Fresh Del Monte Produce, Inc. (FDP) to Issue Quarterly Dividend of $0.30 on March 27th

Fresh Del Monte Produce, Inc. (NYSE:FDP) declared a quarterly dividend on Tuesday, February 17th. Shareholders of record on Wednesday, March 4th will be given a dividend of 0.30 per share on Friday, March 27th. This represents a c) dividend on an annualized basis and a yield of 2.8%. The ex-dividend date is Wednesday, March 4th.

Fresh Del Monte Produce has increased its dividend payment by an average of 0.5%annually over the last three years and has increased its dividend every year for the last 5 years. Fresh Del Monte Produce has a dividend payout ratio of 40.3% meaning its dividend is sufficiently covered by earnings.

Fresh Del Monte Produce Stock Up 5.5%

FDP opened at $42.52 on Thursday. The company has a 50-day moving average price of $37.75 and a 200 day moving average price of $36.33. Fresh Del Monte Produce has a twelve month low of $26.50 and a twelve month high of $42.90. The company has a quick ratio of 1.07, a current ratio of 2.09 and a debt-to-equity ratio of 0.09. The company has a market cap of $2.03 billion, a PE ratio of 26.09 and a beta of 0.30.

Fresh Del Monte Produce (NYSE:FDP) last posted its earnings results on Wednesday, February 18th. The company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.42. Fresh Del Monte Produce had a net margin of 1.84% and a return on equity of 6.63%. The company had revenue of $968.20 million for the quarter, compared to analyst estimates of $1.01 billion. During the same period in the previous year, the business posted $0.26 EPS. Fresh Del Monte Produce’s revenue was up .6% on a year-over-year basis.

Analysts Set New Price Targets

Several research analysts have commented on FDP shares. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Fresh Del Monte Produce in a research report on Monday, December 29th. Wall Street Zen downgraded shares of Fresh Del Monte Produce from a “buy” rating to a “hold” rating in a research report on Saturday, November 1st. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the stock currently has an average rating of “Hold”.

Fresh Del Monte Produce Company Profile

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.