SummerHaven Investment Management LLC Makes New Investment in Dole PLC $DOLE

SummerHaven Investment Management LLC acquired a new stake in Dole PLC (NYSE:DOLE) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 61,491 shares of the company’s stock, valued at approximately $782,000. SummerHaven Investment Management LLC owned 0.07% of Dole as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. CoreCap Advisors LLC lifted its position in shares of Dole by 13.2% during the 2nd quarter. CoreCap Advisors LLC now owns 6,902 shares of the company’s stock valued at $95,000 after acquiring an additional 803 shares during the last quarter. Amiral Gestion boosted its stake in shares of Dole by 5.5% during the 1st quarter. Amiral Gestion now owns 19,180 shares of the company’s stock worth $276,000 after acquiring an additional 1,000 shares in the last quarter. Keybank National Association OH grew its holdings in shares of Dole by 4.3% in the 1st quarter. Keybank National Association OH now owns 31,607 shares of the company’s stock worth $452,000 after acquiring an additional 1,300 shares during the last quarter. Lesa Sroufe & Co grew its holdings in shares of Dole by 1.1% in the 1st quarter. Lesa Sroufe & Co now owns 130,629 shares of the company’s stock worth $1,867,000 after acquiring an additional 1,411 shares during the last quarter. Finally, Integrated Wealth Concepts LLC acquired a new position in shares of Dole in the 2nd quarter worth $27,000.

Dole Price Performance

NYSE DOLE opened at $13.36 on Friday. The company has a 50 day simple moving average of $13.29 and a 200-day simple moving average of $14.01. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.28 and a quick ratio of 0.98. The firm has a market capitalization of $1.26 billion, a price-to-earnings ratio of 21.54, a price-to-earnings-growth ratio of 1.46 and a beta of 0.66. Dole PLC has a 52-week low of $12.52 and a 52-week high of $16.57.

Dole (NYSE:DOLE) last posted its quarterly earnings results on Monday, August 10th. The company reported $0.46 EPS for the quarter, hitting the consensus estimate of $0.46. Dole had a net margin of 0.63% and a return on equity of 7.06%. The business had revenue of $2.50 billion during the quarter, compared to analysts’ expectations of $2.53 billion. During the same period last year, the company posted $0.55 earnings per share. The firm’s quarterly revenue was up 2.9% compared to the same quarter last year. Equities research analysts predict that Dole PLC will post 1.34 earnings per share for the current fiscal year.

Dole Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 7th. Shareholders of record on Wednesday, September 16th were given a $0.0850 dividend. The ex-dividend date was Wednesday, September 16th. This represents a $0.34 dividend on an annualized basis and a yield of 2.5%. Dole’s dividend payout ratio is presently 54.84%.

Wall Street Analyst Weigh In

Several research analysts have commented on DOLE shares. Weiss Ratings cut shares of Dole from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, September 17th. Deutsche Bank Aktiengesellschaft set a $14.00 price target on shares of Dole in a report on Tuesday, August 11th. Finally, Zacks Research upgraded shares of Dole from a “strong sell” rating to a “hold” rating in a report on Monday, July 13th. Three analysts have rated the stock with a Hold rating. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $14.00.

About Dole

Dole plc is a global producer, marketer and distributor of fresh fruits and vegetables. Its product portfolio includes bananas, pineapples, berries, grapes, avocados, salads and other fresh produce, as well as packaged and value-added products in selected markets.

The company supplies retail grocery chains, wholesalers, foodservice operators and other customers through an international sourcing, farming, packing and distribution network. Its operations and customer markets span North America, Europe, Latin America and other regions around the world.

Dole plc was formed in 2021 through the combination of Dole Food Company and Total Produce.