Dole (NYSE:DOLE) Posts Earnings Results, Hits Estimates

Key Points

• Dole’s quarterly EPS was $0.46, matching analysts’ consensus estimate, while revenue of $2.50 billion fell short of expectations of $2.53 billion.
• Dole shares opened at $13.80 and were down 0.2%; the stock has traded between $12.52 and $16.57 over the past year and has a market capitalization of approximately $1.31 billion.
• Analysts maintain a generally cautious view, with four Hold ratings, an overall “Hold” consensus, and an average price target of $15.50. Several institutional investors recently increased their positions in the company.

Dole (NYSE:DOLE - Get Free Report) released its earnings results on Monday. The company reported $0.46 EPS for the quarter, meeting analysts' consensus estimates of $0.46, FiscalAI reports. The company had revenue of $2.50 billion during the quarter, compared to analysts' expectations of $2.53 billion. Dole had a return on equity of 7.63% and a net margin of 0.46%.

Dole Trading Down 0.2%

NYSE:DOLE opened at $13.80 on Monday. The stock has a market cap of $1.31 billion, a price-to-earnings ratio of 30.68, a PEG ratio of 1.54 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. The company's 50 day moving average price is $14.08 and its 200-day moving average price is $14.73. Dole has a 52 week low of $12.52 and a 52 week high of $16.57.

Institutional Trading of Dole

Institutional investors have recently added to or reduced their stakes in the business. AQR Capital Management LLC lifted its holdings in shares of Dole by 28.5% during the first quarter. AQR Capital Management LLC now owns 48,685 shares of the company's stock valued at $703,000 after purchasing an additional 10,793 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Dole by 4.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 44,593 shares of the company's stock worth $644,000 after buying an additional 1,879 shares during the last quarter. Millennium Management LLC bought a new position in Dole during the 1st quarter valued at about $6,749,000. Jane Street Group LLC lifted its stake in Dole by 87.6% during the 1st quarter. Jane Street Group LLC now owns 213,786 shares of the company's stock valued at $3,089,000 after acquiring an additional 99,842 shares during the period. Finally, Legal & General Group Plc boosted its holdings in shares of Dole by 96.4% during the 2nd quarter. Legal & General Group Plc now owns 22,106 shares of the company's stock valued at $309,000 after acquiring an additional 10,849 shares during the last quarter.

Wall Street Analyst Weigh In

DOLE has been the subject of several recent research reports. Weiss Ratings reissued 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 research note on Monday, July 13th. Four equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, Dole currently has an average rating of "Hold" and an average price target of $15.50.

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.

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