Dole (NYSE:DOLE) Hits New 1-Year High – What’s Next?

Dole PLC (NYSE:DOLE)’s share price reached a new 52-week high during trading on Monday . The stock traded as high as $15.99 and last traded at $15.8350, with a volume of 748401 shares trading hands. The stock had previously closed at $15.86.

Analysts Set New Price Targets

A number of research firms have weighed in on DOLE. Weiss Ratings reissued 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 research note on Saturday, December 13th. Two equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $16.00.

Dole Stock Performance

The stock’s 50 day moving average price is $14.92 and its 200 day moving average price is $14.13. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.90 and a current ratio of 1.21. The company has a market capitalization of $1.52 billion, a P/E ratio of 106.53, a price-to-earnings-growth ratio of 1.95 and a beta of 0.64.

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

Dole Announces Dividend

The firm also recently announced 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 dividend yield of 2.1%. Dole’s dividend payout ratio is presently 226.67%.

Dole announced that its board has approved a stock repurchase program on Monday, November 10th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the company to reacquire up to 8.3% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Osaic Holdings Inc. increased its stake in Dole by 120.8% in the second quarter. Osaic Holdings Inc. now owns 1,835 shares of the company’s stock valued at $26,000 after purchasing an additional 1,004 shares in the last quarter. Signaturefd LLC boosted its position in shares of Dole by 190.2% during 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. Waterfront Wealth Inc. grew its stake in shares of Dole by 1.3% in the 2nd quarter. Waterfront Wealth Inc. now owns 95,034 shares of the company’s stock valued at $1,330,000 after buying an additional 1,241 shares during the period. Engineers Gate Manager LP increased its position in Dole by 1.0% in the 2nd quarter. Engineers Gate Manager LP now owns 185,475 shares of the company’s stock valued at $2,595,000 after buying an additional 1,756 shares in the last quarter. Finally, CWM LLC increased its position in Dole by 39.5% in the 2nd quarter. CWM LLC now owns 6,234 shares of the company’s stock valued at $87,000 after buying an additional 1,765 shares in 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.