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

Fresh Del Monte Produce (NYSE:FDP) posted its quarterly earnings results on Tuesday. The company reported $0.63 EPS for the quarter, topping the consensus estimate of $0.62 by $0.01, FiscalAI reports. Fresh Del Monte Produce had a return on equity of 7.63% and a net margin of 2.10%.The business had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.03 billion. During the same quarter in the previous year, the firm earned $0.63 EPS. The company’s quarterly revenue was down 4.9% compared to the same quarter last year.

Fresh Del Monte Produce Trading Down 4.5%

Shares of NYSE FDP opened at $38.55 on Tuesday. Fresh Del Monte Produce has a twelve month low of $31.43 and a twelve month high of $43.58. The company has a current ratio of 2.16, a quick ratio of 1.06 and a debt-to-equity ratio of 0.09. The stock has a fifty day simple moving average of $41.71 and a 200-day simple moving average of $38.57. The stock has a market capitalization of $1.83 billion, a PE ratio of 20.51 and a beta of 0.30.

Fresh Del Monte Produce Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 11th. Stockholders of record on Tuesday, May 19th will be given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 3.1%. The ex-dividend date is Tuesday, May 19th. Fresh Del Monte Produce’s dividend payout ratio (DPR) is currently 63.83%.

Insider Activity

In related news, SVP Effie D. Silva sold 5,894 shares of the stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $41.94, for a total transaction of $247,194.36. Following the transaction, the senior vice president owned 8,536 shares of the company’s stock, valued at approximately $357,999.84. This represents a 40.85% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Ziad Nabulsi sold 7,395 shares of Fresh Del Monte Produce stock in a transaction dated Friday, March 6th. The shares were sold at an average price of $42.01, for a total value of $310,663.95. Following the completion of the transaction, the senior vice president directly owned 8,397 shares of the company’s stock, valued at approximately $352,757.97. This represents a 46.83% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 33,151 shares of company stock worth $1,391,225 in the last quarter. Insiders own 30.60% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Fresh Del Monte Produce by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,090 shares of the company’s stock worth $619,000 after buying an additional 879 shares during the period. Millennium Management LLC boosted its position in Fresh Del Monte Produce by 1,647.2% in the 1st quarter. Millennium Management LLC now owns 596,496 shares of the company’s stock valued at $18,390,000 after buying an additional 562,356 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in Fresh Del Monte Produce by 10.7% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 94,910 shares of the company’s stock valued at $2,926,000 after buying an additional 9,202 shares during the period. Jane Street Group LLC grew its stake in shares of Fresh Del Monte Produce by 2,889.0% in the first quarter. Jane Street Group LLC now owns 122,716 shares of the company’s stock worth $3,783,000 after acquiring an additional 127,116 shares in the last quarter. Finally, Prudential Financial Inc. grew its stake in shares of Fresh Del Monte Produce by 25.4% in the second quarter. Prudential Financial Inc. now owns 9,016 shares of the company’s stock worth $292,000 after acquiring an additional 1,829 shares in the last quarter. Hedge funds and other institutional investors own 64.83% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on FDP shares. Wall Street Zen raised shares of Fresh Del Monte Produce from a “hold” rating to a “buy” rating in a research note on Saturday, February 21st. Weiss Ratings upgraded Fresh Del Monte Produce from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, February 23rd. One analyst has rated the stock with a Buy rating, According to MarketBeat, the stock has a consensus rating of “Buy”.

Fresh Del Monte Produce Company Profile

Fresh Del Monte Produce Inc is a leading producer, marketer and distributor of fresh and fresh-cut fruits and vegetables worldwide. The company offers a wide range of products including bananas, pineapples, melons, grapes and avocados, along with value-added items such as fruit salads, vegetable trays and snack packs under the Del Monte® brand.

Founded in 1989 as a spin-off from Del Monte, Fresh Del Monte has developed a global supply chain that spans production farms, ripening facilities and packaging centers across Latin America, North America, Europe, Asia and Africa.