Fresh Del Monte Produce Inc. Plans Quarterly Dividend of $0.25 (NYSE:FDP)

Fresh Del Monte Produce Inc. (NYSE:FDP) declared a quarterly dividend on Tuesday, October 29th,Zacks Dividends reports. Investors of record on Thursday, November 14th will be given a dividend of 0.25 per share on Friday, December 6th. This represents a $1.00 annualized dividend and a dividend yield of 2.90%. The ex-dividend date of this dividend is Thursday, November 14th.

Fresh Del Monte Produce has raised its dividend by an average of 35.7% per year over the last three years. Fresh Del Monte Produce has a payout ratio of 34.7% indicating that its dividend is sufficiently covered by earnings.

Fresh Del Monte Produce Trading Up 0.7 %

FDP stock opened at $34.51 on Tuesday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.04 and a current ratio of 2.09. The company’s 50-day simple moving average is $29.82 and its 200 day simple moving average is $26.27. Fresh Del Monte Produce has a 52 week low of $21.23 and a 52 week high of $34.65. The company has a market capitalization of $1.65 billion, a PE ratio of 104.58 and a beta of 0.41.

Fresh Del Monte Produce (NYSE:FDP) last announced its quarterly earnings data on Thursday, October 31st. The company reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.47 by $0.30. The firm had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $989.45 million. Fresh Del Monte Produce had a net margin of 0.36% and a return on equity of 5.91%. The business’s revenue for the quarter was up 1.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.35 earnings per share.

Wall Street Analyst Weigh In

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.

Insiders Place Their Bets

In other news, VP Alexandre Apparecido sold 1,500 shares of the stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $27.56, for a total value of $41,340.00. Following the completion of the transaction, the vice president now owns 1,139 shares of the company’s stock, valued at approximately $31,390.84. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, VP Reyes Jorge Pelaez sold 5,417 shares of the firm’s 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Alexandre Apparecido sold 1,500 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $27.56, for a total transaction of $41,340.00. Following the transaction, the vice president now owns 1,139 shares of the company’s stock, valued at approximately $31,390.84. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 9,226 shares of company stock worth $255,662 over the last ninety days. Corporate insiders own 30.10% of the company’s stock.

About Fresh Del Monte Produce

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.