Fresh Del Monte Produce Inc. (FDP) to Issue Quarterly Dividend of $0.15 on June 10th

Fresh Del Monte Produce Inc. (NYSE:FDP – Get Rating) announced a quarterly dividend on Tuesday, May 3rd, Zacks reports. Investors of record on Wednesday, May 18th will be given a dividend of 0.15 per share on Friday, June 10th. This represents a $0.60 dividend on an annualized basis and a yield of 2.42%. The ex-dividend date of this dividend is Tuesday, May 17th.

Fresh Del Monte Produce has decreased its dividend by an average of 5.9% per year over the last three years and has increased its dividend annually for the last 1 consecutive years. Fresh Del Monte Produce has a payout ratio of 30.8% indicating that its dividend is sufficiently covered by earnings.

Shares of FDP opened at $24.81 on Friday. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.80 and a quick ratio of 0.88. The stock has a market cap of $1.19 billion, a PE ratio of 18.80 and a beta of 0.71. The firm has a 50-day simple moving average of $25.87 and a two-hundred day simple moving average of $27.06. Fresh Del Monte Produce has a 1-year low of $23.42 and a 1-year high of $36.57.

Fresh Del Monte Produce (NYSE:FDP – Get Rating) last issued its quarterly earnings data on Wednesday, May 4th. The company reported $0.55 earnings per share for the quarter. Fresh Del Monte Produce had a net margin of 1.47% and a return on equity of 3.54%. The business had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.12 billion. During the same quarter in the previous year, the firm earned $0.88 EPS. The company’s revenue was up 4.5% compared to the same quarter last year.

In other news, SVP Jesus Rodriguez Calvo sold 1,242 shares of the stock in a transaction dated Monday, March 21st. The shares were sold at an average price of $25.82, for a total transaction of $32,068.44. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Eduardo Guarita Bezerra sold 4,527 shares of the stock in a transaction that occurred on Tuesday, March 8th. The stock was sold at an average price of $26.18, for a total transaction of $118,516.86. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 19,164 shares of company stock worth $501,788. Insiders own 30.20% of the company’s stock.

Several hedge funds have recently modified their holdings of FDP. Charles Schwab Investment Management Inc. raised its position in Fresh Del Monte Produce by 5.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 693,242 shares of the company’s stock valued at $17,962,000 after purchasing an additional 35,911 shares during the period. First Trust Advisors LP raised its holdings in shares of Fresh Del Monte Produce by 30.0% during the 1st quarter. First Trust Advisors LP now owns 184,226 shares of the company’s stock valued at $4,773,000 after buying an additional 42,545 shares during the period. Prudential Financial Inc. lifted its position in Fresh Del Monte Produce by 8.8% during the 1st quarter. Prudential Financial Inc. now owns 146,225 shares of the company’s stock worth $3,789,000 after acquiring an additional 11,821 shares in the last quarter. Bridgewater Associates LP purchased a new position in Fresh Del Monte Produce in the 1st quarter worth approximately $444,000. Finally, Vanguard Group Inc. grew its position in Fresh Del Monte Produce by 2.8% in the first quarter. Vanguard Group Inc. now owns 4,055,814 shares of the company’s stock valued at $105,086,000 after acquiring an additional 111,127 shares in the last quarter. 67.95% of the stock is currently owned by institutional investors and hedge funds.

Separately, StockNews.com assumed coverage on shares of Fresh Del Monte Produce in a report on Thursday, March 31st. They issued a “hold” rating on the stock.

Fresh Del Monte Produce Company Profile (Get Rating)

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 operates through three segments: Fresh and Value-Added Products, Banana, and Other Products and Services.

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