Dole (NYSE:DOLE) Stock Breaks Above 50-Day Moving Average - Here's What Happened

Key Points

• Dole shares rose above their 50-day moving average of $13.29, reaching $13.38 before last trading at $13.3280 on volume of roughly 1.5 million shares.
• Analysts maintain a consensus “Hold” rating with an average price target of $14.00; Zacks upgraded the stock from “strong sell” to “hold,” while Weiss Ratings slightly lowered its hold assessment.
• Dole’s latest quarter matched EPS expectations at $0.46, while revenue reached $2.50 billion, up 2.9% year over year but below estimates. The company also paid a quarterly dividend of $0.085 per share, representing a 2.6% annualized yield.

Dole PLC (NYSE:DOLE - Get Free Report)'s stock price passed above its fifty day moving average during trading on Monday. The stock has a fifty day moving average of $13.29 and traded as high as $13.38. Dole shares last traded at $13.3280, with a volume of 1,505,355 shares changing hands.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Zacks Research upgraded Dole from a "strong sell" rating to a "hold" rating in a report on Monday, July 13th. Weiss Ratings lowered Dole from a "hold (c+)" rating to a "hold (c)" rating in a research report on Thursday, September 17th. Finally, Deutsche Bank Aktiengesellschaft set a $14.00 price objective on Dole in a report on Tuesday, August 11th. Three equities research analysts have rated the stock with a Hold rating. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $14.00.

Dole Price Performance

The company's fifty day moving average price is $13.29 and its two-hundred day moving average price is $14.29. 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 company has a market cap of $1.26 billion, a price-to-earnings ratio of 21.50, a PEG ratio of 1.44 and a beta of 0.66.

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, hitting analysts' consensus estimates of $0.46. The business had revenue of $2.50 billion for the quarter, compared to analyst estimates of $2.53 billion. Dole had a net margin of 0.63% and a return on equity of 7.06%. The firm's quarterly revenue was up 2.9% on a year-over-year basis. During the same period last year, the business posted $0.55 earnings per share. On average, equities research analysts forecast that Dole PLC will post 1.34 EPS for the current fiscal year.

Dole Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 7th. Stockholders of record on Wednesday, September 16th were given a dividend of $0.0850 per share. This represents a $0.34 annualized dividend and a dividend yield of 2.6%. The ex-dividend date of this dividend was Wednesday, September 16th. Dole's dividend payout ratio is currently 54.84%.

Institutional Investors Weigh In On Dole

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Integrated Wealth Concepts LLC acquired a new position in Dole during the second quarter worth $27,000. Fortitude Family Office LLC bought a new position in Dole in the third quarter valued at $54,000. State of Wyoming acquired a new stake in Dole in the 1st quarter valued at $62,000. Signaturefd LLC increased its stake in Dole by 204.1% in the 3rd quarter. Signaturefd LLC now owns 4,851 shares of the company's stock valued at $62,000 after buying an additional 3,256 shares during the last quarter. Finally, Nisa Investment Advisors LLC increased its stake in Dole by 145.4% in the 3rd 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 during the last quarter.

About Dole

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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