Insider Selling: Fresh Del Monte Produce, Inc. (NYSE:FDP) SVP Sells 1,315 Shares of Stock

Key Points

• Fresh Del Monte Produce SVP Effie D. Silva sold 1,315 shares for approximately $49,365, reducing her ownership in the company by 15.13%.
• The company reported $1.18 billion in revenue for the last quarter, surpassing analysts' expectations and reflecting a 3.8% year-over-year increase.
• Fresh Del Monte Produce declared a quarterly dividend of $0.30, yielding 3.3% annually, with payment scheduled for September 5th.

Fresh Del Monte Produce, Inc. (NYSE:FDP - Get Free Report) SVP Effie D. Silva sold 1,315 shares of the firm's stock in a transaction on Monday, August 4th. The shares were sold at an average price of $37.54, for a total value of $49,365.10. Following the transaction, the senior vice president directly owned 7,377 shares in the company, valued at $276,932.58. This trade represents a 15.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link.

Fresh Del Monte Produce Price Performance

NYSE:FDP traded up $0.43 during mid-day trading on Friday, reaching $36.49. 237,532 shares of the stock were exchanged, compared to its average volume of 375,999. The business has a fifty day moving average price of $34.05 and a 200 day moving average price of $32.45. The firm has a market capitalization of $1.75 billion, a PE ratio of 11.70 and a beta of 0.42. 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 released its earnings results on Wednesday, July 30th. The company reported $1.23 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.95 by $0.28. The firm had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.16 billion. Fresh Del Monte Produce had a return on equity of 6.84% and a net margin of 3.49%. Fresh Del Monte Produce'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 Dividend Announcement

The company also recently announced 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. This represents a $1.20 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date of this dividend is Wednesday, August 13th. Fresh Del Monte Produce's payout ratio is presently 38.46%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. LPL Financial LLC acquired a new position in shares of Fresh Del Monte Produce in the 4th quarter valued at $434,000. Franklin Resources Inc. boosted its position in shares of Fresh Del Monte Produce by 60.6% in the 4th quarter. Franklin Resources Inc. now owns 58,962 shares of the company's stock valued at $1,958,000 after purchasing an additional 22,252 shares during the period. Geode Capital Management LLC boosted its position in shares of Fresh Del Monte Produce by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 776,161 shares of the company's stock valued at $25,782,000 after purchasing an additional 3,045 shares during the period. Wells Fargo & Company MN boosted its position in shares of Fresh Del Monte Produce by 36.0% in the 4th quarter. Wells Fargo & Company MN now owns 36,565 shares of the company's stock valued at $1,214,000 after purchasing an additional 9,673 shares during the period. Finally, Polymer Capital Management US LLC acquired a new position in shares of Fresh Del Monte Produce in the 4th quarter valued at $242,000. 64.83% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen raised 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.