Dole PLC (NYSE:DOLE) Short Interest Update
by Sarita Garza · The Markets DailyDole PLC (NYSE:DOLE – Get Free Report) saw a large drop in short interest during the month of March. As of March 31st, there was short interest totaling 1,521,345 shares, a drop of 14.5% from the March 15th total of 1,780,132 shares. Approximately 2.7% of the shares of the company are sold short. Based on an average daily trading volume, of 865,209 shares, the days-to-cover ratio is presently 1.8 days.
Dole Stock Performance
Dole stock traded up $0.22 during midday trading on Friday, hitting $15.20. The company’s stock had a trading volume of 749,580 shares, compared to its average volume of 724,589. Dole has a 1-year low of $12.52 and a 1-year high of $16.57. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.17 and a quick ratio of 0.83. The company has a 50-day moving average price of $15.15 and a two-hundred day moving average price of $14.57. The company has a market cap of $1.45 billion, a price-to-earnings ratio of 28.69, a PEG ratio of 1.26 and a beta of 0.67.
Dole (NYSE:DOLE – Get Free Report) last issued its quarterly earnings data on Wednesday, February 25th. The company reported $0.14 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.02. Dole had a net margin of 0.56% and a return on equity of 7.81%. The business had revenue of $2.37 billion during the quarter, compared to analysts’ expectations of $2.32 billion. During the same quarter in the previous year, the company earned $0.16 EPS. The business’s revenue was up 9.2% on a year-over-year basis. As a group, sell-side analysts predict that Dole will post 1.19 earnings per share for the current year.
Dole Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 8th. Shareholders of record on Wednesday, March 18th were paid a $0.085 dividend. The ex-dividend date was Wednesday, March 18th. This represents a $0.34 annualized dividend and a yield of 2.2%. Dole’s payout ratio is 64.15%.
Analyst Upgrades and Downgrades
A number of analysts have recently issued reports on DOLE shares. Wall Street Zen cut shares of Dole from a “buy” rating to a “hold” rating in a research note on Saturday, March 7th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $15.00 target price (down from $18.00) on shares of Dole in a research note on Monday, March 30th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Dole in a research note on Monday, December 29th. Three analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Dole currently has a consensus rating of “Hold” and an average target price of $15.50.
Read Our Latest Research Report on Dole
Institutional Trading of Dole
Hedge funds and other institutional investors have recently bought and sold shares of the business. Signaturefd LLC raised its stake in Dole by 190.2% in the 4th quarter. Signaturefd LLC now owns 1,680 shares of the company’s stock worth $25,000 after purchasing an additional 1,101 shares in the last quarter. Osaic Holdings Inc. increased its holdings in Dole by 120.8% in the 2nd quarter. Osaic Holdings Inc. now owns 1,835 shares of the company’s stock valued at $26,000 after buying an additional 1,004 shares during the period. Westfuller Advisors LLC bought a new position in Dole in the 3rd quarter valued at about $49,000. State of Alaska Department of Revenue bought a new position in Dole in the 3rd quarter valued at about $50,000. Finally, NewEdge Advisors LLC increased its holdings in Dole by 269.0% in the 2nd quarter. NewEdge Advisors LLC now owns 3,716 shares of the company’s stock valued at $52,000 after buying an additional 2,709 shares during the period.
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.