Fresh Del Monte Produce, Inc. (NYSE:FDP) CEO Sells $1,456,418.60 in Stock

Key Points

• Fresh Del Monte Produce CEO Ghazaleh Mohammad Abu sold 39,130 shares for approximately $1.46 million, resulting in a 0.76% decrease in ownership.
• The company reported $1.23 EPS for the last quarter, surpassing analysts' expectations and achieving a 3.8% revenue increase year-over-year.
• Fresh Del Monte Produce announced a quarterly dividend of $0.30 per share, yielding 3.3% with a payout ratio of 38.46%.

Fresh Del Monte Produce, Inc. (NYSE:FDP - Get Free Report) CEO Ghazaleh Mohammad Abu sold 39,130 shares of the business's stock in a transaction on Monday, August 4th. The stock was sold at an average price of $37.22, for a total value of $1,456,418.60. Following the completion of the transaction, the chief executive officer directly owned 5,093,911 shares in the company, valued at approximately $189,595,367.42. This represents a 0.76% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Fresh Del Monte Produce Stock Performance

Shares of NYSE:FDP traded up $0.30 during mid-day trading on Wednesday, reaching $36.10. The company had a trading volume of 361,054 shares, compared to its average volume of 368,925. The company's 50-day moving average price is $33.96 and its 200-day moving average price is $32.35. Fresh Del Monte Produce, Inc. has a one year low of $26.50 and a one year high of $40.75. The firm has a market cap of $1.73 billion, a price-to-earnings ratio of 11.57 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 (NYSE:FDP - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The company reported $1.23 EPS for the quarter, beating analysts' consensus estimates of $0.95 by $0.28. The company had revenue of $1.18 billion for 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%. Fresh Del Monte Produce's revenue was up 3.8% compared to the same quarter last year. During the same period in the prior year, the company posted $1.06 EPS.

Fresh Del Monte Produce Announces Dividend

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

Institutional Trading of Fresh Del Monte Produce

A number of institutional investors have recently added to or reduced their stakes in FDP. Parvin Asset Management LLC bought a new position in Fresh Del Monte Produce in the 4th quarter worth about $30,000. Sterling Capital Management LLC lifted its holdings in shares of Fresh Del Monte Produce by 795.0% during the 4th quarter. Sterling Capital Management LLC now owns 1,083 shares of the company's stock worth $36,000 after acquiring an additional 962 shares during the last quarter. McIlrath & Eck LLC bought a new stake in shares of Fresh Del Monte Produce during the 4th quarter worth $48,000. State of Wyoming bought a new position in Fresh Del Monte Produce in the fourth quarter valued at $54,000. Finally, Parallel Advisors LLC raised its position in Fresh Del Monte Produce by 81.0% during the second quarter. Parallel Advisors LLC now owns 5,475 shares of the company's stock valued at $178,000 after purchasing an additional 2,450 shares in the last quarter. Hedge funds and other institutional investors own 64.83% of the company's stock.

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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