Invenomic Capital Management LP Buys 56,492 Shares of Dole PLC $DOLE

Invenomic Capital Management LP raised its stake in shares of Dole PLC (NYSE:DOLE) by 3.7% in the 4th quarter, HoldingsChannel reports. The firm owned 1,597,451 shares of the company’s stock after purchasing an additional 56,492 shares during the period. Dole makes up 1.1% of Invenomic Capital Management LP’s portfolio, making the stock its 24th biggest position. Invenomic Capital Management LP’s holdings in Dole were worth $23,946,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Victory Capital Management Inc. grew its position in Dole by 1.0% in the fourth quarter. Victory Capital Management Inc. now owns 4,987,681 shares of the company’s stock worth $74,765,000 after acquiring an additional 48,710 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Dole by 13.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,339,203 shares of the company’s stock valued at $65,044,000 after buying an additional 523,287 shares in the last quarter. American Century Companies Inc. boosted its stake in Dole by 13.6% in the third quarter. American Century Companies Inc. now owns 2,078,957 shares of the company’s stock worth $27,941,000 after buying an additional 248,703 shares in the last quarter. Nuveen LLC grew its position in Dole by 0.9% during the fourth quarter. Nuveen LLC now owns 1,643,034 shares of the company’s stock valued at $24,629,000 after acquiring an additional 15,418 shares during the last quarter. Finally, Ameriprise Financial Inc. raised its stake in shares of Dole by 2.6% during the second quarter. Ameriprise Financial Inc. now owns 1,624,468 shares of the company’s stock worth $22,726,000 after acquiring an additional 41,738 shares in the last quarter.

Dole Stock Down 1.6%

Shares of Dole stock opened at $14.13 on Thursday. Dole PLC 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 0.59, a current ratio of 1.25 and a quick ratio of 0.91. The company has a 50-day moving average of $14.62 and a 200 day moving average of $14.93. The firm has a market cap of $1.34 billion, a price-to-earnings ratio of 31.39, a PEG ratio of 1.60 and a beta of 0.63.

Dole (NYSE:DOLE) last posted its quarterly earnings results on Monday, May 11th. The company reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.03). Dole had a return on equity of 7.63% and a net margin of 0.46%.The company had revenue of $2.34 billion during the quarter, compared to analysts’ expectations of $2.23 billion. During the same quarter in the previous year, the company earned $0.35 EPS. The business’s quarterly revenue was up 11.6% on a year-over-year basis. As a group, sell-side analysts anticipate that Dole PLC will post 1.39 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, July 8th. Shareholders of record on Wednesday, June 17th will be paid a dividend of $0.085 per share. This represents a $0.34 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date is Wednesday, June 17th. Dole’s dividend payout ratio (DPR) is currently 75.56%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on DOLE. Wall Street Zen cut shares of Dole from a “buy” rating to a “hold” rating in a research report on Saturday, March 7th. Zacks Research cut Dole from a “hold” rating to a “strong sell” rating in a research note on Tuesday, May 12th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $15.00 target price (down from $18.00) on shares of Dole in a report on Monday, March 30th. Finally, Weiss Ratings lowered shares of Dole from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, April 29th. Three analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus price target of $15.50.

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.