Fresh Del Monte Produce (NYSE:FDP) CEO Sells $277,320.75 in 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 the firm's stock in a transaction dated Thursday, August 14th. The shares were 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 directly owned 5,040,782 shares in the company, valued at $184,543,029.02. This trade represents a 0.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Wednesday, August 6th, Ghazaleh Mohammad Abu sold 50,000 shares of Fresh Del Monte Produce stock. The shares were sold at an average price of $35.92, for a total value of $1,796,000.00.
• On Tuesday, August 12th, Ghazaleh Mohammad Abu sold 20,000 shares of Fresh Del Monte Produce stock. The shares were 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 Down 1.2%

NYSE:FDP traded down $0.4520 during trading hours on Wednesday, hitting $36.1480. The stock had a trading volume of 444,442 shares, compared to its average volume of 386,455. The company has a market cap of $1.73 billion, a PE ratio of 11.59 and a beta of 0.42. The business has a 50 day simple moving average of $34.52 and a two-hundred day simple moving average of $32.72. 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 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 posted its earnings results on Wednesday, July 30th. The company reported $1.23 EPS for the quarter, topping analysts' consensus estimates of $0.95 by $0.28. The business 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%. The business's revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period in the previous year, the company posted $1.06 earnings per share.

Fresh Del Monte Produce Dividend Announcement

The firm also recently announced 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. 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 (DPR) is currently 38.46%.

Analysts Set New Price Targets

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.

Institutional Investors Weigh In On Fresh Del Monte Produce

Several hedge funds and other institutional investors have recently modified their holdings of the stock. LPL Financial LLC bought a new position in shares of Fresh Del Monte Produce during the fourth quarter worth about $434,000. Geode Capital Management LLC raised its stake in Fresh Del Monte Produce by 0.4% during the fourth quarter. Geode Capital Management LLC now owns 776,161 shares of the company's stock valued at $25,782,000 after buying an additional 3,045 shares in the last quarter. Wells Fargo & Company MN lifted its holdings in Fresh Del Monte Produce by 36.0% during the 4th 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. Bank of Montreal Can grew its position 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 worth $321,000 after acquiring an additional 666 shares in the last quarter. Finally, Invesco Ltd. increased its holdings in shares of Fresh Del Monte Produce by 21.7% in the 4th quarter. Invesco Ltd. now owns 919,612 shares of the company's stock valued at $30,540,000 after acquiring an additional 164,120 shares during the last quarter. 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.