Fresh Del Monte Produce Inc (NYSE:FDP) VP Gianpaolo Renino sold 600 shares of the business’s stock in a transaction on Friday, March 16th. The shares were sold at an average price of $46.69, for a total transaction of $28,014.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.
Fresh Del Monte Produce Inc (NYSE FDP) traded down $0.10 on Tuesday, reaching $46.89. 443,883 shares of the company’s stock traded hands, compared to its average volume of 247,650. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.21 and a current ratio of 2.59. Fresh Del Monte Produce Inc has a 1 year low of $43.02 and a 1 year high of $61.98. The firm has a market capitalization of $2,313.66, a P/E ratio of 19.91 and a beta of 0.43.
Fresh Del Monte Produce (NYSE:FDP) last released its quarterly earnings data on Tuesday, February 20th. The company reported ($0.08) earnings per share for the quarter. Fresh Del Monte Produce had a return on equity of 6.70% and a net margin of 2.96%. The business had revenue of $953.70 million for the quarter, compared to analyst estimates of $925.00 million. During the same quarter in the previous year, the company posted $0.26 EPS. The business’s quarterly revenue was down .1% on a year-over-year basis.
The company also recently announced a quarterly dividend, which will be paid on Friday, March 30th. Stockholders of record on Wednesday, March 7th will be issued a $0.15 dividend. The ex-dividend date is Tuesday, March 6th. This represents a $0.60 annualized dividend and a dividend yield of 1.28%. Fresh Del Monte Produce’s dividend payout ratio is currently 25.42%.
Fresh Del Monte Produce declared that its board has authorized a stock buyback plan on Wednesday, February 21st that authorizes the company to buyback $300.00 million in shares. This buyback authorization authorizes the company to reacquire shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.
Large investors have recently modified their holdings of the business. Amalgamated Bank bought a new position in Fresh Del Monte Produce during the fourth quarter worth about $207,000. ETRADE Capital Management LLC bought a new position in Fresh Del Monte Produce during the third quarter worth about $213,000. Cubist Systematic Strategies LLC bought a new position in Fresh Del Monte Produce during the third quarter worth about $240,000. Ramsey Quantitative Systems bought a new position in Fresh Del Monte Produce during the fourth quarter worth about $260,000. Finally, Ellington Management Group LLC bought a new position in Fresh Del Monte Produce during the fourth quarter worth about $296,000. Hedge funds and other institutional investors own 65.93% of the company’s stock.
About Fresh Del Monte Produce
Fresh Del Monte Produce Inc is a holding company. The Company, through its subsidiaries, is engaged in sourcing, transportation and marketing of fresh and fresh-cut produce together with prepared food products in Europe, Africa and the Middle East. Its operations are aggregated into business segments on the basis of its products: bananas, other fresh produce and prepared food.
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