Dole (NYSE:DOLE) Stock Price Crosses Above 200-Day Moving Average - Should You Sell?

Key Points

• Dole shares crossed above their 200-day moving average, trading around $14.31 versus the average of $14.25, and were up 1.8%.
• The company reported quarterly earnings of $0.16 per share, missing the $0.32 analyst consensus, while revenue of $2.37 billion matched expectations.
• Analysts’ consensus rating is “Moderate Buy” with a $14.00 price target. Dole also announced a quarterly dividend of $0.085 per share, equivalent to a 2.4% yield.

Dole PLC (NYSE:DOLE - Get Free Report)'s stock price crossed above its two hundred day moving average during trading on Wednesday. The stock has a two hundred day moving average of $14.25 and traded as high as $14.32. Dole shares last traded at $14.3140, with a volume of 1,368,674 shares traded.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. Deutsche Bank set a $14.00 price target on shares of Dole in a report on Tuesday, August 11th. Freedom Broker assumed coverage on shares of Dole in a report on Wednesday, November 4th. They set a "strong-buy" rating for the company. Finally, Weiss Ratings lowered Dole from a "hold (c+)" rating to a "hold (c)" rating in a research report on Thursday, September 17th. One analyst has rated the stock with a Strong Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $14.00.

Dole Trading Up 1.8%

The stock has a market cap of $1.34 billion, a P/E ratio of 14.61, a P/E/G ratio of 1.54 and a beta of 0.75. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.98 and a current ratio of 1.13. The stock's fifty day moving average is $13.31 and its 200 day moving average is $14.25.

Dole (NYSE:DOLE - Get Free Report) last issued its quarterly earnings data on Monday, November 9th. The company reported $0.16 earnings per share for the quarter, missing the consensus estimate of $0.32 by ($0.16). The company had revenue of $2.37 billion for the quarter, compared to the consensus estimate of $2.37 billion. Dole had a return on equity of 7.05% and a net margin of 0.97%. As a group, equities research analysts predict that Dole PLC will post 1.34 earnings per share for the current fiscal year.

Dole Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 6th. Shareholders of record on Wednesday, December 16th will be paid a $0.0850 dividend. The ex-dividend date of this dividend is Wednesday, December 16th. This represents a $0.34 annualized dividend and a yield of 2.4%. Dole's dividend payout ratio (DPR) is presently 54.84%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Pale Fire Capital SE increased its position in shares of Dole by 0.6% during the first quarter. Pale Fire Capital SE now owns 9,427,476 shares of the company's stock worth $134,719,000 after acquiring an additional 54,700 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Dole by 15.2% in the first quarter. Dimensional Fund Advisors LP now owns 4,999,095 shares of the company's stock valued at $71,438,000 after acquiring an additional 659,892 shares in the last quarter. Renaissance Technologies LLC increased its position in Dole by 24.8% during the 1st quarter. Renaissance Technologies LLC now owns 753,774 shares of the company's stock valued at $10,771,000 after purchasing an additional 149,674 shares during the period. Empowered Funds LLC increased its position in Dole by 3.9% during the 1st quarter. Empowered Funds LLC now owns 449,398 shares of the company's stock valued at $6,422,000 after purchasing an additional 16,811 shares during the period. Finally, Lazard Asset Management LLC raised its holdings in shares of Dole by 15.7% in the 1st quarter. Lazard Asset Management LLC now owns 256,717 shares of the company's stock valued at $3,668,000 after purchasing an additional 34,805 shares in the last quarter.

Dole Company Profile

Dole plc is an international fresh produce company that sources, grows, packs, ships, markets and distributes fruit and vegetables. Its products include bananas, pineapples and other fresh fruit, as well as vegetables and packaged salads sold under the Dole brand and other labels. The company serves retail, wholesale and food-service customers across a range of markets. Its operations span multiple regions, connecting produce growers and farms with customers through its global sourcing, logistics and distribution network.

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