Dole PLC $DOLE Stock Holdings Increased by Shah Capital Management

Shah Capital Management boosted its stake in shares of Dole PLC (NYSE:DOLE) by 67.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 461,521 shares of the company’s stock after buying an additional 186,124 shares during the quarter. Dole accounts for about 1.3% of Shah Capital Management’s holdings, making the stock its 10th biggest holding. Shah Capital Management owned approximately 0.48% of Dole worth $6,918,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also made changes to their positions in the company. New York State Common Retirement Fund raised its holdings in shares of Dole by 46.4% in the 3rd quarter. New York State Common Retirement Fund now owns 233,867 shares of the company’s stock valued at $3,143,000 after buying an additional 74,096 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd increased its stake in Dole by 117.4% during the third quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 207,086 shares of the company’s stock worth $2,783,000 after purchasing an additional 111,829 shares during the period. Atlantic Investment Management Inc. purchased a new stake in Dole during the third quarter worth about $4,435,000. Invenomic Capital Management LP lifted its position in shares of Dole by 24.3% during the third quarter. Invenomic Capital Management LP now owns 1,540,959 shares of the company’s stock worth $20,710,000 after purchasing an additional 301,319 shares in the last quarter. Finally, Waterfront Wealth Inc. lifted its position in shares of Dole by 76.1% during the third quarter. Waterfront Wealth Inc. now owns 167,380 shares of the company’s stock worth $2,188,000 after purchasing an additional 72,346 shares in the last quarter.

Dole Stock Performance

Shares of DOLE opened at $14.37 on Tuesday. The company has a market capitalization of $1.37 billion, a price-to-earnings ratio of 27.11, a price-to-earnings-growth ratio of 1.20 and a beta of 0.64. Dole PLC has a 52-week low of $12.52 and a 52-week high of $16.57. The company has a quick ratio of 0.83, a current ratio of 1.17 and a debt-to-equity ratio of 0.54. The stock has a 50 day moving average price of $15.34 and a 200 day moving average price of $14.45.

Dole (NYSE:DOLE) last issued its earnings results on Wednesday, February 25th. The company reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.02. The business had revenue of $2.37 billion during the quarter, compared to analysts’ expectations of $2.32 billion. Dole had a net margin of 0.56% and a return on equity of 7.81%. The company’s revenue for the quarter was up 9.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.16 EPS. Research analysts predict that Dole PLC will post 1.19 EPS for the current fiscal year.

Dole Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 8th. Investors of record on Wednesday, March 18th will be paid a dividend of $0.085 per share. This represents a $0.34 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date is Wednesday, March 18th. Dole’s dividend payout ratio (DPR) is currently 64.15%.

Analyst Ratings Changes

DOLE has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $15.00 price objective (down from $18.00) on shares of Dole in a report on Monday. Weiss Ratings reiterated a “hold (c-)” rating on shares of Dole in a report on Monday, December 29th. Finally, Wall Street Zen downgraded shares of Dole from a “buy” rating to a “hold” rating in a research note on Saturday, March 7th. Three investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $15.50.

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.