Ghazaleh Mohammad Abu Sells 50,000 Shares of Fresh Del Monte Produce (NYSE:FDP) Stock

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 the business's stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $35.92, for a total value of $1,796,000.00. Following the completion of the sale, the chief executive officer directly owned 4,990,782 shares of the company's stock, valued at $179,268,889.44. This represents a 0.99% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through 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 stock was 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 stock was 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 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 2.5%

Shares of NYSE:FDP traded up $0.8870 on Friday, reaching $36.6870. The company had a trading volume of 256,610 shares, compared to its average volume of 385,915. Fresh Del Monte Produce, Inc. has a twelve month low of $26.50 and a twelve month high of $40.75. The stock has a 50-day moving average price of $34.65 and a 200 day moving average price of $32.81. The stock has a market capitalization of $1.76 billion, a P/E ratio of 11.76 and a beta of 0.42. The company has a quick ratio of 1.11, a current ratio of 2.08 and a debt-to-equity ratio of 0.10.

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

Fresh Del Monte Produce Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 5th. Investors of record on Wednesday, August 13th will be given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 3.3%. The ex-dividend date of this dividend is Wednesday, August 13th. Fresh Del Monte Produce's payout ratio is currently 38.46%.

Analyst Upgrades and Downgrades

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

Hedge Funds Weigh In On Fresh Del Monte Produce

Large investors have recently added to or reduced their stakes in the company. LPL Financial LLC bought a new stake in shares of Fresh Del Monte Produce in the 4th quarter valued at approximately $434,000. Wells Fargo & Company MN grew its stake in shares of Fresh Del Monte Produce by 36.0% in the 4th quarter. Wells Fargo & Company MN now owns 36,565 shares of the company's stock valued at $1,214,000 after purchasing an additional 9,673 shares during the period. Bank of Montreal Can grew its stake in shares of Fresh Del Monte Produce by 7.4% in the 4th quarter. Bank of Montreal Can now owns 9,669 shares of the company's stock valued at $321,000 after purchasing an additional 666 shares during the period. Sterling Capital Management LLC grew its stake in shares of 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 valued at $36,000 after purchasing an additional 962 shares during the period. Finally, Mariner LLC bought a new stake in shares of Fresh Del Monte Produce in the 4th quarter valued at approximately $269,000. Institutional investors and hedge funds own 64.83% of the company's stock.

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.