Bridgeway Capital Management LLC Trims Stake in Dole PLC $DOLE

Bridgeway Capital Management LLC reduced its holdings in shares of Dole PLC (NYSE:DOLE) by 25.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 859,387 shares of the company’s stock after selling 286,867 shares during the period. Bridgeway Capital Management LLC owned about 0.90% of Dole worth $12,882,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in DOLE. Signaturefd LLC increased its holdings in Dole by 190.2% during the fourth quarter. Signaturefd LLC now owns 1,680 shares of the company’s stock valued at $25,000 after buying an additional 1,101 shares during the last quarter. Osaic Holdings Inc. increased 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 buying an additional 1,004 shares during the last quarter. NewEdge Advisors LLC increased its holdings in Dole by 269.0% during the second quarter. NewEdge Advisors LLC now owns 3,716 shares of the company’s stock valued at $52,000 after buying an additional 2,709 shares during the last quarter. V Square Quantitative Management LLC bought a new position in shares of Dole in the fourth quarter worth approximately $53,000. Finally, Aster Capital Management DIFC Ltd bought a new position in shares of Dole in the fourth quarter worth approximately $58,000.

Dole Stock Performance

DOLE opened at $14.13 on Thursday. The firm has a market cap of $1.34 billion, a P/E ratio of 31.39, a PEG ratio of 1.60 and a beta of 0.63. Dole PLC has a 1-year low of $12.52 and a 1-year high of $16.57. The company has a 50 day simple moving average of $14.62 and a two-hundred day simple moving average of $14.93. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.25 and a quick ratio of 0.91.

Dole (NYSE:DOLE) last issued its earnings results on Monday, May 11th. The company reported $0.33 earnings per share 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 company had revenue of $2.34 billion for the quarter, compared to the consensus estimate of $2.23 billion. During the same quarter in the prior year, the company posted $0.35 EPS. Dole’s revenue was up 11.6% compared to the same quarter last year. Equities analysts forecast that Dole PLC will post 1.39 earnings per share for the current fiscal year.

Dole Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 8th. Investors of record on Wednesday, June 17th will be given 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 dividend yield of 2.4%. Dole’s dividend payout ratio is currently 75.56%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $15.00 price target (down from $18.00) on shares of Dole in a research report on Monday, March 30th. Zacks Research lowered shares of Dole from a “hold” rating to a “strong sell” rating in a research report on Tuesday, May 12th. Weiss Ratings lowered shares of Dole from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, April 29th. Finally, Wall Street Zen lowered shares of Dole from a “buy” rating to a “hold” rating in a research report on Saturday, March 7th. Three investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Reduce” and an average target price of $15.50.

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.