Fresh Del Monte Produce (NYSE:FDP) Posts Earnings Results, Beats Expectations By $0.01 EPS

Key Points

• EPS beat: Fresh Del Monte reported Q earnings of $0.63 per share, beating the $0.62 consensus by $0.01, with revenue of $1.04 billion versus $1.03 billion expected, though revenue was down 4.9% year‑over‑year.
• Dividend declared: The company announced a quarterly dividend of $0.30 (annualized $1.20) for a 3.1% yield, with an ex‑dividend date of May 19 and payment on June 11; the payout ratio is about 63.8%.
• Insider selling and analyst activity: Insiders sold 33,151 shares worth roughly $1.39 million last quarter (insiders own ~30.6%), while some brokerages have recently upgraded FDP to a "Buy"; the stock has a market cap of $1.83 billion and a P/E of about 20.5.

Fresh Del Monte Produce (NYSE:FDP - Get Free Report) announced its earnings results on Tuesday. The company reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.01, FiscalAI reports. Fresh Del Monte Produce had a net margin of 2.10% and a return on equity of 7.63%. The firm had revenue of $1.04 billion for the quarter, compared to analysts' expectations of $1.03 billion. During the same period in the prior year, the company earned $0.63 EPS. The business's revenue was down 4.9% compared to the same quarter last year.

Fresh Del Monte Produce Stock Performance

Shares of NYSE:FDP opened at $38.55 on Tuesday. The company has a current ratio of 2.16, a quick ratio of 1.06 and a debt-to-equity ratio of 0.09. Fresh Del Monte Produce has a 12 month low of $31.43 and a 12 month high of $43.58. The company has a market capitalization of $1.83 billion, a price-to-earnings ratio of 20.51 and a beta of 0.30. The firm's 50-day moving average is $41.71 and its 200 day moving average is $38.57.

Fresh Del Monte Produce Dividend Announcement

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

Insider Transactions at Fresh Del Monte Produce

In other Fresh Del Monte Produce news, SVP Marissa R. Tenazas sold 1,969 shares of the firm's stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $42.28, for a total value of $83,249.32. Following the transaction, the senior vice president owned 6,428 shares in the company, valued at approximately $271,775.84. This trade represents a 23.45% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Effie D. Silva sold 5,894 shares of the company's stock in a transaction on Monday, March 9th. The stock was sold at an average price of $41.94, for a total transaction of $247,194.36. Following the sale, the senior vice president directly owned 8,536 shares of the company's stock, valued at $357,999.84. The trade was a 40.85% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 33,151 shares of company stock worth $1,391,225 in the last quarter. 30.60% of the stock is owned by insiders.

Institutional Trading of Fresh Del Monte Produce

Several large investors have recently bought and sold shares of FDP. HighTower Advisors LLC raised its holdings in Fresh Del Monte Produce by 5.2% in the 4th quarter. HighTower Advisors LLC now owns 9,982 shares of the company's stock valued at $356,000 after acquiring an additional 489 shares during the last quarter. Russell Investments Group Ltd. increased its holdings in shares of Fresh Del Monte Produce by 0.7% in the fourth quarter. Russell Investments Group Ltd. now owns 71,447 shares of the company's stock valued at $2,546,000 after purchasing an additional 514 shares during the last quarter. New York State Common Retirement Fund increased its holdings in shares of Fresh Del Monte Produce by 5.2% in the fourth quarter. New York State Common Retirement Fund now owns 11,135 shares of the company's stock valued at $397,000 after purchasing an additional 548 shares during the last quarter. Horizon Investments LLC lifted its position in Fresh Del Monte Produce by 3.8% during the third quarter. Horizon Investments LLC now owns 15,834 shares of the company's stock worth $545,000 after buying an additional 578 shares in the last quarter. Finally, Geneos Wealth Management Inc. lifted its position in Fresh Del Monte Produce by 238.1% during the second quarter. Geneos Wealth Management Inc. now owns 1,065 shares of the company's stock worth $35,000 after buying an additional 750 shares in the last quarter. Hedge funds and other institutional investors own 64.83% of the company's stock.

Analysts Set New Price Targets

Several brokerages have weighed in on FDP. Wall Street Zen raised Fresh Del Monte Produce from a "hold" rating to a "buy" rating in a research note on Saturday, February 21st. Weiss Ratings raised Fresh Del Monte Produce from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Monday, February 23rd. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, Fresh Del Monte Produce currently has an average rating of "Buy".

About Fresh Del Monte Produce

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.

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