Fresh Del Monte Produce (NYSE:DMC) Now Covered by Freedom Broker

Freedom Broker started coverage on shares of Fresh Del Monte Produce (NYSE:DMC) in a research report report published on Wednesday morning,Zacks reports. The brokerage issued a hold rating on the stock.

Several other research analysts have also weighed in on DMC. Weiss Ratings lowered Fresh Del Monte Produce from a “hold (c)” rating to a “hold (c-)” rating in a report on Friday, October 30th. Wall Street Zen cut Fresh Del Monte Produce from a “buy” rating to a “hold” rating in a research note on Saturday, October 31st. Two analysts have rated the stock with a Hold rating. According to MarketBeat, the stock currently has an average rating of “Hold”.

Fresh Del Monte Produce Stock Performance

DMC opened at $28.73 on Wednesday. The stock has a fifty day moving average price of $30.27. The firm has a market capitalization of $1.35 billion, a price-to-earnings ratio of 16.80 and a beta of 0.25. Fresh Del Monte Produce has a twelve month low of $26.09 and a twelve month high of $43.58. The company has a current ratio of 2.30, a quick ratio of 0.93 and a debt-to-equity ratio of 0.24.

Fresh Del Monte Produce (NYSE:DMC) last announced its quarterly earnings results on Thursday, October 29th. The company reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $0.04. Fresh Del Monte Produce had a net margin of 1.86% and a return on equity of 5.96%. The company had revenue of $1.10 billion during the quarter. During the same period last year, the firm earned $0.69 EPS. Fresh Del Monte Produce’s quarterly revenue was up 7.2% on a year-over-year basis.

Fresh Del Monte Produce Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 4th. Investors of record on Wednesday, November 11th will be paid a $0.30 dividend. The ex-dividend date of this dividend is Tuesday, November 10th. This represents a $1.20 dividend on an annualized basis and a yield of 4.2%. Fresh Del Monte Produce’s dividend payout ratio is presently 70.18%.

Hedge Funds Weigh In On Fresh Del Monte Produce

Large investors have recently added to or reduced their stakes in the company. Outfitters Financial LLC raised its stake in shares of Fresh Del Monte Produce by 1.2% in the 3rd quarter. Outfitters Financial LLC now owns 33,070 shares of the company’s stock valued at $991,000 after purchasing an additional 400 shares during the period. Integrated Wealth Concepts LLC acquired a new position in shares of Fresh Del Monte Produce during the second quarter worth about $26,000. Fortitude Family Office LLC acquired a new position in shares of Fresh Del Monte Produce during the third quarter worth about $61,000. Farther Finance Advisors LLC bought a new position in shares of Fresh Del Monte Produce during the third quarter worth about $84,000. Finally, Signaturefd LLC grew its holdings in shares of Fresh Del Monte Produce by 212.0% during the third quarter. Signaturefd LLC now owns 4,374 shares of the company’s stock worth $131,000 after buying an additional 2,972 shares in the last quarter. Institutional investors own 64.83% of the company’s stock.

About Fresh Del Monte Produce

Fresh Del Monte Produce Inc is a vertically integrated producer, distributor and marketer of fresh and prepared fruits and vegetables. Its product portfolio includes bananas, pineapples, melons, avocados, berries, grapes, tomatoes and other fresh produce, along with prepared fruit, vegetables, juices and snacks sold under the Del Monte brand and other labels.

The company manages activities across the produce supply chain, including cultivation, sourcing, harvesting, processing, packaging, transportation and distribution.