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

Fresh Del Monte Produce (NYSE:FDP) posted its quarterly earnings results on Thursday. The company reported $1.06 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.46, Briefing.com reports. Fresh Del Monte Produce had a negative net margin of 0.43% and a positive return on equity of 4.88%. The firm had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.18 billion. During the same period last year, the firm posted $0.99 earnings per share. The company’s revenue for the quarter was down 3.5% on a year-over-year basis.

Fresh Del Monte Produce Trading Up 10.8 %

FDP stock traded up $2.66 during mid-day trading on Friday, hitting $27.27. 605,861 shares of the company were exchanged, compared to its average volume of 244,418. The business has a fifty day simple moving average of $22.77 and a 200-day simple moving average of $24.04. The company has a quick ratio of 1.11, a current ratio of 2.16 and a debt-to-equity ratio of 0.21. Fresh Del Monte Produce has a 12-month low of $21.23 and a 12-month high of $28.55. The firm has a market capitalization of $1.31 billion, a P/E ratio of -53.47 and a beta of 0.44.

Fresh Del Monte Produce Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 6th. Stockholders of record on Thursday, August 15th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.67%. The ex-dividend date is Thursday, August 15th. Fresh Del Monte Produce’s dividend payout ratio is presently -196.08%.

Insiders Place Their Bets

In other news, Director Michael J. Berthelot sold 5,800 shares of Fresh Del Monte Produce stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $23.64, for a total value of $137,112.00. Following the transaction, the director now owns 13,916 shares of the company’s stock, valued at $328,974.24. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, Director Michael J. Berthelot sold 5,800 shares of Fresh Del Monte Produce stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $23.64, for a total value of $137,112.00. Following the completion of the sale, the director now directly owns 13,916 shares in the company, valued at $328,974.24. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Marissa R. Tenazas bought 2,000 shares of Fresh Del Monte Produce stock in a transaction on Friday, June 14th. The shares were bought at an average price of $21.85 per share, for a total transaction of $43,700.00. Following the acquisition, the senior vice president now owns 2,108 shares of the company’s stock, valued at approximately $46,059.80. The disclosure for this purchase can be found here. 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.