Dole (NYSE:DOLE) Reaches New 1-Year High – Here’s What Happened

Shares of Dole PLC (NYSE:DOLE) reached a new 52-week high on Monday . The stock traded as high as $15.99 and last traded at $15.8350, with a volume of 748401 shares. The stock had previously closed at $15.86.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Wall Street Zen raised shares of Dole from a “hold” rating to a “buy” rating in a research note on Saturday, December 13th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Dole in a report on Monday, December 29th. Two analysts have rated the stock with a Hold rating, According to MarketBeat, the company has an average rating of “Hold” and an average price target of $16.00.

Dole Trading Up 0.4%

The company has a quick ratio of 0.90, a current ratio of 1.21 and a debt-to-equity ratio of 0.60. The firm’s 50-day simple moving average is $15.00 and its 200 day simple moving average is $14.17. The stock has a market capitalization of $1.54 billion, a P/E ratio of 107.83, a PEG ratio of 1.97 and a beta of 0.64.

Dole (NYSE:DOLE) last released its earnings results on Monday, November 10th. The company reported $0.16 EPS for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.01). Dole had a return on equity of 7.98% and a net margin of 0.17%.The business had revenue of $2.28 billion during the quarter, compared to the consensus estimate of $2.25 billion. During the same quarter in the previous year, the firm earned $0.19 earnings per share. The firm’s revenue for the quarter was up 10.5% compared to the same quarter last year. Equities research analysts anticipate that Dole PLC will post 1.19 EPS for the current fiscal year.

Dole Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 6th. Stockholders of record on Tuesday, December 9th were given a dividend of $0.085 per share. This represents a $0.34 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date was Tuesday, December 9th. Dole’s dividend payout ratio is 226.67%.

Dole announced that its board has authorized a stock repurchase program on Monday, November 10th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the company to repurchase up to 8.3% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

Institutional Investors Weigh In On Dole

Several hedge funds have recently modified their holdings of the stock. Signaturefd LLC increased its stake in Dole by 190.2% in the 4th quarter. Signaturefd LLC now owns 1,680 shares of the company’s stock worth $25,000 after purchasing an additional 1,101 shares in the last quarter. Osaic Holdings Inc. boosted its holdings in shares of Dole by 120.8% in the second quarter. Osaic Holdings Inc. now owns 1,835 shares of the company’s stock worth $26,000 after buying an additional 1,004 shares during the period. Westfuller Advisors LLC purchased a new position in shares of Dole in the third quarter worth approximately $49,000. State of Alaska Department of Revenue purchased a new position in shares of Dole in the third quarter worth approximately $50,000. Finally, NewEdge Advisors LLC raised its holdings in shares of Dole by 269.0% during the second quarter. NewEdge Advisors LLC now owns 3,716 shares of the company’s stock valued at $52,000 after acquiring an additional 2,709 shares during the period.

Dole Company 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.