Hussman Strategic Advisors Inc. Sells 105,000 Shares of Dole PLC $DOLE

Hussman Strategic Advisors Inc. reduced its holdings in shares of Dole PLC (NYSE:DOLE) by 41.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 147,000 shares of the company’s stock after selling 105,000 shares during the quarter. Hussman Strategic Advisors Inc.’s holdings in Dole were worth $1,976,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in DOLE. AQR Capital Management LLC lifted its position in Dole by 28.5% in the 1st quarter. AQR Capital Management LLC now owns 48,685 shares of the company’s stock valued at $703,000 after acquiring an additional 10,793 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Dole by 4.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 44,593 shares of the company’s stock worth $644,000 after purchasing an additional 1,879 shares in the last quarter. Millennium Management LLC purchased a new stake in shares of Dole in the first quarter worth approximately $6,749,000. Jane Street Group LLC lifted its holdings in shares of Dole by 87.6% in the first quarter. Jane Street Group LLC now owns 213,786 shares of the company’s stock valued at $3,089,000 after purchasing an additional 99,842 shares in the last quarter. Finally, Public Employees Retirement System of Ohio boosted its position in shares of Dole by 139.8% during the second quarter. Public Employees Retirement System of Ohio now owns 111,189 shares of the company’s stock valued at $1,556,000 after buying an additional 64,820 shares during the last quarter.

Dole Stock Performance

DOLE stock opened at $15.75 on Wednesday. The company has a quick ratio of 0.90, a current ratio of 1.21 and a debt-to-equity ratio of 0.60. The firm has a market cap of $1.50 billion, a PE ratio of 105.00, a P/E/G ratio of 1.87 and a beta of 0.64. The business has a 50 day moving average of $14.80 and a 200-day moving average of $14.09. Dole PLC has a 12-month low of $12.52 and a 12-month high of $15.75.

Dole (NYSE:DOLE) last posted its quarterly earnings data on Monday, November 10th. The company reported $0.16 earnings per share for the quarter, missing the consensus estimate of $0.17 by ($0.01). The business had revenue of $2.28 billion during the quarter, compared to analysts’ expectations of $2.25 billion. Dole had a return on equity of 7.98% and a net margin of 0.17%.The firm’s revenue for the quarter was up 10.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.19 EPS. As a group, sell-side analysts expect that Dole PLC will post 1.19 earnings per share for the current year.

Dole Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, January 6th. Investors of record on Tuesday, December 9th were given a dividend of $0.085 per share. The ex-dividend date was Tuesday, December 9th. This represents a $0.34 annualized dividend and a yield of 2.2%. Dole’s dividend payout ratio is presently 226.67%.

Dole declared that its board has authorized a share buyback plan on Monday, November 10th that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 8.3% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on DOLE shares. Weiss Ratings reiterated a “hold (c-)” rating on shares of Dole in a report on Monday, December 29th. Wall Street Zen raised shares of Dole from a “hold” rating to a “buy” rating in a report on Saturday, December 13th. Two equities research analysts have rated the stock with a Hold rating, According to MarketBeat.com, Dole presently has an average rating of “Hold” and a consensus price target of $16.00.

Dole 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.