Dole PLC $DOLE Shares Bought by Northwestern Mutual Wealth Management Co.

Northwestern Mutual Wealth Management Co. boosted its position in shares of Dole PLC (NYSE:DOLE) by 273,334.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 150,389 shares of the company’s stock after buying an additional 150,334 shares during the quarter. Northwestern Mutual Wealth Management Co. owned approximately 0.16% of Dole worth $2,254,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Victory Capital Management Inc. grew its position in shares of Dole by 30.6% in the third quarter. Victory Capital Management Inc. now owns 4,938,971 shares of the company’s stock valued at $66,380,000 after purchasing an additional 1,155,983 shares during the period. Balyasny Asset Management L.P. acquired a new stake in shares of Dole in the third quarter valued at about $10,924,000. Panview Capital Ltd acquired a new stake in shares of Dole in the third quarter valued at about $9,408,000. Algert Global LLC grew its position in shares of 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 period. Finally, Fort Baker Capital Management LP acquired a new stake in shares of Dole in the third quarter valued at about $7,469,000.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on DOLE shares. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $15.00 target price (down from $18.00) on shares of Dole in a research report on Monday, March 30th. Zacks Research lowered shares of Dole from a “hold” rating to a “strong sell” rating in a research report on Tuesday, May 12th. Wall Street Zen lowered shares of Dole from a “buy” rating to a “hold” rating in a research report on Saturday, March 7th. Finally, Weiss Ratings lowered shares of Dole from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, April 29th. Three analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Reduce” and an average price target of $15.50.

Dole Stock Performance

NYSE:DOLE opened at $14.03 on Friday. The company’s 50-day moving average price is $14.68 and its 200-day moving average price is $14.92. The company has a current ratio of 1.25, a quick ratio of 0.91 and a debt-to-equity ratio of 0.59. The company has a market cap of $1.33 billion, a P/E ratio of 31.17, a P/E/G ratio of 1.55 and a beta of 0.63. Dole PLC has a twelve month low of $12.52 and a twelve month high of $16.57.

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

Dole Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 8th. Stockholders of record on Wednesday, June 17th will be issued 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 dividend 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.