Shares of Fresh Del Monte Produce Inc. (NYSE:FDP – Get Free Report) gapped up before the market opened on Friday after the company announced better than expected quarterly earnings. The stock had previously closed at $24.61, but opened at $25.91. Fresh Del Monte Produce shares last traded at $26.26, with a volume of 8,475 shares changing hands.
The company reported $1.06 EPS for the quarter, topping the consensus estimate of $0.60 by $0.46. The company had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.18 billion. Fresh Del Monte Produce had a negative net margin of 0.56% and a positive return on equity of 4.59%. The business’s revenue for the quarter was down 3.5% on a year-over-year basis. During the same period last year, the firm earned $0.99 earnings per share.
Insider Buying and Selling
In related news, Director Michael J. Berthelot sold 5,800 shares of the stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $23.64, for a total transaction of $137,112.00. Following the sale, the director now owns 13,916 shares in the company, valued at approximately $328,974.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, SVP Marissa R. Tenazas purchased 2,000 shares of the company’s stock in a transaction dated Friday, June 14th. The stock was bought at an average cost of $21.85 per share, for a total transaction of $43,700.00. Following the purchase, the senior vice president now owns 2,108 shares of the company’s stock, valued at $46,059.80. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Michael J. Berthelot sold 5,800 shares of the business’s stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $23.64, for a total value of $137,112.00. Following the sale, the director now owns 13,916 shares in the company, valued at approximately $328,974.24. The disclosure for this sale can be found here. 30.10% of the stock is currently owned by company insiders.
Hedge Funds Weigh In On Fresh Del Monte Produce
Fresh Del Monte Produce Stock Up 6.7 %
The company has a quick ratio of 1.11, a current ratio of 2.16 and a debt-to-equity ratio of 0.21. The stock’s 50-day simple moving average is $22.69 and its 200 day simple moving average is $24.03. The firm has a market cap of $1.26 billion, a P/E ratio of -48.25 and a beta of 0.44.
Fresh Del Monte Produce Company Profile
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.
Further Reading
- Five stocks we like better than Fresh Del Monte Produce
- How to Invest in the FAANG Stocks
- Shell Stock: Oil & Gas Giant Committed to Buybacks and Dividends
- Procter & Gamble (NYSE:PG) Pulls Back After Shaky Guidance
- Chevron Stock Dips as Earnings Miss Highlights Merger Uncertainty
- Which Wall Street Analysts are the Most Accurate?
- DraftKings Shares Fall After EPS Beat, Lower EBITDA Guidance
Receive News & Ratings for Fresh Del Monte Produce Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fresh Del Monte Produce and related companies with MarketBeat.com's FREE daily email newsletter.