Dole PLC $DOLE Shares Purchased by Invenomic Capital Management LP

Invenomic Capital Management LP boosted its position in Dole PLC (NYSE:DOLE) by 24.3% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 1,540,959 shares of the company’s stock after acquiring an additional 301,319 shares during the period. Invenomic Capital Management LP’s holdings in Dole were worth $20,710,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Victory Capital Management Inc. lifted its stake in shares of Dole by 30.6% during the 3rd quarter. Victory Capital Management Inc. now owns 4,938,971 shares of the company’s stock worth $66,380,000 after purchasing an additional 1,155,983 shares during the period. Balyasny Asset Management L.P. purchased a new stake in shares of Dole in the third quarter valued at $10,924,000. Panview Capital Ltd acquired a new position in Dole in the third quarter valued at $9,408,000. Algert Global LLC increased its stake in Dole by 2,173.6% in the third quarter. Algert Global LLC now owns 595,869 shares of the company’s stock valued at $8,008,000 after purchasing an additional 569,661 shares during the last quarter. Finally, Fort Baker Capital Management LP purchased a new position in Dole during the third quarter worth about $7,469,000.

Wall Street Analysts Forecast Growth

Several analysts have commented on DOLE shares. Weiss Ratings restated a “hold (c-)” rating on shares of Dole in a report on Monday, December 29th. Wall Street Zen downgraded shares of Dole from a “buy” rating to a “hold” rating in a research note on Saturday, March 7th. Two analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $16.00.

Dole Trading Down 0.3%

Shares of DOLE opened at $14.36 on Monday. Dole PLC has a 12 month low of $12.52 and a 12 month high of $16.57. The stock’s 50-day moving average is $15.35 and its two-hundred day moving average is $14.42. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.17 and a quick ratio of 0.83. The stock has a market cap of $1.37 billion, a PE ratio of 27.09, a P/E/G ratio of 1.17 and a beta of 0.64.

Dole (NYSE:DOLE) last posted its earnings results on Wednesday, February 25th. The company reported $0.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.12 by $0.02. The business had revenue of $2.37 billion during the quarter, compared to analyst estimates of $2.32 billion. Dole had a return on equity of 7.81% and a net margin of 0.56%.The company’s revenue for the quarter was up 9.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.16 earnings per share. Equities analysts forecast that Dole PLC will post 1.19 earnings per share for the current fiscal year.

Dole Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 8th. Shareholders of record on Wednesday, March 18th will be given a $0.085 dividend. The ex-dividend date of this dividend is Wednesday, March 18th. This represents a $0.34 annualized dividend and a yield of 2.4%. Dole’s dividend payout ratio (DPR) is 64.15%.

Dole Profile

Dole plc is a global producer, marketer and distributor of fresh fruits and vegetables. The company’s product range includes bananas, pineapples, berries, grapes, salads and a variety of other fresh and packaged produce, sold under the Dole brand and through private-label arrangements. Dole’s operations span the full fresh-produce value chain, from farming and sourcing to packing, ripening, cold?chain logistics and wholesale and retail distribution, supporting both retail grocery and foodservice customers.

The company traces its commercial heritage to the early 20th century Hawaiian pineapple business founded by James Dole and has evolved through subsequent corporate restructurings and combinations.