Harber Asset Management LLC Has $9.18 Million Stock Holdings in Dole PLC $DOLE

Harber Asset Management LLC lowered its holdings in Dole PLC (NYSE:DOLE) by 18.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 612,369 shares of the company’s stock after selling 135,514 shares during the period. Dole comprises about 3.8% of Harber Asset Management LLC’s portfolio, making the stock its 7th largest holding. Harber Asset Management LLC owned 0.64% of Dole worth $9,179,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Invenomic Capital Management LP grew its position in Dole by 24.3% in the third quarter. Invenomic Capital Management LP now owns 1,540,959 shares of the company’s stock valued at $20,710,000 after purchasing an additional 301,319 shares in the last quarter. Tudor Investment Corp ET AL grew its position in Dole by 254.6% in the third quarter. Tudor Investment Corp ET AL now owns 332,609 shares of the company’s stock valued at $4,470,000 after purchasing an additional 238,819 shares in the last quarter. Atlantic Investment Management Inc. bought a new position in Dole in the third quarter valued at $4,435,000. SG Americas Securities LLC bought a new position in Dole in the fourth quarter valued at $5,567,000. Finally, American Century Companies Inc. grew its position in Dole by 13.6% in the third quarter. American Century Companies Inc. now owns 2,078,957 shares of the company’s stock valued at $27,941,000 after purchasing an additional 248,703 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Zacks Research downgraded shares of Dole from a “hold” rating to a “strong sell” rating in a research report on Tuesday, May 12th. Weiss Ratings cut shares of Dole from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, April 29th. Wall Street Zen downgraded shares of Dole from a “buy” rating to a “hold” rating in a research report on Saturday, March 7th. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $15.00 price objective (down from $18.00) on shares of Dole in a research report on Monday, March 30th. Three research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Dole presently has a consensus rating of “Reduce” and an average target price of $15.50.

Dole Stock Performance

NYSE DOLE opened at $14.37 on Friday. The company has a quick ratio of 0.91, a current ratio of 1.25 and a debt-to-equity ratio of 0.59. The company has a market capitalization of $1.37 billion, a P/E ratio of 31.94, a P/E/G ratio of 1.60 and a beta of 0.63. Dole PLC has a 12-month low of $12.52 and a 12-month high of $16.57. The firm has a 50-day moving average price of $14.65 and a two-hundred day moving average price of $14.93.

Dole (NYSE:DOLE) last posted its quarterly earnings data on Monday, May 11th. The company reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.03). The business had revenue of $2.34 billion during the quarter, compared to the consensus estimate of $2.23 billion. Dole had a net margin of 0.46% and a return on equity of 7.63%. The business’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.35 EPS. Analysts anticipate that Dole PLC will post 1.39 earnings per share for the current year.

Dole Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 8th. Stockholders of record on Wednesday, June 17th will be given a $0.085 dividend. The ex-dividend date is Wednesday, June 17th. This represents a $0.34 annualized dividend and a dividend yield of 2.4%. Dole’s payout ratio is presently 75.56%.

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.