Dole (NYSE:DOLE) Hits New 12-Month High – Time to Buy?

Dole PLC (NYSE:DOLE)’s stock price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $15.75 and last traded at $15.75, with a volume of 684487 shares. The stock had previously closed at $15.32.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Wall Street Zen raised 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 equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Dole presently has an average rating of “Hold” and an average price target of $16.00.

Dole Trading Up 2.8%

The stock has a market capitalization of $1.50 billion, a PE ratio of 105.00, a price-to-earnings-growth ratio of 1.88 and a beta of 0.64. The company has a current ratio of 1.21, a quick ratio of 0.90 and a debt-to-equity ratio of 0.60. The firm has a 50-day moving average price of $14.76 and a 200-day moving average price of $14.08.

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

Dole Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 6th. Investors of record on Tuesday, December 9th were issued a $0.085 dividend. The ex-dividend date of this dividend was Tuesday, December 9th. This represents a $0.34 annualized dividend and a yield of 2.2%. Dole’s dividend payout ratio (DPR) is 226.67%.

Dole announced that its Board of Directors has initiated a share buyback plan on Monday, November 10th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the company to repurchase up to 8.3% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its stock is undervalued.

Hedge Funds Weigh In On Dole

Large investors have recently modified their holdings of the business. SummerHaven Investment Management LLC lifted its stake in shares of Dole by 1.6% during the 2nd quarter. SummerHaven Investment Management LLC now owns 63,536 shares of the company’s stock valued at $889,000 after buying an additional 989 shares in the last quarter. Osaic Holdings Inc. lifted its position in shares of Dole by 120.8% during the second quarter. Osaic Holdings Inc. now owns 1,835 shares of the company’s stock worth $26,000 after acquiring an additional 1,004 shares in the last quarter. Signaturefd LLC boosted its holdings in shares of Dole by 190.2% in the fourth quarter. Signaturefd LLC now owns 1,680 shares of the company’s stock worth $25,000 after acquiring an additional 1,101 shares during the period. Waterfront Wealth Inc. boosted its holdings in shares of Dole by 1.3% in the second quarter. Waterfront Wealth Inc. now owns 95,034 shares of the company’s stock worth $1,330,000 after acquiring an additional 1,241 shares during the period. Finally, Engineers Gate Manager LP grew its position in shares of Dole by 1.0% in the second quarter. Engineers Gate Manager LP now owns 185,475 shares of the company’s stock valued at $2,595,000 after purchasing an additional 1,756 shares in the last quarter.

About Dole

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.