Weiss Asset Management LP Makes New Investment in Dole PLC $DOLE

Weiss Asset Management LP purchased a new position in shares of Dole PLC (NYSE:DOLE) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 60,016 shares of the company’s stock, valued at approximately $858,000. Weiss Asset Management LP owned approximately 0.06% of Dole as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of DOLE. Signaturefd LLC raised its position in shares of Dole by 190.2% during the fourth quarter. Signaturefd LLC now owns 1,680 shares of the company’s stock worth $25,000 after purchasing an additional 1,101 shares during the period. Osaic Holdings Inc. lifted its holdings 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 purchasing an additional 1,004 shares in the last quarter. NewEdge Advisors LLC grew its position in Dole by 269.0% in the 2nd quarter. NewEdge Advisors LLC now owns 3,716 shares of the company’s stock valued at $52,000 after purchasing an additional 2,709 shares during the period. V Square Quantitative Management LLC bought a new stake in Dole during the 4th quarter valued at $53,000. Finally, Aster Capital Management DIFC Ltd bought a new stake in Dole during the 4th quarter valued at $58,000.

Analyst Ratings Changes

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

Dole Price Performance

DOLE opened at $14.04 on Tuesday. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.25 and a quick ratio of 0.91. The company has a market capitalization of $1.34 billion, a price-to-earnings ratio of 31.21, a P/E/G ratio of 1.58 and a beta of 0.63. The firm’s fifty day moving average price is $14.14 and its two-hundred day moving average price is $14.76. Dole PLC has a 1 year low of $12.52 and a 1 year high of $16.57.

Dole (NYSE:DOLE) last announced its earnings results on Monday, May 11th. The company reported $0.33 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.03). Dole had a net margin of 0.46% and a return on equity of 7.63%. The firm had revenue of $2.34 billion during the quarter, compared to analysts’ expectations of $2.23 billion. During the same quarter in the prior year, the company earned $0.35 EPS. The business’s revenue for the quarter was up 11.6% on a year-over-year basis. As a group, analysts anticipate that Dole PLC will post 1.39 earnings per share for the current fiscal year.

Dole Announces Dividend

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

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.