Dole (NYSE:DOLE) Downgraded by Zacks Research to “Strong Sell”

Zacks Research cut shares of Dole (NYSE:DOLE) from a hold rating to a strong sell rating in a research report released on Tuesday morning,Zacks.com reports.

Other research analysts have also issued research reports about the stock. Weiss Ratings lowered shares of Dole from a “hold (c+)” rating to a “hold (c)” rating in a research note 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 note on Monday, March 30th. Finally, Wall Street Zen lowered shares of Dole from a “buy” rating to a “hold” rating in a research note on Saturday, March 7th. Three analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Reduce” and a consensus price target of $15.50.

Dole Trading Up 1.1%

DOLE opened at $14.58 on Tuesday. The company has a current ratio of 1.25, a quick ratio of 0.83 and a debt-to-equity ratio of 0.59. The stock has a market capitalization of $1.39 billion, a PE ratio of 32.39, a PEG ratio of 1.23 and a beta of 0.67. Dole has a 1-year low of $12.52 and a 1-year high of $16.57. The firm has a 50-day moving average price of $14.82 and a two-hundred day moving average price of $14.80.

Dole (NYSE:DOLE) last posted its quarterly earnings data 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). The company had revenue of $2.34 billion during the quarter, compared to analyst estimates of $2.23 billion. Dole had a net margin of 0.46% and a return on equity of 7.63%. The company’s revenue was up 11.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.35 EPS. As a group, equities analysts anticipate that Dole will post 1.39 earnings per share for the current fiscal year.

Dole Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 8th. Investors of record on Wednesday, June 17th will be paid a dividend of $0.085 per share. The ex-dividend date of this dividend is Wednesday, June 17th. This represents a $0.34 annualized dividend and a yield of 2.3%. Dole’s dividend payout ratio (DPR) is presently 75.56%.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the stock. State of Wyoming bought a new position in Dole in the first quarter valued at approximately $62,000. Dimensional Fund Advisors LP lifted its stake in Dole by 15.2% in the first quarter. Dimensional Fund Advisors LP now owns 4,999,095 shares of the company’s stock valued at $71,438,000 after buying an additional 659,892 shares in the last quarter. Sanctuary Advisors LLC bought a new position in Dole in the first quarter valued at approximately $594,000. Hsbc Holdings PLC lifted its stake in Dole by 109.6% in the first quarter. Hsbc Holdings PLC now owns 29,556 shares of the company’s stock valued at $423,000 after buying an additional 15,455 shares in the last quarter. Finally, Waterfront Wealth Inc. lifted its stake in Dole by 2.0% in the first quarter. Waterfront Wealth Inc. now owns 173,575 shares of the company’s stock valued at $2,480,000 after buying an additional 3,416 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.