Fresh Del Monte Produce (NYSE:FDP) Posts Quarterly Earnings Results
Fresh Del Monte Produce (NYSE:FDP) released its earnings results on Wednesday. The company reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.23, MarketWatch Earnings reports. Fresh Del Monte Produce had a net margin of 0.54% and a return on equity of 2.16%. The business had revenue of $1.09 billion during the quarter, compared to analysts’ expectations of $1.21 billion. During the same period last year, the business earned $0.72 earnings per share. The firm’s revenue was down 11.9% on a year-over-year basis.
Shares of NYSE FDP traded down $0.55 during mid-day trading on Friday, reaching $22.73. 4,719 shares of the company were exchanged, compared to its average volume of 149,457. Fresh Del Monte Produce has a twelve month low of $20.25 and a twelve month high of $38.79. The stock has a market capitalization of $1.10 billion, a P/E ratio of 47.51 and a beta of 0.70. The company’s 50-day simple moving average is $23.62 and its 200-day simple moving average is $27.99. The company has a quick ratio of 0.90, a current ratio of 1.82 and a debt-to-equity ratio of 0.37.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 4th. Shareholders of record on Wednesday, August 12th will be issued a $0.05 dividend. The ex-dividend date is Tuesday, August 11th. This represents a $0.20 annualized dividend and a dividend yield of 0.88%.
In other news, CEO Mohammad Abu-Ghazaleh sold 22,850 shares of the company’s stock in a transaction that occurred on Wednesday, July 29th. The stock was sold at an average price of $24.47, for a total value of $559,139.50. Following the transaction, the chief executive officer now owns 7,126,715 shares of the company’s stock, valued at $174,390,716.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Over the last three months, insiders sold 151,118 shares of company stock worth $3,507,622. Insiders own 35.60% 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, Europe, the Middle East, Africa, Asia, and internationally. It offers fresh produce products, such as bananas, pineapples, melons, tomatoes, grapes, apples, pears, peaches, plums, nectarines, cherries, citrus, avocados, blueberries, strawberries, and kiwi; various vegetables, including potatoes, onions, bell peppers, cucumbers, whole lettuce, broccoli, cauliflower, and other vegetables; and various other fruits, such as plantains and mangoes.
Further Reading: Depreciation
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