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Effie D. Silva, Senior Vice President and General Counsel at Fresh Del Monte Produce Inc . (NYSE:FDP), has recently sold 2,124 shares of the company’s ordinary stock. The transaction, which took place on March 3, 2025, was executed at a price of $30.42 per share, amounting to a total sale value of $64,612.
Following this transaction, Silva holds approximately 8,692 shares directly. The sale was primarily conducted to cover withholding tax obligations related to the settlement of previously vested Restricted Stock Units (RSUs) and Performance Stock Units (PSUs). The company maintains strong financial health with a GOOD rating according to InvestingPro metrics, trading at an attractive P/E ratio of 10.1x while offering a 4% dividend yield.
In addition to this, Silva acquired 6,328 Restricted Stock Units and 6,328 Performance Stock Units, both transactions recorded at no cost. These units are set to vest in equal installments over the next three years, contingent upon meeting specific performance criteria. For deeper insights into FDP’s valuation and 10+ additional ProTips, visit InvestingPro, where you’ll find comprehensive research reports and detailed financial analysis.
In other recent news, Fresh Del Monte Produce Inc. reported its fourth-quarter 2024 earnings, which fell short of expectations. The company posted earnings per share of $0.26, missing the forecasted $0.43, and reported revenue of $1.01 billion, slightly below the anticipated $1.02 billion. Despite these misses, Fresh Del Monte managed to improve its gross profit by 2% to $358 million for the year, while reducing its long-term debt by 39%. The company also saw a significant turnaround in net income, achieving $142 million compared to a net loss of $11 million in 2023.
Additionally, Fresh Del Monte announced the appointment of Deema Anani as Chief Commercial Officer for Specialty Ingredients, part of its strategic focus on the Biomass initiative. This initiative aims to convert agricultural residues into valuable products, promoting sustainability. The company is also planning a 2% increase in net sales for 2025 and expects gross margins for its Fresh and Value Added Segment to be between 10-11%.
CEO Mohammad Abu-Ghazaleh emphasized the company’s focus on pineapples, highlighting Fresh Del Monte’s unique position as the only producer of fresh pineapples on four continents. Meanwhile, CFO Monica Vicente expressed cautious optimism about the company’s future, noting the potential impact of international tariffs on its operations.
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