Ahmad Abu-Ghazaleh Buys 4,000 Shares of Fresh Del Monte Produce (NYSE:FDP) Stock

Fresh Del Monte Produce, Inc. (NYSE:FDP) Director Ahmad Abu-Ghazaleh bought 4,000 shares of Fresh Del Monte Produce stock in a transaction dated Thursday, June 11th. The stock was acquired at an average cost of $29.41 per share, for a total transaction of $117,640.00. Following the completion of the transaction, the director directly owned 4,000 shares in the company, valued at approximately $117,640. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Fresh Del Monte Produce Stock Down 1.1%

Shares of NYSE:FDP traded down $0.32 during midday trading on Monday, reaching $28.83. The company’s stock had a trading volume of 308,226 shares, compared to its average volume of 331,955. The firm has a 50 day moving average of $36.45 and a 200-day moving average of $38.03. The firm has a market capitalization of $1.37 billion, a P/E ratio of 19.88 and a beta of 0.22. The company has a quick ratio of 1.10, a current ratio of 2.34 and a debt-to-equity ratio of 0.22. Fresh Del Monte Produce, Inc. has a 12-month low of $28.13 and a 12-month high of $43.58.

Fresh Del Monte Produce (NYSE:FDP) last released its earnings results on Wednesday, May 6th. The company reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.62 by $0.01. Fresh Del Monte Produce had a net margin of 1.63% and a return on equity of 7.61%. The firm had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.03 billion. During the same period in the prior year, the firm earned $0.63 EPS. The company’s revenue was down 4.9% compared to the same quarter last year.

Fresh Del Monte Produce Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 11th. Investors of record on Tuesday, May 19th were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 4.2%. The ex-dividend date of this dividend was Tuesday, May 19th. Fresh Del Monte Produce’s dividend payout ratio is 82.76%.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Wall Street Zen downgraded shares of Fresh Del Monte Produce from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Weiss Ratings downgraded shares of Fresh Del Monte Produce from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, May 11th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat.com, the company currently has a consensus rating of “Hold”.

Hedge Funds Weigh In On Fresh Del Monte Produce

Several hedge funds and other institutional investors have recently bought and sold shares of FDP. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Fresh Del Monte Produce by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,090 shares of the company’s stock valued at $619,000 after acquiring an additional 879 shares during the period. Millennium Management LLC lifted its stake in Fresh Del Monte Produce by 1,647.2% during the 1st quarter. Millennium Management LLC now owns 596,496 shares of the company’s stock valued at $18,390,000 after acquiring an additional 562,356 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Fresh Del Monte Produce by 10.7% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 94,910 shares of the company’s stock valued at $2,926,000 after acquiring an additional 9,202 shares during the period. Jane Street Group LLC lifted its stake in Fresh Del Monte Produce by 2,889.0% during the 1st quarter. Jane Street Group LLC now owns 122,716 shares of the company’s stock valued at $3,783,000 after acquiring an additional 127,116 shares during the period. Finally, Prudential Financial Inc. lifted its stake in Fresh Del Monte Produce by 25.4% during the 2nd quarter. Prudential Financial Inc. now owns 9,016 shares of the company’s stock valued at $292,000 after acquiring an additional 1,829 shares during the period. Institutional investors own 64.83% of the company’s stock.

About Fresh Del Monte Produce

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.