Dole PLC (NYSE:DOLE) Short Interest Update

Dole PLC (NYSE:DOLE) was the recipient of a significant decline in short interest during the month of December. As of December 15th, there was short interest totaling 1,103,944 shares, a decline of 16.8% from the November 30th total of 1,326,230 shares. Based on an average daily trading volume, of 1,048,844 shares, the days-to-cover ratio is currently 1.1 days. Currently, 1.2% of the company’s stock are sold short. Currently, 1.2% of the company’s stock are sold short. Based on an average daily trading volume, of 1,048,844 shares, the days-to-cover ratio is currently 1.1 days.

Institutional Investors Weigh In On Dole

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Hsbc Holdings PLC acquired a new position in shares of Dole during the first quarter worth approximately $246,000. Quarry LP acquired a new position in Dole during the 1st quarter worth $77,000. Cubist Systematic Strategies LLC bought a new position in Dole in the 1st quarter valued at $688,000. PDT Partners LLC increased its stake in shares of Dole by 8.5% in the 1st quarter. PDT Partners LLC now owns 129,482 shares of the company’s stock valued at $1,871,000 after buying an additional 10,183 shares during the period. Finally, AQR Capital Management LLC raised its position in shares of Dole by 28.5% during the first quarter. AQR Capital Management LLC now owns 48,685 shares of the company’s stock worth $703,000 after acquiring an additional 10,793 shares during the last quarter.

Analyst Ratings Changes

DOLE has been the topic of a number of recent research reports. Stephens began coverage on Dole in a research note on Friday, September 12th. They issued an “equal weight” rating and a $16.00 target price on the stock. Wall Street Zen raised shares of Dole from a “hold” rating to a “buy” rating in a report on Saturday, December 13th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Dole in a report on Monday. Two analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $16.00.

Dole Trading Up 0.6%

Shares of DOLE stock opened at $15.02 on Friday. The firm’s fifty day simple moving average is $14.27 and its 200 day simple moving average is $14.00. The firm has a market capitalization of $1.43 billion, a P/E ratio of 100.13, a price-to-earnings-growth ratio of 2.84 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. Dole has a 1 year low of $12.20 and a 1 year high of $15.73.

Dole (NYSE:DOLE) last posted its quarterly earnings results on Monday, November 10th. The company reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by ($0.01). The business 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 business’s revenue for the quarter was up 10.5% on a year-over-year basis. During the same period last year, the company earned $0.19 EPS. As a group, sell-side analysts predict that Dole will post 1.19 EPS for the current year.

Dole Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 6th. Investors of record on Tuesday, December 9th will be issued a dividend of $0.085 per share. This represents a $0.34 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend is Tuesday, December 9th. Dole’s dividend payout ratio (DPR) is currently 226.67%.

Dole declared that its board has approved a share repurchase program on Monday, November 10th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the company to buy up to 8.3% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board believes its shares are undervalued.

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.