Pale Fire Capital SE Boosts Stock Holdings in Dole PLC $DOLE

Pale Fire Capital SE grew its stake in Dole PLC (NYSE:DOLE) by 0.6% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,427,476 shares of the company’s stock after buying an additional 54,700 shares during the period. Dole makes up approximately 11.5% of Pale Fire Capital SE’s holdings, making the stock its 2nd biggest position. Pale Fire Capital SE owned about 9.91% of Dole worth $134,719,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. AQR Capital Management LLC raised its stake in shares of Dole by 28.5% in the 1st quarter. AQR Capital Management LLC now owns 48,685 shares of the company’s stock valued at $703,000 after acquiring an additional 10,793 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Dole by 4.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 44,593 shares of the company’s stock worth $644,000 after purchasing an additional 1,879 shares during the period. Millennium Management LLC bought a new stake in Dole during the first quarter worth approximately $6,749,000. Jane Street Group LLC grew its holdings in Dole by 87.6% during the first quarter. Jane Street Group LLC now owns 213,786 shares of the company’s stock valued at $3,089,000 after purchasing an additional 99,842 shares during the last quarter. Finally, Legal & General Group Plc grew its holdings in Dole by 96.4% during the second quarter. Legal & General Group Plc now owns 22,106 shares of the company’s stock valued at $309,000 after purchasing an additional 10,849 shares during the last quarter.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on DOLE. Zacks Research upgraded shares of Dole from a “strong sell” rating to a “hold” rating in a research note on Monday, July 13th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $15.00 target price (down from $18.00) on shares of Dole in a research note on Monday, March 30th. Finally, Weiss Ratings downgraded shares of Dole from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, April 29th. Four research analysts have rated the stock with a Hold rating, According to MarketBeat, Dole currently has a consensus rating of “Hold” and a consensus price target of $15.50.

Dole Price Performance

Shares of NYSE:DOLE opened at $14.16 on Friday. The business has a 50 day moving average price of $14.14 and a 200 day moving average price of $14.75. Dole PLC has a twelve month low of $12.52 and a twelve month high of $16.57. The company has a market cap of $1.35 billion, a price-to-earnings ratio of 31.48, a PEG ratio of 1.57 and a beta of 0.63. The company has a quick ratio of 0.91, a current ratio of 1.25 and a debt-to-equity ratio of 0.59.

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

Dole Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 8th. Stockholders of record on Wednesday, June 17th were given a $0.085 dividend. This represents a $0.34 annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend was Wednesday, June 17th. Dole’s dividend payout ratio is currently 75.56%.

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.