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 on Wednesday, April 2nd. The stock was sold at an average price of $31.05, for a total value of $35,645.40. Following the transaction, the senior vice president now owns 3,573 shares of the company’s stock, valued at $110,941.65. The trade was a 24.32 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Fresh Del Monte Produce Stock Down 2.6 %

Fresh Del Monte Produce stock opened at $30.57 on Friday. The firm has a 50 day simple moving average of $30.48 and a 200 day simple moving average of $31.30. The company has a current ratio of 2.09, a quick ratio of 1.04 and a debt-to-equity ratio of 0.14. Fresh Del Monte Produce Inc. has a 1-year low of $21.23 and a 1-year high of $35.27. The firm has a market capitalization of $1.47 billion, a price-to-earnings ratio of 92.64 and a beta of 0.36.

Fresh Del Monte Produce (NYSE:FDP) last announced its quarterly earnings results on Monday, February 24th. The company reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.42 by ($0.16). The company had revenue of $1.01 billion during 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 revenue for the quarter was up .5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.25 earnings per share.

Fresh Del Monte Produce announced that its board has authorized a share 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 reacquire up to 10.4% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its stock is undervalued.

Fresh Del Monte Produce Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Monday, March 10th were given a $0.30 dividend. This is a positive change from Fresh Del Monte Produce’s previous quarterly dividend of $0.25. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.93%. The ex-dividend date of this dividend was Monday, March 10th. Fresh Del Monte Produce’s dividend payout ratio (DPR) is 40.40%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Pacer Advisors Inc. purchased a new position in shares of Fresh Del Monte Produce during the fourth quarter worth about $42,522,000. Advisors Preferred LLC purchased a new position in Fresh Del Monte Produce in the 4th quarter worth approximately $7,459,000. American Century Companies Inc. increased its holdings in shares of Fresh Del Monte Produce by 22.0% in the 4th quarter. American Century Companies Inc. now owns 950,108 shares of the company’s stock worth $31,553,000 after buying an additional 171,574 shares during the last quarter. Invesco Ltd. raised its position in shares of Fresh Del Monte Produce by 21.7% during the 4th quarter. Invesco Ltd. now owns 919,612 shares of the company’s stock valued at $30,540,000 after buying an additional 164,120 shares in the last quarter. Finally, Vanguard Group Inc. lifted its holdings in shares of Fresh Del Monte Produce by 2.8% during the 4th quarter. Vanguard Group Inc. now owns 4,809,451 shares of the company’s stock worth $159,722,000 after acquiring an additional 133,122 shares during the last quarter. 64.83% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

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.