Insider Sell: Tarek Betti Sells 420 Shares of Fresh Del Monte Produce Inc
On August 8, 2023, Tarek Betti, the Chief Human Resources Officer of Fresh Del Monte Produce Inc (NYSE:FDP), sold 420 shares of the company. This move is part of a broader trend of insider selling at the company over the past year.
Who is Tarek Betti?
Tarek Betti is the Chief Human Resources Officer at Fresh Del Monte Produce Inc. He has been with the company for several years and has played a crucial role in shaping the company's human resources strategy. Over the past year, Betti has sold a total of 1,523 shares and has not made any purchases.
About Fresh Del Monte Produce Inc
Fresh Del Monte Produce Inc is a leading global producer, marketer, and distributor of fresh and fresh-cut fruits and vegetables. The company also produces and distributes prepared fruits and vegetables, juices, beverages, and snacks. Fresh Del Monte Produce Inc operates in more than 60 countries worldwide and is committed to delivering high-quality fresh produce to consumers around the globe.
Insider Sell Analysis
The insider transaction history for Fresh Del Monte Produce Inc shows a trend of more insider sells than buys over the past year. There have been 30 insider sells and 3 insider buys in total. This could indicate that insiders believe the stock is currently overvalued, leading them to sell their shares.
On the day of Betti's recent sell, shares of Fresh Del Monte Produce Inc were trading for $28.18 apiece, giving the stock a market cap of $1.33 billion. The price-earnings ratio is 9.62, which is lower than both the industry median of 20.04 and the company's historical median price-earnings ratio. This suggests that the stock is undervalued when compared to its peers and its own historical valuation.
GF Value Analysis
The GuruFocus Value (GF Value) of Fresh Del Monte Produce Inc is $27.30, resulting in a price-to-GF-Value ratio of 1.03. This indicates that the stock is fairly valued based on its GF Value. The GF Value is an intrinsic value estimate developed by GuruFocus, calculated based on historical multiples, a GuruFocus adjustment factor, and future business performance estimates from Morningstar analysts.
In conclusion, while the recent insider sell by Tarek Betti may raise some eyebrows, the valuation metrics suggest that Fresh Del Monte Produce Inc's stock is fairly valued. Investors should keep an eye on the company's future performance and any further insider transactions to make informed investment decisions.
This article first appeared on GuruFocus.
