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

Key Points

• Fresh Del Monte Produce reported a **Q3 EPS of $1.23**, exceeding the consensus estimate of $0.95 and showing a **3.8% increase in revenue** year-over-year to **$1.18 billion**.
• The company announced a quarterly dividend of **$0.30 per share**, equating to an annualized dividend of **$1.20** and a **dividend yield of 3.05%**.
• Institutional ownership in Fresh Del Monte Produce has risen, with notable increases from firms like Jane Street Group LLC and Millennium Management LLC, resulting in **64.83% of shares owned by institutional investors**.

Fresh Del Monte Produce (NYSE:FDP - Get Free Report) posted its quarterly earnings data on Wednesday. The company reported $1.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.95 by $0.28, Zacks reports. Fresh Del Monte Produce had a return on equity of 6.84% and a net margin of 3.49%. The company had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.16 billion. During the same period in the previous year, the business earned $1.06 EPS. Fresh Del Monte Produce's revenue for the quarter was up 3.8% compared to the same quarter last year.

Fresh Del Monte Produce Stock Performance

Shares of NYSE FDP traded down $0.26 during trading on Friday, reaching $37.33. The stock had a trading volume of 525,663 shares, compared to its average volume of 329,938. Fresh Del Monte Produce has a one year low of $25.32 and a one year high of $40.75. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.01 and a current ratio of 2.08. The stock has a market cap of $1.79 billion, a PE ratio of 11.96 and a beta of 0.42. The firm's 50 day moving average price is $33.90 and its two-hundred day moving average price is $32.29.

Fresh Del Monte Produce Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 5th. Stockholders of record on Wednesday, August 13th will be issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date is Wednesday, August 13th. Fresh Del Monte Produce's payout ratio is 38.46%.

Institutional Investors Weigh In On Fresh Del Monte Produce

A number of institutional investors have recently made changes to their positions in FDP. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Fresh Del Monte Produce by 4.6% in 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. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of 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 acquiring an additional 9,202 shares during the last quarter. Jane Street Group LLC increased its holdings 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 acquiring an additional 127,116 shares during the last quarter. Finally, Millennium Management LLC increased its holdings in shares of 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 acquiring an additional 562,356 shares during the last quarter. 64.83% of the stock is currently owned by institutional investors.

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.