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

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

Fresh Del Monte Produce Price Performance

NYSE:FDP traded up $2.66 during mid-day trading on Friday, reaching $27.27. The stock had a trading volume of 605,861 shares, compared to its average volume of 244,418. The stock has a market capitalization of $1.31 billion, a PE ratio of -53.47 and a beta of 0.44. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.16 and a quick ratio of 1.11. Fresh Del Monte Produce has a 12 month low of $21.23 and a 12 month high of $28.55. The stock has a 50-day simple moving average of $22.77 and a two-hundred day simple moving average of $24.04.

Fresh Del Monte Produce Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 6th. Stockholders of record on Thursday, August 15th will be given a $0.25 dividend. 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, SVP Marissa R. Tenazas purchased 2,000 shares of Fresh Del Monte Produce stock in a transaction dated Friday, June 14th. The shares were bought at an average cost of $21.85 per share, for a total transaction of $43,700.00. Following the completion of the acquisition, the senior vice president now owns 2,108 shares in the company, valued at approximately $46,059.80. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. In related news, SVP Marissa R. Tenazas purchased 2,000 shares of the firm’s stock in a transaction on Friday, June 14th. The stock was purchased at an average cost of $21.85 per share, with a total value of $43,700.00. Following the completion of the purchase, the senior vice president now owns 2,108 shares in the company, valued at approximately $46,059.80. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Michael J. Berthelot sold 5,800 shares of the stock in a transaction on 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 transaction, the director now owns 13,916 shares in the company, valued at $328,974.24. The disclosure for this sale can be found here. Insiders own 30.10% of the company’s stock.

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.