Dole PLC $DOLE Shares Sold by Voya Investment Management LLC

Voya Investment Management LLC decreased its stake in shares of Dole PLC (NYSE:DOLE) by 29.8% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 200,283 shares of the company’s stock after selling 84,910 shares during the quarter. Voya Investment Management LLC’s holdings in Dole were worth $2,692,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. SummerHaven Investment Management LLC raised its stake in Dole by 1.6% during the second 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. grew its position in shares of Dole by 120.8% in the 2nd 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. State of Wyoming increased its holdings in shares of Dole by 4.2% in the 1st quarter. State of Wyoming now owns 28,570 shares of the company’s stock valued at $413,000 after acquiring an additional 1,142 shares during the last quarter. Waterfront Wealth Inc. raised its position in shares of Dole by 1.3% during the 2nd quarter. Waterfront Wealth Inc. now owns 95,034 shares of the company’s stock valued at $1,330,000 after acquiring an additional 1,241 shares in the last quarter. Finally, Engineers Gate Manager LP lifted its stake in Dole by 1.0% during the second quarter. Engineers Gate Manager LP now owns 185,475 shares of the company’s stock worth $2,595,000 after purchasing an additional 1,756 shares during the last quarter.

Dole Stock Performance

Shares of DOLE opened at $15.06 on Friday. The firm has a fifty day moving average of $14.12 and a 200-day moving average of $13.97. The company has a market cap of $1.43 billion, a price-to-earnings ratio of 100.39, a price-to-earnings-growth ratio of 2.85 and a beta of 0.64. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.90 and a current ratio of 1.21. Dole PLC has a 1 year low of $12.20 and a 1 year high of $15.73.

Dole (NYSE:DOLE) last released its quarterly earnings data on Monday, November 10th. The company reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.01). The firm had revenue of $2.28 billion during the quarter, compared to analyst estimates of $2.25 billion. Dole had a return on equity of 7.98% and a net margin of 0.17%.The firm’s revenue was up 10.5% on a year-over-year basis. During the same period last year, the business earned $0.19 EPS. As a group, equities analysts anticipate that Dole PLC will post 1.19 earnings per share for the current year.

Dole declared that its Board of Directors has initiated a share repurchase program on Monday, November 10th that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the company to repurchase up to 8.3% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Dole Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 6th. Shareholders of record on Tuesday, December 9th will be paid a $0.085 dividend. The ex-dividend date is Tuesday, December 9th. This represents a $0.34 annualized dividend and a dividend yield of 2.3%. Dole’s dividend payout ratio (DPR) is presently 226.67%.

Analysts Set New Price Targets

DOLE has been the subject of several recent research reports. Wall Street Zen upgraded shares of Dole from a “hold” rating to a “buy” rating in a research note on Saturday, December 13th. Stephens assumed coverage on shares of Dole in a report on Friday, September 12th. They issued an “equal weight” rating and a $16.00 price target for the company. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Dole in a research report on Monday, December 22nd. Two equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $16.00.

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.