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

Fresh Del Monte Produce (NYSE:FDPGet Rating) released its earnings results on Wednesday. The company reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $0.09, MarketWatch Earnings reports. The company had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.12 billion. Fresh Del Monte Produce had a net margin of 1.88% and a return on equity of 4.41%. The firm’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.88 EPS.

FDP traded down $0.93 on Thursday, hitting $23.82. The company had a trading volume of 5,214 shares, compared to its average volume of 149,225. The business’s fifty day simple moving average is $26.14 and its 200 day simple moving average is $27.46. The company has a quick ratio of 0.78, a current ratio of 1.74 and a debt-to-equity ratio of 0.29. Fresh Del Monte Produce has a 12-month low of $24.10 and a 12-month high of $36.57. The company has a market cap of $1.14 billion, a PE ratio of 14.73 and a beta of 0.71.

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 10th. Stockholders of record on Wednesday, May 18th will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 2.52%. The ex-dividend date of this dividend is Tuesday, May 17th. Fresh Del Monte Produce’s dividend payout ratio is 35.71%.

Separately, StockNews.com assumed coverage on shares of Fresh Del Monte Produce in a research report on Thursday, March 31st. They set a “hold” rating for the company.

In other news, SVP Hans Sauter sold 2,394 shares of Fresh Del Monte Produce stock in a transaction on Friday, March 25th. The stock was sold at an average price of $26.31, for a total transaction of $62,986.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Jesus Rodriguez Calvo sold 1,242 shares of the company’s stock in a transaction dated Monday, March 21st. The stock was sold at an average price of $25.82, for a total transaction of $32,068.44. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 19,164 shares of company stock worth $501,788. Company insiders own 30.20% of the company’s stock.

Several hedge funds have recently modified their holdings of the business. BlackRock Inc. raised its holdings in shares of Fresh Del Monte Produce by 2.6% in the fourth quarter. BlackRock Inc. now owns 5,538,120 shares of the company’s stock valued at $152,853,000 after acquiring an additional 138,235 shares in the last quarter. State Street Corp boosted its stake in shares of Fresh Del Monte Produce by 5.8% in the fourth quarter. State Street Corp now owns 1,177,734 shares of the company’s stock worth $32,505,000 after buying an additional 64,347 shares during the last quarter. Geode Capital Management LLC grew its position in Fresh Del Monte Produce by 2.7% during the fourth quarter. Geode Capital Management LLC now owns 540,881 shares of the company’s stock valued at $14,928,000 after buying an additional 14,147 shares during the period. Norges Bank acquired a new stake in Fresh Del Monte Produce in the fourth quarter valued at approximately $7,472,000. Finally, Morgan Stanley increased its stake in shares of Fresh Del Monte Produce by 72.4% during the second quarter. Morgan Stanley now owns 149,980 shares of the company’s stock worth $4,931,000 after purchasing an additional 63,007 shares in the last quarter. Institutional investors and hedge funds own 67.95% of the company’s stock.

About Fresh Del Monte Produce (Get Rating)

Fresh Del Monte Produce Inc, through its subsidiaries, produces, markets, and distributes fresh and fresh-cut fruits and vegetables in North 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.

See Also

Earnings History for Fresh Del Monte Produce (NYSE:FDP)

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