Ghazaleh Mohammad Abu Sells 7,575 Shares of Fresh Del Monte Produce, Inc. (NYSE:FDP) Stock

Key Points

• Ghazaleh Mohammad Abu, CEO of Fresh Del Monte Produce, recently sold a total of 7,575 shares of the company's stock for approximately $277,320.75, reducing his ownership to about 5 million shares valued at around $184.5 million.
• The company reported a quarterly earnings per share (EPS) of $1.23, exceeding estimates, with revenue reaching $1.18 billion, a year-over-year increase of 3.8%.
• Fresh Del Monte Produce declared a quarterly dividend of $0.30 per share, indicating an annualized yield of 3.4%, set to be paid on September 5th.

Fresh Del Monte Produce, Inc. (NYSE:FDP - Get Free Report) CEO Ghazaleh Mohammad Abu sold 7,575 shares of Fresh Del Monte Produce stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $36.61, for a total value of $277,320.75. Following the completion of the transaction, the chief executive officer owned 5,040,782 shares of the company's stock, valued at approximately $184,543,029.02. This represents a 0.15% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

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 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 Trading Up 0.1%

Shares of NYSE:FDP traded up $0.04 during trading hours on Friday, hitting $35.53. 320,925 shares of the company's stock traded hands, compared to its average volume of 379,961. Fresh Del Monte Produce, Inc. has a 1 year low of $26.50 and a 1 year high of $40.75. The business has a fifty day moving average price of $34.24 and a 200-day moving average price of $32.59. The firm has a market capitalization of $1.70 billion, a P/E ratio of 11.39 and a beta of 0.42. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.08 and a quick ratio of 1.11.

Fresh Del Monte Produce (NYSE:FDP - Get Free Report) last announced its 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 return on equity of 6.84% and a net margin of 3.49%. The business had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.16 billion. During the same quarter in the previous year, the business earned $1.06 earnings per share. The company's revenue for the quarter was up 3.8% compared to the same quarter last year.

Fresh Del Monte Produce Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 5th. Stockholders of record on Wednesday, August 13th will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 3.4%. The ex-dividend date of this dividend is Wednesday, August 13th. Fresh Del Monte Produce's payout ratio is currently 38.46%.

Analysts Set New Price Targets

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.

Hedge Funds Weigh In On Fresh Del Monte Produce

Large investors have recently bought and sold shares of the business. Parvin Asset Management LLC bought a new position in Fresh Del Monte Produce in the fourth quarter worth approximately $30,000. EverSource Wealth Advisors LLC increased its position in shares of Fresh Del Monte Produce by 390.8% during the second quarter. EverSource Wealth Advisors LLC now owns 962 shares of the company's stock worth $31,000 after purchasing an additional 766 shares in the last quarter. Sterling Capital Management LLC increased its position in shares of Fresh Del Monte Produce by 795.0% during the fourth quarter. Sterling Capital Management LLC now owns 1,083 shares of the company's stock worth $36,000 after purchasing an additional 962 shares in the last quarter. McIlrath & Eck LLC acquired a new position in shares of Fresh Del Monte Produce during the fourth quarter worth $48,000. Finally, State of Wyoming acquired a new position in shares of Fresh Del Monte Produce during the fourth quarter worth $54,000. Institutional investors 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.