CenterBook Partners LP Makes New Investment in Dole PLC $DOLE

Key Points

• CenterBook Partners LP opened a new Dole position, buying 180,387 shares worth approximately $2.29 million, or about 0.19% of the company. Several other institutional investors also added to or initiated holdings.
• Analyst sentiment is broadly positive: Dole has a “Moderate Buy” consensus rating and a $14 average price target, with ratings ranging from one Strong Buy to three Holds.
• Dole’s latest reported quarter met EPS expectations at $0.46, while revenue of $2.50 billion fell short of forecasts; revenue increased 2.9% year over year, but EPS was down from $0.55 a year earlier.

CenterBook Partners LP bought a new position in shares of Dole PLC (NYSE:DOLE - Free Report) during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund bought 180,387 shares of the company's stock, valued at approximately $2,293,000. CenterBook Partners LP owned approximately 0.19% of Dole as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in DOLE. Vise Technologies Inc. purchased a new stake in Dole during the third quarter worth about $155,000. Signaturefd LLC grew its position in Dole by 204.1% during the third quarter. Signaturefd LLC now owns 4,851 shares of the company's stock worth $62,000 after buying an additional 3,256 shares during the period. Sterling Capital Management LLC increased its holdings in Dole by 500.1% in the third quarter. Sterling Capital Management LLC now owns 9,511 shares of the company's stock valued at $121,000 after buying an additional 7,926 shares in the last quarter. Nisa Investment Advisors LLC increased its holdings in Dole by 145.4% in the third quarter. Nisa Investment Advisors LLC now owns 4,943 shares of the company's stock valued at $63,000 after buying an additional 2,929 shares in the last quarter. Finally, Investment Research Partners LLC increased its holdings in Dole by 4.1% in the third quarter. Investment Research Partners LLC now owns 59,637 shares of the company's stock valued at $758,000 after buying an additional 2,356 shares in the last quarter.

Analysts Set New Price Targets

Several brokerages have recently commented on DOLE. Freedom Broker initiated coverage on Dole in a research note on Wednesday, November 4th. They set a "strong-buy" rating on the stock. Weiss Ratings cut Dole from a "hold (c+)" rating to a "hold (c)" rating in a report on Thursday, September 17th. Deutsche Bank Aktiengesellschaft set a $14.00 price objective on Dole in a research note on Tuesday, August 11th. Finally, Zacks Research raised Dole from a "strong sell" rating to a "hold" rating in a report on Monday, July 13th. One investment analyst has rated the stock with a Strong Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $14.00.

Dole Price Performance

Dole stock opened at $13.90 on Monday. Dole PLC has a 52 week low of $12.59 and a 52 week high of $16.57. The company has a quick ratio of 0.98, a current ratio of 1.28 and a debt-to-equity ratio of 0.68. The firm's 50-day simple moving average is $13.30 and its 200 day simple moving average is $14.27. The firm has a market capitalization of $1.31 billion, a PE ratio of 22.42, a P/E/G ratio of 1.52 and a beta of 0.74.

Dole (NYSE:DOLE - Get Free Report) last issued its quarterly earnings data on Monday, August 10th. The company reported $0.46 EPS for the quarter, meeting analysts' consensus estimates of $0.46. The firm had revenue of $2.50 billion for the quarter, compared to analysts' expectations of $2.53 billion. Dole had a net margin of 0.63% and a return on equity of 7.06%. The firm's revenue was up 2.9% on a year-over-year basis. During the same period in the prior year, the company earned $0.55 EPS. On average, equities research analysts predict that Dole PLC will post 1.34 EPS for the current fiscal year.

Dole Profile

Dole plc is a global producer, marketer and distributor of fresh fruit and vegetables. The company supplies a broad portfolio of products, including bananas, pineapples, grapes, berries, citrus fruit, avocados, salads and other packaged and prepared produce. Its activities span farming, sourcing, processing, packaging, transportation and distribution.

Dole serves retail, foodservice and wholesale customers through operations and supply networks across North America, Europe, Latin America, Africa and other international markets.

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