Dole (NYSE:DOLE) Shares Cross Above 200 Day Moving Average – What’s Next?
by Teresa Graham · The Cerbat GemShares of Dole PLC (NYSE:DOLE – Get Free Report) crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $14.07 and traded as high as $15.44. Dole shares last traded at $15.3450, with a volume of 611,546 shares.
Wall Street Analyst Weigh In
Several equities research analysts have issued reports on DOLE shares. Weiss Ratings restated a “hold (c-)” rating on shares of Dole in a report on Monday, December 29th. Wall Street Zen upgraded Dole from a “hold” rating to a “buy” rating in a research report on Saturday, December 13th. Two research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $16.00.
Dole Stock Up 0.2%
The company has a debt-to-equity ratio of 0.60, a current ratio of 1.21 and a quick ratio of 0.90. The company has a market capitalization of $1.46 billion, a price-to-earnings ratio of 102.30, a PEG ratio of 1.88 and a beta of 0.64. The firm has a 50-day moving average price of $14.74 and a two-hundred day moving average price of $14.07.
Dole (NYSE:DOLE – Get Free Report) last released its earnings results on Monday, November 10th. The company reported $0.16 EPS for the quarter, missing the consensus estimate of $0.17 by ($0.01). Dole had a net margin of 0.17% and a return on equity of 7.98%. The firm had revenue of $2.28 billion during the quarter, compared to the consensus estimate of $2.25 billion. During the same quarter in the previous year, the firm posted $0.19 EPS. The company’s revenue was up 10.5% on a year-over-year basis. As a group, sell-side analysts anticipate that Dole PLC will post 1.19 earnings per share for the current fiscal year.
Dole Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, January 6th. Stockholders of record on Tuesday, December 9th were paid 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 was Tuesday, December 9th. Dole’s dividend payout ratio is currently 226.67%.
Dole declared that its Board of Directors has approved a stock repurchase plan on Monday, November 10th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the company to purchase up to 8.3% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its stock is undervalued.
Institutional Investors Weigh In On Dole
Institutional investors and hedge funds have recently made changes to their positions in the stock. V Square Quantitative Management LLC bought a new position in shares of Dole in the fourth quarter valued at $53,000. Lesa Sroufe & Co lifted its stake in Dole by 2.0% in the fourth quarter. Lesa Sroufe & Co now owns 129,218 shares of the company’s stock valued at $1,937,000 after acquiring an additional 2,584 shares during the last quarter. Signaturefd LLC grew its position in shares of Dole by 190.2% in the 4th quarter. Signaturefd LLC now owns 1,680 shares of the company’s stock valued at $25,000 after acquiring an additional 1,101 shares during the period. Ascent Group LLC bought a new position in shares of Dole in the 4th quarter valued at about $156,000. Finally, Shah Capital Management increased its stake in shares of Dole by 67.6% during the 4th quarter. Shah Capital Management now owns 461,521 shares of the company’s stock worth $6,918,000 after purchasing an additional 186,124 shares during the last quarter.
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.