Fresh Del Monte Produce Inc. (NYSE:FDP) Announces $0.25 Quarterly Dividend

Fresh Del Monte Produce Inc. (NYSE:FDP) declared a quarterly dividend on Tuesday, October 29th,Zacks Dividends reports. Investors of record on Thursday, November 14th will be given a dividend of 0.25 per share on Friday, December 6th. This represents a $1.00 annualized dividend and a yield of 2.91%. The ex-dividend date is Thursday, November 14th.

Fresh Del Monte Produce has increased its dividend by an average of 35.7% annually over the last three years. Fresh Del Monte Produce has a payout ratio of 34.7% meaning its dividend is sufficiently covered by earnings.

Fresh Del Monte Produce Price Performance

Shares of FDP opened at $34.40 on Wednesday. The company has a current ratio of 2.09, a quick ratio of 1.04 and a debt-to-equity ratio of 0.14. The stock’s 50 day moving average is $29.92 and its two-hundred day moving average is $26.33. Fresh Del Monte Produce has a twelve month low of $21.23 and a twelve month high of $35.27. The firm has a market capitalization of $1.65 billion, a PE ratio of 104.22 and a beta of 0.41.

Fresh Del Monte Produce (NYSE:FDP) last posted its quarterly earnings results on Thursday, October 31st. The company reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates of $0.47 by $0.30. The firm had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $989.45 million. Fresh Del Monte Produce had a return on equity of 5.91% and a net margin of 0.36%. The company’s revenue for the quarter was up 1.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.35 earnings per share.

Analysts Set New Price Targets

Separately, StockNews.com upgraded shares of Fresh Del Monte Produce from a “hold” rating to a “buy” rating in a report on Monday, August 5th.

Insider Buying and Selling at Fresh Del Monte Produce

In other news, CFO Monica Vicente sold 1,800 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $27.44, for a total transaction of $49,392.00. Following the sale, the chief financial officer now owns 3,466 shares of the company’s stock, valued at $95,107.04. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CFO Monica Vicente sold 1,800 shares of the business’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $27.44, for a total value of $49,392.00. Following the sale, the chief financial officer now directly owns 3,466 shares in the company, valued at $95,107.04. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Reyes Jorge Pelaez sold 5,417 shares of the stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $27.75, for a total transaction of $150,321.75. The disclosure for this sale can be found here. Over the last three months, insiders sold 9,226 shares of company stock valued at $255,662. Corporate insiders own 30.10% of the company’s stock.

About Fresh Del Monte Produce

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.