Fresh Del Monte Produce Inc. (NYSE:FDP) SVP Sells $35,645.40 in Stock

Fresh Del Monte Produce Inc. (NYSE:FDP - Get Free Report) SVP Marissa R. Tenazas sold 1,148 shares of the business's stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $31.05, for a total transaction of $35,645.40. Following the transaction, the senior vice president now directly owns 3,573 shares in the company, valued at approximately $110,941.65. The trade was a 24.32 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Fresh Del Monte Produce Price Performance

Shares of Fresh Del Monte Produce stock traded down $0.26 on Tuesday, hitting $29.66. The company's stock had a trading volume of 337,305 shares, compared to its average volume of 299,913. The company has a market capitalization of $1.42 billion, a P/E ratio of 89.88 and a beta of 0.36. Fresh Del Monte Produce Inc. has a 52-week low of $21.23 and a 52-week high of $35.27. The firm has a fifty day moving average price of $30.37 and a 200-day moving average price of $31.32. The company has a quick ratio of 1.04, a current ratio of 2.09 and a debt-to-equity ratio of 0.14.

Fresh Del Monte Produce (NYSE:FDP - Get Free Report) last released its quarterly earnings results on Monday, February 24th. The company reported $0.26 EPS for the quarter, missing the consensus estimate of $0.42 by ($0.16). Fresh Del Monte Produce had a net margin of 0.36% and a return on equity of 5.91%. The business had revenue of $1.01 billion during the quarter, compared to analyst estimates of $1.14 billion. During the same quarter in the prior year, the company earned $0.25 earnings per share. The firm's revenue for the quarter was up .5% compared to the same quarter last year.

Fresh Del Monte Produce Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Monday, March 10th were issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 4.05%. This is a boost from Fresh Del Monte Produce's previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Monday, March 10th. Fresh Del Monte Produce's payout ratio is 40.40%.

Fresh Del Monte Produce announced that its board has initiated a stock buyback program on Monday, February 24th that permits the company to buyback $150.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 10.4% of its shares through open market purchases. Shares buyback programs are often a sign that the company's board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut Fresh Del Monte Produce from a "buy" rating to a "hold" rating in a report on Tuesday, March 25th.

Institutional Investors Weigh In On Fresh Del Monte Produce

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Intech Investment Management LLC purchased a new stake in Fresh Del Monte Produce in the 3rd quarter worth approximately $375,000. Charles Schwab Investment Management Inc. grew its position in shares of Fresh Del Monte Produce by 5.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,060,576 shares of the company's stock valued at $31,329,000 after purchasing an additional 59,521 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Fresh Del Monte Produce by 25.2% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 165,098 shares of the company's stock valued at $4,877,000 after purchasing an additional 33,276 shares during the last quarter. Walleye Capital LLC lifted its position in Fresh Del Monte Produce by 190.7% during the third quarter. Walleye Capital LLC now owns 28,159 shares of the company's stock worth $832,000 after buying an additional 18,471 shares during the period. Finally, Verition Fund Management LLC boosted its stake in Fresh Del Monte Produce by 35.1% in the 3rd quarter. Verition Fund Management LLC now owns 19,676 shares of the company's stock worth $581,000 after buying an additional 5,113 shares during the last quarter. 64.83% of the stock is currently owned by hedge funds and other institutional investors.

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.