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

Weiss Asset Management LP acquired a new stake in Dole PLC (NYSE:DOLE) in the first quarter, Holdings Channel.com reports. The institutional investor acquired 60,016 shares of the company’s stock, valued at approximately $858,000.

Other large investors have also recently made changes to their positions in the company. Entropy Technologies LP raised its stake in shares of Dole by 68.8% during the 1st quarter. Entropy Technologies LP now owns 42,516 shares of the company’s stock worth $608,000 after purchasing an additional 17,325 shares during the period. Renaissance Technologies LLC grew its position in Dole by 24.8% during the first quarter. Renaissance Technologies LLC now owns 753,774 shares of the company’s stock valued at $10,771,000 after buying an additional 149,674 shares during the period. Pale Fire Capital SE grew its position in Dole by 0.6% during the first quarter. Pale Fire Capital SE now owns 9,427,476 shares of the company’s stock valued at $134,719,000 after buying an additional 54,700 shares during the period. State of Wyoming purchased a new stake in Dole during the first quarter worth about $62,000. Finally, Dimensional Fund Advisors LP raised its position in Dole by 15.2% in the first quarter. Dimensional Fund Advisors LP now owns 4,999,095 shares of the company’s stock worth $71,438,000 after acquiring an additional 659,892 shares during the period.

Dole Stock Performance

Dole stock opened at $14.04 on Tuesday. The firm’s 50 day simple moving average is $14.14 and its 200 day simple moving average is $14.76. The company has a current ratio of 1.25, a quick ratio of 0.91 and a debt-to-equity ratio of 0.59. The firm has a market capitalization of $1.34 billion, a PE ratio of 31.21, a price-to-earnings-growth ratio of 1.58 and a beta of 0.63. Dole PLC has a 1-year low of $12.52 and a 1-year high of $16.57.

Dole (NYSE:DOLE) last posted its earnings results on Monday, May 11th. The company reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.03). Dole had a return on equity of 7.63% and a net margin of 0.46%.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 earnings per share. The business’s revenue for the quarter was up 11.6% compared to the same quarter last year. As a group, analysts expect that Dole PLC will post 1.39 earnings per share for the current fiscal year.

Dole Announces Dividend

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

Wall Street Analyst Weigh In

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

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.