Fresh Del Monte Produce, Inc. (NYSE:FDP) CEO Sells $202,721.00 in Stock

Key Points

• Fresh Del Monte Produce CEO Ghazaleh Mohammad Abu sold 5,554 shares of stock for $202,721 on August 8, reducing their ownership by 0.11%.
• The company reported earnings of $1.23 per share for Q2 2023, exceeding analyst expectations, with a revenue of $1.18 billion.
• Fresh Del Monte Produce announced a quarterly dividend of $0.30, set to be paid on September 5, reflecting a 3.2% annualized dividend yield.

Fresh Del Monte Produce, Inc. (NYSE:FDP - Get Free Report) CEO Ghazaleh Mohammad Abu sold 5,554 shares of the firm's stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $36.50, for a total transaction of $202,721.00. Following the sale, the chief executive officer owned 5,088,357 shares of the company's stock, valued at approximately $185,725,030.50. This represents a 0.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

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

• 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 transaction of $737,800.00.
• 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 transaction of $1,456,418.60.

Fresh Del Monte Produce Stock Up 2.1%

FDP stock traded up $0.76 during mid-day trading on Tuesday, hitting $37.11. The stock had a trading volume of 299,705 shares, compared to its average volume of 392,172. 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 1-year low of $26.50 and a 1-year high of $40.75. The company has a fifty day moving average of $34.11 and a 200 day moving average of $32.53. The stock has a market capitalization of $1.78 billion, a price-to-earnings ratio of 11.90 and a beta of 0.42.

Fresh Del Monte Produce (NYSE:FDP - Get Free Report) last posted its earnings results on Wednesday, July 30th. The company reported $1.23 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.95 by $0.28. The firm 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 company's revenue was up 3.8% compared to the same quarter last year. During the same period in the previous year, the company earned $1.06 earnings per share.

Fresh Del Monte Produce Announces Dividend

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 paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date is Wednesday, August 13th. Fresh Del Monte Produce's payout ratio is presently 38.46%.

Institutional Trading of Fresh Del Monte Produce

A number of institutional investors and hedge funds have recently modified their holdings of FDP. LPL Financial LLC acquired a new stake in shares of Fresh Del Monte Produce in the fourth quarter worth $434,000. Franklin Resources Inc. lifted its stake in shares of Fresh Del Monte Produce by 60.6% in the fourth quarter. Franklin Resources Inc. now owns 58,962 shares of the company's stock worth $1,958,000 after buying an additional 22,252 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Fresh Del Monte Produce by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 776,161 shares of the company's stock worth $25,782,000 after buying an additional 3,045 shares during the last quarter. Wells Fargo & Company MN lifted its stake in shares of Fresh Del Monte Produce by 36.0% in the fourth quarter. Wells Fargo & Company MN now owns 36,565 shares of the company's stock worth $1,214,000 after buying an additional 9,673 shares during the last quarter. Finally, Bank of Montreal Can lifted its stake in shares of Fresh Del Monte Produce by 7.4% in the fourth quarter. Bank of Montreal Can now owns 9,669 shares of the company's stock worth $321,000 after buying an additional 666 shares during the last quarter. 64.83% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

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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