Dole (NYSE:DOLE) Shares Gap Down – What’s Next?

Dole PLC (NYSE:DOLE)’s share price gapped down prior to trading on Monday . The stock had previously closed at $13.83, but opened at $12.96. Dole shares last traded at $12.8690, with a volume of 267,803 shares.

Analysts Set New Price Targets

DOLE has been the subject of several research reports. Weiss Ratings restated a “hold (c)” rating on shares of Dole in a research report on Friday, July 24th. Zacks Research upgraded shares of Dole from a “strong sell” rating to a “hold” rating in a report on Monday, July 13th. Four equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, Dole presently has an average rating of “Hold” and a consensus target price of $15.50.

Dole Stock Down 6.9%

The stock has a fifty day moving average of $14.08 and a 200-day moving average of $14.73. The firm has a market capitalization of $1.22 billion, a price-to-earnings ratio of 28.65, a PEG ratio of 1.54 and a beta of 0.63. The company has a current ratio of 1.25, a quick ratio of 0.91 and a debt-to-equity ratio of 0.59.

Dole (NYSE:DOLE) last announced its earnings results on Monday, August 10th. The company reported $0.46 EPS for the quarter, meeting the consensus estimate of $0.46. The business had revenue of $2.50 billion during the quarter, compared to the consensus estimate of $2.53 billion. Dole had a return on equity of 7.63% and a net margin of 0.46%.Dole’s revenue was up 2.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.55 earnings per share. As a group, sell-side analysts expect that Dole PLC will post 1.39 EPS for the current year.

Institutional Trading of Dole

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

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.