Fresh Del Monte Produce (NYSE:FDP) Posts Quarterly Earnings Results, Beats Expectations By $0.30 EPS

Fresh Del Monte Produce (NYSE:FDP) issued its quarterly earnings data on Thursday. The company reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.30, Briefing.com reports. The firm had revenue of $1.02 billion for the quarter, compared to analyst estimates of $989.45 million. Fresh Del Monte Produce had a net margin of 0.36% and a return on equity of 5.91%. The company’s revenue for the quarter was up 1.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.35 earnings per share.

Fresh Del Monte Produce Stock Performance

Shares of NYSE FDP opened at $31.66 on Friday. The business’s 50-day simple moving average is $29.25 and its 200-day simple moving average is $25.91. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.07 and a current ratio of 2.09. Fresh Del Monte Produce has a 52 week low of $21.23 and a 52 week high of $33.60. The firm has a market cap of $1.52 billion, a price-to-earnings ratio of 95.94 and a beta of 0.40.

Fresh Del Monte Produce Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Thursday, November 14th will be given a $0.25 dividend. The ex-dividend date is Thursday, November 14th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.16%. Fresh Del Monte Produce’s dividend payout ratio is currently 303.04%.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

In other Fresh Del Monte Produce news, VP Reyes Jorge Pelaez sold 5,417 shares of the stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $27.75, for a total transaction of $150,321.75. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, CFO Monica Vicente sold 1,800 shares of Fresh Del Monte Produce stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $27.44, for a total value of $49,392.00. Following the transaction, the chief financial officer now directly owns 3,466 shares in the company, valued at approximately $95,107.04. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Reyes Jorge Pelaez sold 5,417 shares of the stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $27.75, for a total value of $150,321.75. The disclosure for this sale can be found here. In the last ninety days, insiders sold 10,915 shares of company stock worth $301,603. 30.10% of the stock is currently owned by insiders.

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.