Del Monte Produce stock. The shares were 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 shares were sold at an average price of $37.22, for a total transaction of $1,456,418.60.

Fresh Del Monte Produce Price Performance

Shares of NYSE FDP traded up $0.22 during midday trading on Monday, hitting $35.79. 236,154 shares of the company's stock were exchanged, compared to its average volume of 379,039. The business's fifty day moving average price is $34.30 and its two-hundred day moving average price is $32.63. The company has a market cap of $1.72 billion, a price-to-earnings ratio of 11.47 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 EPS for the quarter, topping analysts' consensus estimates of $0.95 by $0.28. The business had revenue of $1.18 billion during the quarter, compared to analysts' expectations of $1.16 billion. Fresh Del Monte Produce had a net margin of 3.49% and a return on equity of 6.84%. The business's quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.06 EPS.

Fresh Del Monte Produce Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 5th. Shareholders of record on Wednesday, August 13th will be given a dividend of $0.30 per share. The ex-dividend date is Wednesday, August 13th. This represents a $1.20 dividend on an annualized basis and a yield of 3.4%. Fresh Del Monte Produce's dividend payout ratio (DPR) is presently 38.46%.

Institutional Investors Weigh In On Fresh Del Monte Produce

Hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of Fresh Del Monte Produce by 2.8% in the first quarter. Vanguard Group Inc. now owns 4,943,089 shares of the company's stock worth $152,395,000 after buying an additional 133,638 shares during the period. LSV Asset Management boosted its position in Fresh Del Monte Produce by 148.3% during the 2nd quarter. LSV Asset Management now owns 1,439,958 shares of the company's stock valued at $46,683,000 after acquiring an additional 859,940 shares in the last quarter. Wasatch Advisors LP purchased a new stake in Fresh Del Monte Produce in the second quarter worth $44,011,000. American Century Companies Inc. boosted its stake in Fresh Del Monte Produce by 12.8% during the second quarter. American Century Companies Inc. now owns 1,241,788 shares of the company's stock worth $40,259,000 after acquiring an additional 140,697 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in Fresh Del Monte Produce by 2.7% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,135,569 shares of the company's stock worth $35,010,000 after acquiring an additional 30,216 shares in the last quarter. Institutional investors own 64.83% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen upgraded Fresh Del Monte Produce from a "buy" rating to a "strong-buy" rating in a research report on Saturday, August 9th.

Fresh Del Monte Produce Company Profile

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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