Fresh Del Monte Produce (NYSE:FDP) Announces Quarterly Earnings Results

Fresh Del Monte Produce (NYSE:FDP) announced its quarterly earnings results on Thursday. The company reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.30, Briefing.com reports. The company had revenue of $1.02 billion for the quarter, compared to analyst estimates of $989.45 million. Fresh Del Monte Produce had a negative net margin of 0.43% and a positive return on equity of 4.87%. The firm’s revenue was up 1.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.35 EPS.

Fresh Del Monte Produce Trading Up 0.2 %

Shares of NYSE FDP traded up $0.05 during midday trading on Friday, reaching $32.16. The stock had a trading volume of 48,602 shares, compared to its average volume of 247,668. The firm has a market cap of $1.54 billion, a price-to-earnings ratio of -84.54 and a beta of 0.41. Fresh Del Monte Produce has a twelve month low of $21.23 and a twelve month high of $33.60. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.07 and a current ratio of 2.08. The company’s 50 day moving average price is $29.10 and its 200 day moving average price is $25.82.

Fresh Del Monte Produce Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Thursday, November 14th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 3.11%. The ex-dividend date is Thursday, November 14th. Fresh Del Monte Produce’s payout ratio is -263.16%.

Insider Transactions at Fresh Del Monte Produce

In other Fresh Del Monte Produce news, Director Mary Ann Cloyd sold 1,689 shares of the stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $27.20, for a total value of $45,940.80. Following the transaction, the director now owns 22,188 shares in the company, valued at approximately $603,513.60. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Fresh Del Monte Produce news, VP Reyes Jorge Pelaez sold 5,417 shares of the firm’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $27.75, for a total value of $150,321.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Mary Ann Cloyd sold 1,689 shares of the firm’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $27.20, for a total value of $45,940.80. Following the completion of the sale, the director now directly owns 22,188 shares of the company’s stock, valued at $603,513.60. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 10,915 shares of company stock worth $301,603. Company insiders own 30.10% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com raised shares of Fresh Del Monte Produce from a “hold” rating to a “buy” rating in a report on Monday, August 5th.

Fresh Del Monte Produce Company Profile

Fresh Del Monte Produce Inc, through its subsidiaries, produces, markets, and distributes fresh and fresh-cut fruits and vegetables in North America, Central America, South America, Europe, the Middle East, Africa, Asia, and internationally. It operates through three segments: Fresh and Value-Added Products, Banana, and Other Products and Services.