Fresh Del Monte Produce, Inc. (NYSE:FDP) to Issue $0.30 Quarterly Dividend

Key Points

• Fresh Del Monte Produce, Inc. has declared a quarterly dividend of $0.30 per share, which will be paid on September 5th to shareholders of record as of August 13th, reflecting an annualized dividend of $1.20 and a yield of 3.10%.
• The company reported earnings of $1.23 per share for the last quarter, exceeding analysts' expectations, and its revenue was up 3.8% year-over-year at $1.18 billion.
• Fresh Del Monte Produce has an institutional ownership of approximately 64.83%, indicating strong support from large investors, with significant purchases made by firms like Millennium Management and Jane Street Group.

Fresh Del Monte Produce, Inc. (NYSE:FDP - Get Free Report) declared a quarterly dividend on Wednesday, July 30th, RTT News reports. Shareholders of record on Wednesday, August 13th will be paid a dividend of 0.30 per share on Friday, September 5th. This represents a $1.20 dividend on an annualized basis and a yield of 3.10%.

Fresh Del Monte Produce has a dividend payout ratio of 40.3% meaning its dividend is sufficiently covered by earnings.

Fresh Del Monte Produce Stock Down 1.8%

Shares of NYSE:FDP opened at $38.72 on Thursday. The business has a 50-day moving average price of $33.77 and a 200 day moving average price of $32.20. Fresh Del Monte Produce has a 12-month low of $24.24 and a 12-month high of $40.75. The company has a market capitalization of $1.86 billion, a price-to-earnings ratio of 12.67 and a beta of 0.38. The company has a current ratio of 2.05, a quick ratio of 1.01 and a debt-to-equity ratio of 0.12.

Fresh Del Monte Produce (NYSE:FDP - Get Free Report) last released its earnings results on Wednesday, July 30th. The company reported $1.23 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.95 by $0.28. Fresh Del Monte Produce had a return on equity of 6.52% and a net margin of 3.45%. The business had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.16 billion. During the same quarter in the previous year, the company posted $1.06 earnings per share. The company's revenue for the quarter was up 3.8% compared to the same quarter last year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Millennium Management LLC boosted its position in shares of Fresh Del Monte Produce by 1,647.2% in the first quarter. Millennium Management LLC now owns 596,496 shares of the company's stock worth $18,390,000 after buying an additional 562,356 shares during the period. Jane Street Group LLC grew its stake in shares of Fresh Del Monte Produce by 2,889.0% in the 1st quarter. Jane Street Group LLC now owns 122,716 shares of the company's stock valued at $3,783,000 after purchasing an additional 127,116 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Fresh Del Monte Produce by 10.7% during 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 worth $2,926,000 after buying an additional 9,202 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of 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 valued at $619,000 after acquiring an additional 879 shares during the last quarter. Institutional investors own 64.83% 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.

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