JPMorgan Chase & Co. Cuts Stock Holdings in Dole PLC $DOLE

JPMorgan Chase & Co. lessened its holdings in Dole PLC (NYSE:DOLE) by 9.1% in the 3rd quarter, Holdings Channel.com reports. The firm owned 1,198,417 shares of the company’s stock after selling 120,378 shares during the quarter. JPMorgan Chase & Co.’s holdings in Dole were worth $16,107,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of DOLE. State of New Jersey Common Pension Fund D raised its stake in Dole by 94.4% in the third quarter. State of New Jersey Common Pension Fund D now owns 41,959 shares of the company’s stock worth $564,000 after buying an additional 20,378 shares in the last quarter. LSV Asset Management increased its holdings in shares of Dole by 2.7% in the 3rd quarter. LSV Asset Management now owns 601,400 shares of the company’s stock valued at $8,083,000 after acquiring an additional 15,900 shares during the period. Plan A Wealth LLC raised its position in shares of Dole by 39.5% in the 3rd quarter. Plan A Wealth LLC now owns 18,000 shares of the company’s stock worth $242,000 after acquiring an additional 5,099 shares in the last quarter. Impax Asset Management Group plc lifted its stake in shares of Dole by 9.8% during the 3rd quarter. Impax Asset Management Group plc now owns 1,675,545 shares of the company’s stock worth $22,519,000 after purchasing an additional 148,896 shares during the last quarter. Finally, MQS Management LLC lifted its stake in shares of Dole by 23.9% during the 3rd quarter. MQS Management LLC now owns 23,761 shares of the company’s stock worth $319,000 after purchasing an additional 4,577 shares during the last quarter.

Dole Trading Down 2.2%

Dole stock opened at $15.46 on Wednesday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.90 and a current ratio of 1.21. The stock has a market cap of $1.47 billion, a PE ratio of 29.17, a price-to-earnings-growth ratio of 1.28 and a beta of 0.64. The stock has a 50-day moving average of $15.37 and a two-hundred day moving average of $14.40. Dole PLC has a one year low of $12.52 and a one year high of $16.57.

Dole (NYSE:DOLE) last posted its quarterly earnings data 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 firm had revenue of $2.37 billion for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.16 earnings per share. On average, research analysts anticipate that Dole PLC will post 1.19 EPS for the current fiscal year.

Dole Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 8th. Shareholders of record on Wednesday, March 18th will be issued a $0.085 dividend. The ex-dividend date of this dividend is Wednesday, March 18th. This represents a $0.34 dividend on an annualized basis and a dividend yield of 2.2%. Dole’s dividend payout ratio (DPR) is currently 64.15%.

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

Analyst Upgrades and Downgrades

DOLE has been the subject of a number of recent research reports. Wall Street Zen upgraded shares of Dole from a “hold” rating to a “buy” rating in a report on Saturday, December 13th. Weiss Ratings restated a “hold (c-)” rating on shares of Dole in a report on Monday, December 29th. Two research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $16.00.

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.