Dole PLC $DOLE Stock Position Raised by Tudor Investment Corp ET AL

Key Points

• Tudor Investment Corp ET AL raised its stake in Dole PLC by 254.6% in Q3, adding 238,819 shares to hold 332,609 shares (~0.35% of the company) worth about $4.47 million.
• Other institutions also piled into the stock in Q3 — notably Invenomic Capital Management (now ~1.54M shares worth ~$20.7M), plus sizable increases from New York State Common Retirement Fund, IQ EQ, Atlantic Investment Management (new position) and Waterfront Wealth.
• Dole beat quarterly EPS estimates ($0.14 vs. $0.12) with revenue up 9.2% year-over-year to $2.37B, announced a quarterly dividend of $0.085 (annualized yield ~2.3%), and carries an average analyst rating of Hold with a $16 price target.

Tudor Investment Corp ET AL increased its stake in Dole PLC (NYSE:DOLE - Free Report) by 254.6% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 332,609 shares of the company's stock after acquiring an additional 238,819 shares during the quarter. Tudor Investment Corp ET AL owned approximately 0.35% of Dole worth $4,470,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. New York State Common Retirement Fund increased its stake in Dole by 46.4% in the 3rd quarter. New York State Common Retirement Fund now owns 233,867 shares of the company's stock worth $3,143,000 after purchasing an additional 74,096 shares in the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd lifted its stake in Dole by 117.4% during the third quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 207,086 shares of the company's stock valued at $2,783,000 after buying an additional 111,829 shares in the last quarter. Invenomic Capital Management LP boosted its holdings in shares of Dole by 24.3% in the third quarter. Invenomic Capital Management LP now owns 1,540,959 shares of the company's stock worth $20,710,000 after buying an additional 301,319 shares during the period. Atlantic Investment Management Inc. acquired a new position in shares of Dole in the third quarter worth about $4,435,000. Finally, Waterfront Wealth Inc. increased its position in shares of Dole by 76.1% in the third quarter. Waterfront Wealth Inc. now owns 167,380 shares of the company's stock worth $2,188,000 after acquiring an additional 72,346 shares in the last quarter.

Dole Stock Up 0.9%

Shares of Dole stock opened at $14.47 on Thursday. Dole PLC has a 1 year low of $12.52 and a 1 year high of $16.57. The company has a market cap of $1.38 billion, a P/E ratio of 27.30, a P/E/G ratio of 1.16 and a beta of 0.64. The company has a current ratio of 1.17, a quick ratio of 0.83 and a debt-to-equity ratio of 0.54. The stock has a 50-day moving average price of $15.35 and a 200 day moving average price of $14.43.

Dole (NYSE:DOLE - Get Free Report) last released its earnings results on Wednesday, February 25th. The company reported $0.14 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.02. The company had revenue of $2.37 billion for the quarter, compared to analysts' expectations of $2.32 billion. Dole had a return on equity of 7.81% and a net margin of 0.56%.The business's revenue for the quarter was up 9.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.16 EPS. As a group, analysts expect that Dole PLC will post 1.19 EPS for the current fiscal year.

Dole Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 8th. Investors of record on Wednesday, March 18th will be given a dividend of $0.085 per share. The ex-dividend date of this dividend is Wednesday, March 18th. This represents a $0.34 dividend on an annualized basis and a yield of 2.3%. Dole's payout ratio is presently 64.15%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Wall Street Zen lowered shares of Dole from a "buy" rating to a "hold" rating in a report on Saturday, March 7th. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Dole in a research note on Monday, December 29th. Two investment analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, Dole presently has an average rating of "Hold" and an average price target of $16.00.

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.

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