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

Fresh Del Monte Produce (NYSE:FDP) announced its quarterly earnings data on Thursday. The company reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.26), Briefing.com reports. Fresh Del Monte Produce had a positive return on equity of 4.55% and a negative net margin of 0.56%. The business had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.15 billion. During the same quarter in the previous year, the business posted $0.55 earnings per share. The company’s revenue was down 1.8% compared to the same quarter last year.

Fresh Del Monte Produce Stock Down 5.8 %

FDP opened at $24.52 on Friday. The business has a 50-day moving average of $25.08 and a 200-day moving average of $24.80. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.12 and a quick ratio of 1.01. Fresh Del Monte Produce has a fifty-two week low of $21.41 and a fifty-two week high of $28.55. The company has a market capitalization of $1.17 billion, a PE ratio of -48.08 and a beta of 0.54.

Fresh Del Monte Produce Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Thursday, May 16th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.08%. The ex-dividend date is Wednesday, May 15th. Fresh Del Monte Produce’s dividend payout ratio (DPR) is presently -196.07%.

Analyst Upgrades and Downgrades

Separately, TheStreet lowered Fresh Del Monte Produce from a “b-” rating to a “c” rating in a research report on Monday, February 26th.

Insider Activity at Fresh Del Monte Produce

In other Fresh Del Monte Produce news, CFO Monica Vicente sold 1,083 shares of Fresh Del Monte Produce stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $24.35, for a total value of $26,371.05. Following the transaction, the chief financial officer now directly owns 5,266 shares of the company’s stock, valued at approximately $128,227.10. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Fresh Del Monte Produce news, CFO Monica Vicente sold 1,083 shares of Fresh Del Monte Produce stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $24.35, for a total value of $26,371.05. Following the transaction, the chief financial officer now directly owns 5,266 shares of the company’s stock, valued at approximately $128,227.10. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Ghazaleh Amir Abu purchased 10,000 shares of the company’s stock in a transaction on Wednesday, February 28th. The stock was acquired at an average cost of $23.62 per share, for a total transaction of $236,200.00. Following the completion of the transaction, the director now owns 3,264,308 shares in the company, valued at $77,102,954.96. The disclosure for this purchase can be found here. In the last ninety days, insiders have sold 10,569 shares of company stock valued at $258,509. Corporate insiders own 29.70% 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.