SummerHaven Investment Management LLC Makes New $782,000 Investment in Dole PLC $DOLE

SummerHaven Investment Management LLC bought a new stake in Dole PLC (NYSE:DOLE) during the third quarter, Holdings Channel reports. The institutional investor bought 61,491 shares of the company’s stock, valued at approximately $782,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of DOLE. Dimensional Fund Advisors LP increased its position in Dole by 15.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 4,999,095 shares of the company’s stock worth $71,438,000 after buying an additional 659,892 shares during the period. SG Americas Securities LLC lifted its holdings in shares of Dole by 46.1% during the first quarter. SG Americas Securities LLC now owns 542,400 shares of the company’s stock worth $7,751,000 after buying an additional 171,049 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Dole by 24.8% during the first quarter. Renaissance Technologies LLC now owns 753,774 shares of the company’s stock worth $10,771,000 after buying an additional 149,674 shares during the last quarter. Y Intercept Hong Kong Ltd lifted its holdings in shares of Dole by 784.5% during the first quarter. Y Intercept Hong Kong Ltd now owns 125,705 shares of the company’s stock worth $1,796,000 after buying an additional 111,493 shares during the last quarter. Finally, Weiss Asset Management LP bought a new stake in shares of Dole in the first quarter valued at approximately $858,000.

Dole Stock Down 0.4%

Shares of 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 firm has a market capitalization of $1.26 billion, a P/E ratio of 21.54, a P/E/G ratio of 1.46 and a beta of 0.66. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.98 and a current ratio of 1.28. Dole PLC has a 52 week low of $12.52 and a 52 week high of $16.57.

Dole (NYSE:DOLE) last released its earnings results on Monday, August 10th. The company reported $0.46 earnings per share for the quarter, meeting 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 quarter last year, the company earned $0.55 earnings per share. The firm’s revenue was up 2.9% on a year-over-year basis. On average, equities research analysts expect that Dole PLC will post 1.34 earnings per share for the current year.

Dole Announces Dividend

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

Analyst Upgrades and Downgrades

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