Fresh Del Monte ProduceNYSE: FDP

Budget-friendly stocks are increasingly hard to find as top-performing mega-caps edge ever closer to overvaluation. And, as we've seen with Nvidia (NASDAQ: NVDA ) over the past week, even moderate underperformance can be devastating when so much of the wider market hinges on their performance.

Fresh Del Monte Produce Inc. offers a high dividend yield of 4.7%, while trading near a 50% discount to my net-asset liquidation value estimate. Total enterprise value including debt is now trading at less than its cost-accounting measured tangible book value, which is incredibly rare for a profitable business. Fresh Del Monte's stock quote is primed to rise substantially over the next 12-18 months, conservatively offering total return potential of +100% for buyers today.

If this year's market volatility has left you reeling, you're not alone. But, despite the high valuations plaguing many tech stocks, plenty of top-tier, high-quality blue-chip stocks are waiting in the wings to bring much-needed stability to investors' portfolios.

CORAL GABLES, Fla.--(BUSINESS WIRE)--Fresh Del Monte Produce Inc. (NYSE: FDP), (the “Company”) announced that it will release its first quarter financial results after market closing on Thursday, May 2, 2024, and will hold its quarterly conference call that day at 4:45 p.m. Eastern Time to discuss the financial results. Mohammad Abu-Ghazaleh, Chairman and CEO, Monica Vicente, Senior VP, and C will host the call.

CORAL GABLES, Fla.--(BUSINESS WIRE)--Fresh Del Monte Produce Inc. (NYSE: FDP), (the “Company”) today announced that it will issue a press release on its fourth quarter and full fiscal year 2023 financial results prior to the market opening on Monday, February 26, 2024 and will host its quarterly conference call that day at 10:00 a.m. Eastern Time to discuss the Company's financial results. Hosting the call for the Company will be Mohammad Abu-Ghazaleh, Chairman and Chief Executive Officer, Moni.

Fresh Del Monte Produce's revenue has grown at a CAGR of 2%, which is expected to continue, owing to the highly competitive, commoditized nature of the fresh produce industry. Although its margins have experienced volatility during the last decade, we suspect the company can normalize at an elevated level. Long-term success appears achievable, owing to its scale and strong brand. This should support a continuation of its 2-3% growth rate with population and economic growth.

The food industry is going through a bit of slump lately with the stock market still caught up in the excitement of artificial intelligence and the "Magnificent Seven" stocks.

Fresh Del Monte Produce, Inc. (NYSE:FDP ) Q3 2023 Earnings Conference Call November 1, 2023 10:00 AM ET Company Participants Claudia Pou - Vice President of Corporate Communications Mohammad Abu-Ghazaleh - Chairman and CEO Monica Vicente - Senior Vice President and CFO Conference Call Participants Mitchell Pinheiro - Sturdivant Operator Good day, everyone and welcome to Fresh Del Monte Produce Third Quarter 2023 Earnings Conference Call. Today's conference call is being broadcast live over the Internet and is also being recorded for playback purposes.

Fresh Del Monte Produce Inc.'s stock FDP tumbled premarket Wednesday, after the distributor of fresh fruit and vegetables posted earnings that fell short of estimates. The company posted net income of $8.4 million, or 17 cents a share, down from $33.3 million, or 69 cents a share, in the year-earlier period.