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

Fresh Del Monte Produce Inc. (NYSE:FDP) declared a quarterly dividend on Tuesday, October 29th,Zacks Dividends reports. Shareholders 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 2.90%. The ex-dividend date is Thursday, November 14th.

Fresh Del Monte Produce has raised its dividend payment by an average of 35.7% per year over the last three years. Fresh Del Monte Produce has a payout ratio of 34.7% indicating that its dividend is sufficiently covered by earnings.

Fresh Del Monte Produce Price Performance

Fresh Del Monte Produce stock opened at $34.51 on Tuesday. The company has a market capitalization of $1.65 billion, a price-to-earnings ratio of 104.58 and a beta of 0.41. The stock’s 50 day moving average is $29.82 and its 200-day moving average is $26.27. The company has a current ratio of 2.09, a quick ratio of 1.04 and a debt-to-equity ratio of 0.14. Fresh Del Monte Produce has a 12 month low of $21.23 and a 12 month high of $34.65.

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

Analysts Set New Price Targets

Separately, StockNews.com raised 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 stock in a transaction 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 directly owns 3,466 shares of the company’s stock, valued at approximately $95,107.04. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Fresh Del Monte Produce news, VP Reyes Jorge Pelaez sold 5,417 shares of the business’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $27.75, for a total transaction of $150,321.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Monica Vicente sold 1,800 shares of the stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $27.44, for a total transaction of $49,392.00. Following the completion of the transaction, the chief financial officer now directly owns 3,466 shares of the company’s stock, valued at approximately $95,107.04. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 9,226 shares of company stock valued at $255,662 in the last three months. 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.