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Michael J. Berthelot, a director at Fresh Del Monte Produce Inc . (NYSE:FDP), recently sold 3,000 ordinary shares of the company. The shares were sold at a price of $30.16 each, resulting in a total transaction value of approximately $90,480. Following this sale, Berthelot holds 7,107 shares directly. The transaction comes as InvestingPro analysis shows Fresh Del Monte trading at an attractive P/E ratio of 10.45, with the stock currently appearing undervalued according to InvestingPro’s Fair Value metrics.
In addition to the non-derivative transaction, Berthelot maintains holdings in derivative securities, including Dividend Equivalent Units (DEUs) and Restricted Stock Units (RSUs). The DEUs, which are tied to the company’s ordinary shares, amount to 168.3018 shares, while the RSUs account for 6,162 shares. The RSUs are set to vest on May 7, 2024, converting to ordinary shares on a one-for-one basis. Notably, Fresh Del Monte offers a 3.93% dividend yield and has maintained dividend payments for 16 consecutive years.
These transactions and holdings are part of Berthelot’s ongoing involvement with Fresh Del Monte Produce, a leading player in the agriculture production sector. The company maintains strong financial health according to InvestingPro analysis, with a beta of 0.32 indicating relatively low price volatility. For deeper insights into Fresh Del Monte’s valuation and prospects, investors can access the comprehensive Pro Research Report, available exclusively on InvestingPro.
In other recent news, Fresh Del Monte Produce Inc. reported its fourth-quarter 2024 earnings, revealing an earnings per share (EPS) of $0.26, which fell short of the expected $0.43. Revenue also missed projections, coming in at $1.01 billion, slightly below the anticipated $1.02 billion. Despite these misses, the company managed to improve its gross margin to 8.4% for the full year, compared to 8.1% in 2023, and reduced long-term debt by 39% to $244 million. Fresh Del Monte also announced the appointment of Deema Anani as Chief Commercial Officer for Specialty Ingredients, emphasizing its strategic focus on the Biomass initiative. This initiative aims to convert agricultural residues into valuable products, aligning with the company’s sustainability goals. In leadership developments, Chairman and CEO Mohammad Abu-Ghazaleh expressed confidence in Anani’s ability to drive commercial growth. Additionally, Fresh Del Monte plans to increase its net sales by 2% in 2025, with expectations of gross margins between 10-11% in the Fresh and Value Added Segment. The company also highlighted its ongoing expansion in pineapple and avocado sourcing as part of its growth strategy.
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