Dole PLC $DOLE Shares Sold by Impax Asset Management Group plc

Key Points

• Impax Asset Management trimmed its stake in Dole by 5.4% in Q4, selling 91,071 shares and now owning 1,584,474 shares (about 1.67% of the company, valued at ~$23.8M).
• Dole's latest quarter beat expectations with $0.14 EPS versus $0.12 expected and $2.37B in revenue (up 9.2% year-over-year); the company has a market cap of $1.44B and a P/E of 28.5.
• Dole pays a quarterly dividend of $0.085 (annualized $0.34) for a 2.3% yield, while analysts hold a consensus "Hold" rating with an average price target of $15.50.

Impax Asset Management Group plc cut its stake in Dole PLC (NYSE:DOLE - Free Report) by 5.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,584,474 shares of the company's stock after selling 91,071 shares during the period. Impax Asset Management Group plc owned 1.67% of Dole worth $23,751,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in DOLE. Victory Capital Management Inc. increased its position in Dole by 30.6% in the third quarter. Victory Capital Management Inc. now owns 4,938,971 shares of the company's stock worth $66,380,000 after buying an additional 1,155,983 shares during the period. Balyasny Asset Management L.P. acquired a new stake in Dole in the third quarter worth $10,924,000. Panview Capital Ltd acquired a new stake in Dole in the third quarter worth $9,408,000. Algert Global LLC increased its position in Dole by 2,173.6% in the third quarter. Algert Global LLC now owns 595,869 shares of the company's stock worth $8,008,000 after buying an additional 569,661 shares during the period. Finally, Fort Baker Capital Management LP acquired a new stake in Dole in the third quarter worth $7,469,000.

Dole Price Performance

Shares of DOLE opened at $15.11 on Friday. The firm has a market capitalization of $1.44 billion, a price-to-earnings ratio of 28.50, a price-to-earnings-growth ratio of 1.28 and a beta of 0.67. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.83 and a current ratio of 1.17. Dole PLC has a one year low of $12.52 and a one year high of $16.57. The stock's fifty day moving average is $15.05 and its 200-day moving average is $14.64.

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. Equities analysts anticipate that Dole PLC will post 1.41 EPS 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 2.3%. The ex-dividend date of this dividend was Wednesday, March 18th. Dole's dividend payout ratio (DPR) is 64.15%.

Analyst Ratings Changes

Several brokerages have weighed in on DOLE. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Dole in a research report on Monday, December 29th. Deutsche Bank Aktiengesellschaft reaffirmed 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, Wall Street Zen lowered Dole from a "buy" rating to a "hold" rating in a report on Saturday, March 7th. Three research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company presently has a consensus 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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