Marissa R. Tenazas Sells 1,148 Shares of Fresh Del Monte Produce Inc. (NYSE:FDP) Stock

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

Fresh Del Monte Produce Price Performance

Fresh Del Monte Produce stock traded down $0.03 during trading hours on Thursday, hitting $31.34. 283,363 shares of the company traded hands, compared to its average volume of 296,882. The firm’s 50-day simple moving average is $30.49 and its two-hundred day simple moving average is $31.29. The company has a quick ratio of 1.04, a current ratio of 2.09 and a debt-to-equity ratio of 0.14. The firm has a market cap of $1.50 billion, a P/E ratio of 94.98 and a beta of 0.33. Fresh Del Monte Produce Inc. has a 1-year low of $21.23 and a 1-year high of $35.27.

Fresh Del Monte Produce (NYSE:FDP) last posted its quarterly earnings data on Monday, February 24th. The company reported $0.26 EPS for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.16). The firm had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $1.14 billion. Fresh Del Monte Produce had a net margin of 0.36% and a return on equity of 5.91%. Fresh Del Monte Produce’s quarterly revenue was up .5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.25 earnings per share.

Fresh Del Monte Produce Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Monday, March 10th were paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 3.83%. The ex-dividend date was Monday, March 10th. This is a positive change from Fresh Del Monte Produce’s previous quarterly dividend of $0.25. Fresh Del Monte Produce’s payout ratio is presently 40.40%.

Fresh Del Monte Produce declared that its board has initiated a share repurchase plan on Monday, February 24th that permits the company to repurchase $150.00 million in outstanding shares. This repurchase authorization permits the company to repurchase up to 10.4% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

Analysts Set New Price Targets

Separately, StockNews.com lowered shares of Fresh Del Monte Produce from a “buy” rating to a “hold” rating in a report on Tuesday, March 25th.

Hedge Funds Weigh In On Fresh Del Monte Produce

A number of institutional investors have recently made changes to their positions in the business. Public Employees Retirement System of Ohio acquired a new position in Fresh Del Monte Produce in the 4th quarter valued at approximately $350,000. McIlrath & Eck LLC bought a new position in Fresh Del Monte Produce in the fourth quarter worth $48,000. Teza Capital Management LLC lifted its position in Fresh Del Monte Produce by 99.6% in the fourth quarter. Teza Capital Management LLC now owns 16,989 shares of the company’s stock worth $564,000 after purchasing an additional 8,476 shares during the period. State of Wyoming bought a new stake in Fresh Del Monte Produce in the 4th quarter valued at $54,000. Finally, ProShare Advisors LLC raised its stake in shares of Fresh Del Monte Produce by 44.5% in the 4th quarter. ProShare Advisors LLC now owns 10,182 shares of the company’s stock valued at $338,000 after buying an additional 3,135 shares in the last quarter. 64.83% of the stock is currently 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.