Marissa Tenazas Sells 1,046 Shares of Fresh Del Monte Produce (NYSE:FDP) Stock

Fresh Del Monte Produce, Inc. (NYSE:FDP) SVP Marissa Tenazas sold 1,046 shares of the firm’s stock in a transaction on Thursday, April 2nd. The shares were sold at an average price of $40.40, for a total transaction of $42,258.40. Following the completion of the transaction, the senior vice president directly owned 8,050 shares of the company’s stock, valued at $325,220. This represents a 11.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Fresh Del Monte Produce Trading Down 0.1%

Shares of FDP stock opened at $41.23 on Friday. The stock has a 50 day simple moving average of $40.94 and a 200 day simple moving average of $37.59. The stock has a market cap of $1.95 billion, a P/E ratio of 21.93 and a beta of 0.28. The company has a current ratio of 2.16, a quick ratio of 1.06 and a debt-to-equity ratio of 0.09. Fresh Del Monte Produce, Inc. has a 1 year low of $29.03 and a 1 year high of $43.58.

Fresh Del Monte Produce (NYSE:FDP) last announced its quarterly earnings results on Thursday, February 19th. The company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.42. The company had revenue of $968.20 million for the quarter, compared to analyst estimates of $1.01 billion. Fresh Del Monte Produce had a net margin of 2.10% and a return on equity of 7.63%. The firm’s revenue was up .6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.26 EPS.

Fresh Del Monte Produce Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 27th. Investors of record on Wednesday, March 4th were given a dividend of $0.30 per share. The ex-dividend date was Wednesday, March 4th. This represents a $1.20 dividend on an annualized basis and a yield of 2.9%. Fresh Del Monte Produce’s payout ratio is currently 63.83%.

Analysts Set New Price Targets

FDP has been the topic of a number of recent research reports. Weiss Ratings raised Fresh Del Monte Produce from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, February 23rd. Wall Street Zen upgraded shares of Fresh Del Monte Produce from a “hold” rating to a “buy” rating in a report on Saturday, February 21st. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the company presently has an average rating of “Buy”.

Hedge Funds Weigh In On Fresh Del Monte Produce

A number of hedge funds have recently made changes to their positions in FDP. Geneos Wealth Management Inc. lifted its stake in shares of Fresh Del Monte Produce by 26.1% in the fourth quarter. Geneos Wealth Management Inc. now owns 1,450 shares of the company’s stock worth $52,000 after acquiring an additional 300 shares during the period. State of Alaska Department of Revenue raised its holdings in Fresh Del Monte Produce by 1.6% during the 4th quarter. State of Alaska Department of Revenue now owns 18,832 shares of the company’s stock worth $670,000 after purchasing an additional 302 shares during the last quarter. HighTower Advisors LLC raised its holdings in Fresh Del Monte Produce by 5.2% during the 4th quarter. HighTower Advisors LLC now owns 9,982 shares of the company’s stock worth $356,000 after purchasing an additional 489 shares during the last quarter. Outfitters Financial LLC lifted its position in shares of Fresh Del Monte Produce by 1.5% in the 4th quarter. Outfitters Financial LLC now owns 33,145 shares of the company’s stock worth $1,181,000 after purchasing an additional 500 shares during the period. Finally, Russell Investments Group Ltd. lifted its position in shares of Fresh Del Monte Produce by 0.7% in the 4th quarter. Russell Investments Group Ltd. now owns 71,447 shares of the company’s stock worth $2,546,000 after purchasing an additional 514 shares during the period. 64.83% of the stock is currently owned by institutional investors.

Fresh Del Monte Produce Company Profile

Fresh Del Monte Produce Inc is a leading producer, marketer and distributor of fresh and fresh-cut fruits and vegetables worldwide. The company offers a wide range of products including bananas, pineapples, melons, grapes and avocados, along with value-added items such as fruit salads, vegetable trays and snack packs under the Del Monte® brand.

Founded in 1989 as a spin-off from Del Monte, Fresh Del Monte has developed a global supply chain that spans production farms, ripening facilities and packaging centers across Latin America, North America, Europe, Asia and Africa.