Dole (NYSE:DOLE) Upgraded by Zacks Research to “Hold” Rating

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

Other equities research analysts also recently issued reports about the stock. Deutsche Bank Aktiengesellschaft restated 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. Weiss Ratings lowered Dole from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, April 29th. Four research analysts have rated the stock with a Hold rating, According to MarketBeat.com, Dole currently has a consensus rating of “Hold” and a consensus target price of $15.50.

Dole Trading Down 0.3%

Shares of NYSE DOLE opened at $14.13 on Monday. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.25 and a quick ratio of 0.91. The stock has a market capitalization of $1.35 billion, a P/E ratio of 31.41, a price-to-earnings-growth ratio of 1.58 and a beta of 0.63. Dole has a 1-year low of $12.52 and a 1-year high of $16.57. The business has a fifty day moving average price of $14.21 and a 200 day moving average price of $14.80.

Dole (NYSE:DOLE) last posted 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). Dole had a net margin of 0.46% and a return on equity of 7.63%. The company had revenue of $2.34 billion during the quarter, compared to analysts’ expectations of $2.23 billion. During the same quarter last year, the firm earned $0.35 EPS. Dole’s revenue for the quarter was up 11.6% on a year-over-year basis. Equities research analysts expect that Dole will post 1.39 EPS for the current fiscal year.

Dole Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 8th. Shareholders of record on Wednesday, June 17th were paid a dividend of $0.085 per share. The ex-dividend date was Wednesday, June 17th. This represents a $0.34 dividend on an annualized basis and a yield of 2.4%. Dole’s dividend payout ratio is presently 75.56%.

Institutional Investors Weigh In On Dole

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Balyasny Asset Management L.P. purchased a new position in Dole during the 3rd quarter worth approximately $10,924,000. Panview Capital Ltd boosted its holdings in shares of Dole by 104.6% in the 4th quarter. Panview Capital Ltd now owns 1,431,975 shares of the company’s stock valued at $21,465,000 after acquiring an additional 731,975 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Dole by 15.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 4,999,095 shares of the company’s stock valued at $71,438,000 after acquiring an additional 659,892 shares during the last quarter. Fort Baker Capital Management LP acquired a new stake in shares of Dole in the third quarter worth $7,469,000. Finally, River Road Asset Management LLC raised its holdings in shares of Dole by 12.9% during the fourth quarter. River Road Asset Management LLC now owns 4,617,435 shares of the company’s stock worth $69,215,000 after purchasing an additional 525,801 shares during 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.