Dole PLC $DOLE Shares Bought by Tudor Investment Corp ET AL

Key Points

• Tudor Investment Corp increased its stake in Dole by 254.6% in Q3, acquiring an additional 238,819 shares and holding 332,609 shares (about 0.35% of the company) valued at $4.47 million.
• DOLE has a consensus analyst rating of Hold with a $15.50 consensus price target; Deutsche Bank recently cut its target to $15.00 and some firms downgraded the stock from Buy to Hold.
• Dole reported quarterly $0.14 EPS versus $0.12 expected and revenue of $2.37 billion (up 9.2% year-over-year), and declared a quarterly dividend of $0.085 (annualized $0.34, ~2.2% yield).

Tudor Investment Corp ET AL raised its holdings in Dole PLC (NYSE:DOLE - Free Report) by 254.6% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 332,609 shares of the company's stock after purchasing an additional 238,819 shares during the period. Tudor Investment Corp ET AL owned about 0.35% of Dole worth $4,470,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in DOLE. Osaic Holdings Inc. raised its position in shares of Dole by 120.8% in the 2nd quarter. Osaic Holdings Inc. now owns 1,835 shares of the company's stock valued at $26,000 after purchasing an additional 1,004 shares in the last quarter. Westfuller Advisors LLC acquired a new stake in shares of Dole in the 3rd quarter valued at about $49,000. State of Alaska Department of Revenue acquired a new stake in shares of Dole in the 3rd quarter valued at about $50,000. NewEdge Advisors LLC raised its stake in shares of 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 in the last quarter. Finally, CWM LLC raised its stake in shares of Dole by 62.0% in the 3rd quarter. CWM LLC now owns 10,101 shares of the company's stock valued at $136,000 after purchasing an additional 3,867 shares in the last quarter.

Wall Street Analysts Forecast Growth

DOLE has been the topic of a number of recent analyst reports. Weiss Ratings restated a "hold (c-)" rating on shares of Dole in a research note on Monday, December 29th. Wall Street Zen lowered shares of Dole from a "buy" rating to a "hold" rating in a research note on Saturday, March 7th. Finally, Deutsche Bank Aktiengesellschaft reissued a "hold" rating and set a $15.00 price target (down from $18.00) on shares of Dole in a research report on Monday, March 30th. Three research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, Dole currently has a consensus rating of "Hold" and a consensus price target of $15.50.

Dole Price Performance

Shares of NYSE:DOLE opened at $15.54 on Friday. The firm's 50 day moving average is $15.24 and its two-hundred day moving average is $14.50. Dole PLC has a 52 week low of $12.52 and a 52 week high of $16.57. The firm has a market capitalization of $1.48 billion, a P/E ratio of 29.33, a PEG ratio of 1.28 and a beta of 0.67. The company has a current ratio of 1.17, a quick ratio of 0.83 and a debt-to-equity ratio of 0.54.

Dole (NYSE:DOLE - Get Free Report) last issued its quarterly earnings results on Wednesday, February 25th. The company reported $0.14 EPS for the quarter, beating analysts' consensus estimates of $0.12 by $0.02. The company had revenue of $2.37 billion for the quarter, compared to analyst estimates of $2.32 billion. Dole had a return on equity of 7.81% and a net margin of 0.56%.The company's quarterly revenue was up 9.2% compared to the same quarter last year. During the same period last year, the company earned $0.16 earnings per share. Analysts anticipate that Dole PLC will post 1.19 earnings per share for the current year.

Dole Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 8th. Stockholders of record on Wednesday, March 18th were issued a dividend of $0.085 per share. This represents a $0.34 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend was Wednesday, March 18th. Dole's dividend payout ratio (DPR) is 64.15%.

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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