Northwestern Mutual Wealth Management Co. Has $2.25 Million Stake in Dole PLC $DOLE

Northwestern Mutual Wealth Management Co. lifted its stake in Dole PLC (NYSE:DOLE) by 273,334.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 150,389 shares of the company’s stock after acquiring an additional 150,334 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in Dole were worth $2,254,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of DOLE. Victory Capital Management Inc. increased its position in shares of Dole by 30.6% in the third quarter. Victory Capital Management Inc. now owns 4,938,971 shares of the company’s stock valued at $66,380,000 after acquiring an additional 1,155,983 shares during the last quarter. Balyasny Asset Management L.P. acquired a new stake in shares of Dole in the third quarter valued at about $10,924,000. Panview Capital Ltd acquired a new stake in shares of Dole in the third quarter valued at about $9,408,000. Algert Global LLC increased its position in shares of Dole by 2,173.6% in the third quarter. Algert Global LLC now owns 595,869 shares of the company’s stock valued at $8,008,000 after acquiring an additional 569,661 shares during the last quarter. Finally, Fort Baker Capital Management LP acquired a new stake in shares of Dole in the third quarter valued at about $7,469,000.

Dole Trading Down 0.3%

Dole stock opened at $14.38 on Wednesday. Dole PLC has a 52 week low of $12.52 and a 52 week high of $16.57. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.91 and a current ratio of 1.25. The stock has a market capitalization of $1.37 billion, a P/E ratio of 31.96, a PEG ratio of 1.61 and a beta of 0.67. The stock has a 50-day simple moving average of $14.72 and a 200 day simple moving average of $14.90.

Dole (NYSE:DOLE) last posted its quarterly earnings results on Monday, May 11th. The company reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.03). Dole had a return on equity of 7.63% and a net margin of 0.46%.The business had revenue of $2.34 billion for the quarter, compared to the consensus estimate of $2.23 billion. During the same quarter in the previous year, the business posted $0.35 EPS. The company’s revenue for the quarter was up 11.6% on a year-over-year basis. Analysts expect that Dole PLC will post 1.39 earnings per share for the current year.

Dole Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 8th. Investors of record on Wednesday, June 17th will be issued a dividend of $0.085 per share. The ex-dividend date is Wednesday, June 17th. This represents a $0.34 dividend on an annualized basis and a yield of 2.4%. Dole’s dividend payout ratio (DPR) is presently 75.56%.

Analyst Ratings Changes

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

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.