Dole PLC $DOLE Shares Sold by Harber Asset Management LLC

Harber Asset Management LLC cut its stake in shares of Dole PLC (NYSE:DOLE) by 18.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 612,369 shares of the company’s stock after selling 135,514 shares during the quarter. Dole accounts for about 3.8% of Harber Asset Management LLC’s portfolio, making the stock its 7th largest position. Harber Asset Management LLC’s holdings in Dole were worth $9,179,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Invenomic Capital Management LP grew its holdings in shares of Dole by 24.3% during the 3rd quarter. Invenomic Capital Management LP now owns 1,540,959 shares of the company’s stock valued at $20,710,000 after purchasing an additional 301,319 shares during the last quarter. Tudor Investment Corp ET AL grew its holdings in shares of Dole by 254.6% during the 3rd quarter. Tudor Investment Corp ET AL now owns 332,609 shares of the company’s stock valued at $4,470,000 after purchasing an additional 238,819 shares during the last quarter. Atlantic Investment Management Inc. bought a new stake in shares of Dole during the 3rd quarter valued at approximately $4,435,000. SG Americas Securities LLC bought a new stake in shares of Dole during the 4th quarter valued at approximately $5,567,000. Finally, American Century Companies Inc. grew its holdings in shares of Dole by 13.6% during the 3rd quarter. American Century Companies Inc. now owns 2,078,957 shares of the company’s stock valued at $27,941,000 after purchasing an additional 248,703 shares during the last quarter.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on DOLE. Wall Street Zen lowered shares of Dole from a “buy” rating to a “hold” rating in a report on Saturday, March 7th. Weiss Ratings lowered shares of Dole from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, April 29th. Zacks Research lowered shares of Dole from a “hold” rating to a “strong sell” rating in a report on Tuesday, May 12th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $15.00 price target (down from $18.00) on shares of Dole in a report on Monday, March 30th. 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.com, Dole presently has an average rating of “Reduce” and an average target price of $15.50.

Dole Trading Up 1.9%

DOLE opened at $14.37 on Friday. Dole PLC has a twelve month low of $12.52 and a twelve month high of $16.57. The company has a quick ratio of 0.91, a current ratio of 1.25 and a debt-to-equity ratio of 0.59. The company has a fifty day moving average of $14.65 and a 200-day moving average of $14.93. The stock has a market cap of $1.37 billion, a PE ratio of 31.94, a price-to-earnings-growth ratio of 1.60 and a beta of 0.63.

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

Dole Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 8th. Shareholders of record on Wednesday, June 17th will be issued a dividend of $0.085 per share. The ex-dividend date is Wednesday, June 17th. This represents a $0.34 annualized dividend and a yield of 2.4%. Dole’s dividend payout ratio is presently 75.56%.

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.