SG Americas Securities LLC Raises Stock Holdings in Dole PLC $DOLE

SG Americas Securities LLC grew its stake in shares of Dole PLC (NYSE:DOLE) by 46.1% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 542,400 shares of the company’s stock after buying an additional 171,049 shares during the period. SG Americas Securities LLC’s holdings in Dole were worth $7,751,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Signaturefd LLC increased its holdings in Dole by 190.2% in the 4th quarter. Signaturefd LLC now owns 1,680 shares of the company’s stock worth $25,000 after acquiring an additional 1,101 shares in the last quarter. Osaic Holdings Inc. lifted its holdings in Dole by 120.8% during 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. V Square Quantitative Management LLC bought a new position in shares of Dole in the fourth quarter worth approximately $53,000. NewEdge Advisors LLC boosted its position in shares of Dole by 269.0% in the second quarter. NewEdge Advisors LLC now owns 3,716 shares of the company’s stock worth $52,000 after purchasing an additional 2,709 shares during the period. Finally, Aster Capital Management DIFC Ltd purchased a new stake in shares of Dole in the fourth quarter worth $58,000.

Dole Stock Up 1.7%

DOLE opened at $14.04 on Friday. The company has a market capitalization of $1.34 billion, a PE ratio of 31.19, a price-to-earnings-growth ratio of 1.57 and a beta of 0.63. The firm has a 50-day simple moving average of $14.44 and a two-hundred day simple moving average of $14.90. The company has a quick ratio of 0.91, a current ratio of 1.25 and a debt-to-equity ratio of 0.59. Dole PLC has a 52 week low of $12.52 and a 52 week high of $16.57.

Dole (NYSE:DOLE) last issued its earnings results on Monday, May 11th. The company reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.03). The firm had revenue of $2.34 billion during the quarter, compared to the consensus estimate of $2.23 billion. Dole had a return on equity of 7.63% and a net margin of 0.46%.The company’s revenue for the quarter was up 11.6% compared to the same quarter last year. During the same period last year, the firm posted $0.35 earnings per share. Analysts forecast that Dole PLC 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. Shareholders of record on Wednesday, June 17th will be paid a $0.085 dividend. The ex-dividend date of this dividend is Wednesday, June 17th. This represents a $0.34 dividend on an annualized basis and a yield of 2.4%. Dole’s payout ratio is presently 75.56%.

Wall Street Analyst Weigh In

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

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.