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Monica Vicente, the Senior Vice President and Chief Financial Officer of Fresh Del Monte Produce Inc . (NYSE:FDP), a $1.43 billion market cap company currently trading at $29.99 per share, recently sold a portion of her holdings in the company. According to InvestingPro analysis, the company maintains a strong financial health score of "GOOD" and trades at an attractive P/E ratio of 10.1x. According to a recent SEC filing, Vicente sold 2,532 shares of Fresh Del Monte Produce at a price of $30.42 per share, totaling $77,023. This transaction was part of a move to cover withholding tax obligations related to the vesting of previously awarded Restricted Stock Units (RSUs) and Performance Stock Units (PSUs). The company has demonstrated strong shareholder commitment, maintaining dividend payments for 16 consecutive years with a current yield of 4%.
Following the sale, Vicente retains ownership of 10,808 ordinary shares in the company. Additionally, she holds derivative securities, including Dividend Equivalent Units and Restricted Stock Units, which are set to vest in future installments. These transactions reflect routine financial management and compliance with tax obligations related to stock awards. The company maintains a healthy liquidity position with a current ratio of 2.13, indicating strong ability to meet short-term obligations.
In other recent news, Fresh Del Monte Produce Inc. reported its fourth-quarter 2024 earnings, revealing a miss on both earnings per share (EPS) and revenue. The company posted an EPS of $0.26, which fell short of the expected $0.43, while revenue came in at $1.01 billion, slightly below the anticipated $1.02 billion. Despite the quarterly shortfall, Fresh Del Monte achieved a notable turnaround for the full year, with net income reaching $142 million compared to a net loss of $11 million in 2023. In addition, the company managed to reduce its long-term debt by 39%, ending the year at $244 million.
In a strategic move, Fresh Del Monte appointed Deema Anani as Chief Commercial Officer for Specialty Ingredients, aiming to drive growth in its Biomass initiative. This initiative focuses on converting agricultural residues into valuable products, aligning with the company’s sustainability goals. The company also highlighted new product innovations and sourcing expansions during its earnings call. Analyst firm Sturdivant and Company participated in the call, reflecting investor interest in the company’s future strategies.
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