Ghazaleh Mohammad Abu Sells 39,130 Shares of Fresh Del Monte Produce, Inc. (NYSE:FDP) 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 company's stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $37.22, for a total transaction of $1,456,418.60. Following the transaction, the chief executive officer owned 5,093,911 shares of the company's stock, valued at approximately $189,595,367.42. This represents a 0.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Fresh Del Monte Produce Trading Up 1.2%

NYSE FDP traded up $0.43 on Friday, hitting $36.49. The company's stock had a trading volume of 237,532 shares, compared to its average volume of 375,999. 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, Inc. has a 1-year low of $26.50 and a 1-year high of $40.75. The company's 50-day moving average is $34.05 and its 200 day moving average is $32.45. The firm has a market cap of $1.75 billion, a PE ratio of 11.70 and a beta of 0.42.

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 (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.28. Fresh Del Monte Produce had a net margin of 3.49% and a return on equity of 6.84%. The firm had revenue of $1.18 billion during the quarter, compared to analysts' expectations of $1.16 billion. During the same period in the prior year, the company posted $1.06 EPS. The company's revenue was up 3.8% on a year-over-year basis.

Fresh Del Monte Produce Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 5th. Stockholders 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 annualized dividend and a dividend yield of 3.3%. Fresh Del Monte Produce's dividend payout ratio is 38.46%.

Analyst Ratings Changes

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

Institutional Investors Weigh In On Fresh Del Monte Produce

Several large investors have recently modified their holdings of the company. SummerHaven Investment Management LLC increased its position in shares of Fresh Del Monte Produce by 1.2% during the second quarter. SummerHaven Investment Management LLC now owns 36,419 shares of the company's stock worth $1,181,000 after buying an additional 415 shares during the period. Arizona State Retirement System boosted its stake in Fresh Del Monte Produce by 5.0% during the first quarter. Arizona State Retirement System now owns 11,688 shares of the company's stock worth $360,000 after acquiring an additional 558 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in Fresh Del Monte Produce by 7.3% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 8,614 shares of the company's stock worth $279,000 after acquiring an additional 583 shares in the last quarter. Waterfront Wealth Inc. boosted its stake in Fresh Del Monte Produce by 1.3% during the second quarter. Waterfront Wealth Inc. now owns 48,272 shares of the company's stock worth $1,565,000 after acquiring an additional 599 shares in the last quarter. Finally, Bank of Montreal Can boosted its stake in Fresh Del Monte Produce by 7.4% during the fourth quarter. Bank of Montreal Can now owns 9,669 shares of the company's stock worth $321,000 after acquiring an additional 666 shares in the last quarter. 64.83% of the stock is currently owned by institutional investors and hedge funds.

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.