Fresh Del Monte Produce Inc (NYSE:FDP) VP Gianpaolo Renino sold 600 shares of Fresh Del Monte Produce stock in a transaction that occurred on Friday, March 16th. The stock was sold at an average price of $46.69, for a total value of $28,014.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
FDP stock opened at $46.89 on Wednesday. The company has a quick ratio of 1.21, a current ratio of 2.59 and a debt-to-equity ratio of 0.20. The company has a market capitalization of $2,292.68, a P/E ratio of 19.87 and a beta of 0.43. Fresh Del Monte Produce Inc has a 1 year low of $43.02 and a 1 year high of $61.98.
Fresh Del Monte Produce (NYSE:FDP) last released its quarterly earnings data on Tuesday, February 20th. The company reported ($0.08) earnings per share (EPS) for the quarter. The firm had revenue of $953.70 million for the quarter, compared to the consensus estimate of $925.00 million. Fresh Del Monte Produce had a net margin of 2.96% and a return on equity of 6.70%. The business’s revenue for the quarter was down .1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.26 earnings per share.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 30th. Stockholders of record on Wednesday, March 7th will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.28%. The ex-dividend date is Tuesday, March 6th. Fresh Del Monte Produce’s dividend payout ratio is presently 25.42%.
Fresh Del Monte Produce announced that its board has initiated a share repurchase plan on Wednesday, February 21st that permits the company to buyback $300.00 million in outstanding shares. This buyback authorization permits the company to purchase shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s management believes its stock is undervalued.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Amalgamated Bank acquired a new stake in Fresh Del Monte Produce in the 4th quarter valued at $207,000. ETRADE Capital Management LLC acquired a new stake in Fresh Del Monte Produce in the 3rd quarter valued at $213,000. Cubist Systematic Strategies LLC acquired a new stake in Fresh Del Monte Produce in the 3rd quarter valued at $240,000. Ramsey Quantitative Systems acquired a new stake in Fresh Del Monte Produce in the 4th quarter valued at $260,000. Finally, Ellington Management Group LLC acquired a new stake in Fresh Del Monte Produce in the 4th quarter valued at $296,000. Institutional investors and hedge funds own 65.93% of the company’s stock.
COPYRIGHT VIOLATION NOTICE: This story was first published by The Ledger Gazette and is owned by of The Ledger Gazette. If you are accessing this story on another site, it was copied illegally and reposted in violation of U.S. and international copyright & trademark law. The original version of this story can be viewed at https://ledgergazette.com/2018/03/21/fresh-del-monte-produce-inc-fdp-vp-gianpaolo-renino-sells-600-shares-of-stock.html.
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.
Receive News & Ratings for Fresh Del Monte Produce Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fresh Del Monte Produce and related companies with MarketBeat.com's FREE daily email newsletter.