The Brokerages Anticipate Fresh Del Monte Produce Inc. (FDP) to Announce $0.05 EPS

The Brokerages Anticipate Fresh Del Monte Produce Inc. (FDP) to Announce $0.05 EPS

Fresh Del Monte Produce Inc. (NYSE:FDP) has been given an average broker rating score of 2.00 (Buy) from the two brokers that cover the company, Zacks Investment Research reports. One analyst has rated the stock with a hold rating and one has given a strong buy rating to the company.

Analysts have set a 1 year consensus price objective of $74.00 for the company and are predicting that the company will post $0.05 EPS for the current quarter, according to Zacks. Zacks has also assigned Fresh Del Monte Produce an industry rank of 99 out of 265 based on the ratings given to its competitors.

Several analysts recently weighed in on the company. Wunderlich boosted their price objective on Fresh Del Monte Produce from $70.00 to $74.00 and gave the company a “buy” rating in a report on Wednesday, November 2nd. Zacks Investment Research lowered Fresh Del Monte Produce from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 16th.

Fresh Del Monte Produce (NYSE:FDP) opened at 66.12 on Wednesday. The firm has a market capitalization of $3.43 billion, a PE ratio of 24.59 and a beta of 0.30. The company’s 50-day moving average price is $62.29 and its 200 day moving average price is $57.79. Fresh Del Monte Produce has a one year low of $36.68 and a one year high of $66.86.

Fresh Del Monte Produce (NYSE:FDP) last announced its quarterly earnings data on Tuesday, November 1st. The company reported $1.17 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.54 by $0.63. The firm earned $950.20 million during the quarter, compared to analyst estimates of $950.40 million. Fresh Del Monte Produce had a return on equity of 12.62% and a net margin of 3.47%. Fresh Del Monte Produce’s quarterly revenue was up 1.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.57 earnings per share. On average, analysts forecast that Fresh Del Monte Produce will post $4.64 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, December 9th. Stockholders of record on Wednesday, November 16th will be issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 0.91%. The ex-dividend date of this dividend is Monday, November 14th. Fresh Del Monte Produce’s dividend payout ratio (DPR) is presently 22.06%.

In related news, Chairman Mohammad Abu-Ghazaleh sold 10,000 shares of the stock in a transaction that occurred on Monday, October 3rd. The stock was sold at an average price of $60.06, for a total value of $600,600.00. Following the completion of the transaction, the chairman now directly owns 5,371,318 shares of the company’s stock, valued at approximately $322,601,359.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ghazaleh Amir Abu sold 15,448 shares of the stock in a transaction that occurred on Friday, November 18th. The stock was sold at an average price of $65.34, for a total value of $1,009,372.32. The disclosure for this sale can be found here. Insiders own 37.80% of the company’s stock.

Institutional investors have recently modified their holdings of the company. Principal Financial Group Inc. raised its position in shares of Fresh Del Monte Produce by 1.8% in the third quarter. Principal Financial Group Inc. now owns 7,292 shares of the company’s stock worth $437,000 after buying an additional 127 shares during the period. Advisors Asset Management Inc. raised its position in shares of Fresh Del Monte Produce by 0.8% in the second quarter. Advisors Asset Management Inc. now owns 24,373 shares of the company’s stock worth $1,327,000 after buying an additional 192 shares during the period. CIBC World Markets Inc. raised its position in shares of Fresh Del Monte Produce by 1.2% in the third quarter. CIBC World Markets Inc. now owns 20,443 shares of the company’s stock worth $1,225,000 after buying an additional 247 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Fresh Del Monte Produce by 11.6% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,375 shares of the company’s stock worth $142,000 after buying an additional 247 shares during the period. Finally, Cubist Systematic Strategies LLC raised its position in shares of Fresh Del Monte Produce by 8.9% in the second quarter. Cubist Systematic Strategies LLC now owns 5,186 shares of the company’s stock worth $282,000 after buying an additional 426 shares during the period. 63.83% of the stock is owned by institutional investors and hedge funds.

Fresh Del Monte Produce Company Profile

Fresh Del Monte Produce Inc is a holding company. Through its subsidiaries, the Company is engaged in sourcing, transportation and marketing of fresh and fresh-cut fruit and vegetables together with prepared food products in Europe, Africa and the Middle East. The Company’s operations are aggregated into business segments on the basis of its products: bananas, other fresh produce and prepared food.

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