Fresh Del Monte Produce (NYSE:FDP) Chairman Mohammad Abu-Ghazaleh sold 20,000 shares of the firm’s stock in a transaction on Friday, May 18th. The shares were sold at an average price of $46.26, for a total transaction of $925,200.00. Following the completion of the transaction, the chairman now directly owns 5,356,410 shares of the company’s stock, valued at $247,787,526.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.
NYSE FDP traded up $0.09 on Monday, hitting $46.46. 6,521 shares of the stock were exchanged, compared to its average volume of 210,064. The company has a quick ratio of 1.30, a current ratio of 2.52 and a debt-to-equity ratio of 0.43. The firm has a market capitalization of $2.26 billion, a price-to-earnings ratio of 19.00 and a beta of 0.44. Fresh Del Monte Produce has a 52-week low of $43.02 and a 52-week high of $53.71.
Fresh Del Monte Produce (NYSE:FDP) last posted its quarterly earnings data on Tuesday, May 1st. The company reported $0.88 EPS for the quarter, missing the consensus estimate of $0.91 by ($0.03). The firm had revenue of $1.11 billion for the quarter, compared to analysts’ expectations of $1.28 billion. Fresh Del Monte Produce had a return on equity of 6.70% and a net margin of 2.79%. The firm’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.84 earnings per share.
Fresh Del Monte Produce declared that its board has approved a stock repurchase program on Wednesday, February 21st that permits the company to buyback $300.00 million in shares. This buyback authorization permits the company to repurchase shares of its stock through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.
Separately, TheStreet raised shares of Fresh Del Monte Produce from a “c+” rating to a “b+” rating in a report on Tuesday, May 1st.
A number of hedge funds and other institutional investors have recently bought and sold shares of FDP. Amalgamated Bank purchased a new position in Fresh Del Monte Produce during the fourth quarter worth $207,000. Jane Street Group LLC purchased a new position in Fresh Del Monte Produce during the first quarter worth $216,000. Xact Kapitalforvaltning AB purchased a new position in Fresh Del Monte Produce during the first quarter worth $219,000. SG Americas Securities LLC purchased a new position in Fresh Del Monte Produce during the first quarter worth $235,000. Finally, Ramsey Quantitative Systems purchased a new position in Fresh Del Monte Produce during the fourth quarter worth $260,000. 62.61% of the stock is 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 worldwide. It offers fresh produce products consisting of bananas, pineapples, melons, tomatoes, grapes, apples, pears, peaches, plums, nectarines, cherries, citrus, avocados, blueberries, strawberries, and kiwi; various vegetables, including potatoes, onions, bell peppers, and cucumbers; and various other fruits, such as plantains and mangos.
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