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Ziad Nabulsi, Senior Vice President of North American Operations at Fresh Del Monte Produce Inc . (NYSE:FDP), a $1.43 billion market cap company currently trading at $29.99 per share and offering a 4% dividend yield, recently executed a notable transaction in the company’s stock. According to InvestingPro analysis, the company maintains strong financial health with low price volatility. On March 3, Nabulsi sold 1,725 ordinary shares at a price of $30.42 per share, totaling approximately $52,474. Following this transaction, Nabulsi’s direct ownership stands at 11,498 shares. The stock currently trades at an attractive P/E ratio of 10.1, and InvestingPro’s Fair Value analysis suggests the stock is slightly undervalued.
In addition to the sale, Nabulsi engaged in several derivative transactions. He acquired 3,633 restricted stock units and 3,633 performance stock units, both at no cost. These units convert to ordinary shares on a one-for-one basis, with vesting scheduled over the next three years. The transactions reflect ongoing management of equity compensation within the company. For comprehensive insider trading analysis and 10+ additional ProTips, explore 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 did not meet the forecasted $0.43. The company’s revenue also fell short of expectations, coming in at $1.01 billion compared to the anticipated $1.02 billion. Despite these misses, Fresh Del Monte improved its gross profit by 2% to $358 million for the full year, and notably reduced its long-term debt by 39% to $244 million. In a strategic move, Fresh Del Monte appointed Deema Anani as Chief Commercial Officer for Specialty Ingredients, focusing on the company’s Biomass initiative. This initiative aims to transform agricultural residues into valuable products. The company has also been recognized for its sustainability efforts, receiving multiple SEAL Business Sustainability Awards. Analysts have not provided any updates on upgrades or downgrades for Fresh Del Monte at this time. These developments reflect Fresh Del Monte’s ongoing efforts to enhance its financial performance and sustainability initiatives.
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