Fresh Del Monte Produce COO sells $154,046 in stock

Abbas Mohammed, the Executive Vice President and Chief Operating Officer at Fresh Del Monte Produce Inc . (NYSE:FDP), recently sold 5,064 ordinary shares of the company. The transaction, which took place on March 3, 2025, was executed at a price of $30.42 per share, amounting to a total of $154,046. Following this sale, Mohammed retains ownership of 45,560 shares in the company. The sale occurred as Fresh Del Monte, with a market capitalization of $1.43 billion, trades at an attractive P/E ratio of 10.1 and offers a 4% dividend yield. According to InvestingPro analysis, the stock appears undervalued based on its Fair Value estimates.

In addition to the sale, Mohammed received 12,636 restricted stock units and an equal number of performance stock units, both awarded on March 3, 2025. These units are set to vest in three equal annual installments over the next three years, contingent on meeting specific performance criteria. The company maintains strong financial health with a "GOOD" rating from InvestingPro, which offers comprehensive insider trading analysis and 8 additional ProTips for informed investment decisions. Fresh Del Monte has consistently maintained dividend payments for 16 consecutive years, demonstrating commitment to shareholder returns.

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. The company’s revenue for the quarter also missed expectations, coming in at $1.01 billion compared to the anticipated $1.02 billion. Despite the quarterly shortfall, Fresh Del Monte saw a 2% increase in gross profit for the year, reaching $358 million, and improved its gross margins to 8.4% from 8.1% in 2023. The company also reduced its long-term debt by 39% over the year. Fresh Del Monte has appointed Deema Anani as Chief Commercial Officer for Specialty Ingredients, aiming to drive growth in its Biomass initiative, which focuses on converting agricultural residues into valuable products. Analysts have noted the company’s efforts to innovate and expand sourcing, particularly in its pineapple and avocado segments. Additionally, Fresh Del Monte is planning a 2% increase in net sales for 2025, with capital expenditures expected to be between $80-90 million. The company continues to focus on sustainable practices and has been recognized with the SEAL Business Sustainability Awards multiple times.

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