Ziad Nabulsi Sells 1,000 Shares of Fresh Del Monte Produce, Inc. (NYSE:FDP) Stock

Key Points

• Ziad Nabulsi, SVP of Fresh Del Monte Produce, sold 1,000 shares at an average price of $35.95, decreasing his position by 8.70% to a total of 10,498 shares.
• The company recently reported quarterly earnings with an EPS of $1.23, exceeding estimates, alongside a year-over-year revenue increase of 3.8%.
• Fresh Del Monte Produce declared a quarterly dividend of $0.30 per share to be paid on September 5th, with a current annualized dividend yield of 3.3%.

Fresh Del Monte Produce, Inc. (NYSE:FDP - Get Free Report) SVP Ziad Nabulsi sold 1,000 shares of Fresh Del Monte Produce stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $35.95, for a total value of $35,950.00. Following the transaction, the senior vice president owned 10,498 shares of the company's stock, valued at $377,403.10. The trade was a 8.70% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Fresh Del Monte Produce Trading Up 1.1%

FDP stock traded up $0.41 during midday trading on Monday, hitting $36.91. The stock had a trading volume of 23,065 shares, compared to its average volume of 378,493. The firm has a market cap of $1.77 billion, a P/E ratio of 11.81 and a beta of 0.42. 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 business has a fifty day moving average price of $34.05 and a two-hundred day moving average price of $32.46.

Fresh Del Monte Produce (NYSE:FDP - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The company reported $1.23 earnings per share for the quarter, beating the consensus estimate 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 net margin of 3.49% and a return on equity of 6.84%. The business's quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.06 earnings per share.

Fresh Del Monte Produce Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 5th. Stockholders of record on Wednesday, August 13th will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date of this dividend is Wednesday, August 13th. Fresh Del Monte Produce's dividend payout ratio is currently 38.46%.

Analyst Ratings Changes

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of FDP. Millennium Management LLC boosted its position in Fresh Del Monte Produce by 1,647.2% during the first quarter. Millennium Management LLC now owns 596,496 shares of the company's stock valued at $18,390,000 after buying an additional 562,356 shares during the period. Allianz Asset Management GmbH boosted its holdings in Fresh Del Monte Produce by 88.9% in the second quarter. Allianz Asset Management GmbH now owns 712,931 shares of the company's stock worth $23,113,000 after purchasing an additional 335,619 shares during the last quarter. Hennessy Advisors Inc. purchased a new position in shares of Fresh Del Monte Produce during the 2nd quarter worth $9,254,000. LSV Asset Management boosted its stake in shares of Fresh Del Monte Produce by 68.8% during the 1st quarter. LSV Asset Management now owns 580,018 shares of the company's stock worth $17,882,000 after acquiring an additional 236,476 shares during the last quarter. Finally, Cubist Systematic Strategies LLC bought a new stake in shares of Fresh Del Monte Produce during the 1st quarter valued at $6,523,000. 64.83% of the stock is owned by 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.