Campbell & CO Investment Adviser LLC Makes New $411,000 Investment in Dole PLC $DOLE

Campbell & CO Investment Adviser LLC purchased a new stake in shares of Dole PLC (NYSE:DOLE) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 29,400 shares of the company’s stock, valued at approximately $411,000.

Several other large investors have also recently added to or reduced their stakes in the company. Virtus Advisers LLC bought a new position in Dole in the first quarter worth about $64,000. Quarry LP acquired a new stake in shares of Dole during the 1st quarter worth approximately $77,000. CWM LLC lifted its holdings in shares of Dole by 39.5% in the 2nd quarter. CWM LLC now owns 6,234 shares of the company’s stock worth $87,000 after purchasing an additional 1,765 shares during the last quarter. Quantbot Technologies LP boosted its position in Dole by 175.6% during the 1st quarter. Quantbot Technologies LP now owns 7,977 shares of the company’s stock valued at $115,000 after purchasing an additional 5,083 shares during the period. Finally, Fox Run Management L.L.C. bought a new position in Dole during the 2nd quarter worth $173,000.

Dole Stock Performance

Shares of DOLE stock opened at $13.97 on Monday. The stock’s fifty day simple moving average is $13.27 and its 200-day simple moving average is $13.85. The company has a market capitalization of $1.33 billion, a price-to-earnings ratio of 55.86, a P/E/G ratio of 1.99 and a beta of 0.65. The company has a current ratio of 1.26, a quick ratio of 1.01 and a debt-to-equity ratio of 0.67. Dole PLC has a 1-year low of $12.20 and a 1-year high of $15.72.

Dole (NYSE:DOLE) last issued its earnings results on Monday, November 10th. The company reported $0.16 earnings per share for the quarter, missing the consensus estimate of $0.17 by ($0.01). The firm had revenue of $2.28 billion during the quarter, compared to analyst estimates of $2.25 billion. Dole had a return on equity of 8.17% and a net margin of 0.28%.The business’s revenue for the quarter was up 10.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.19 earnings per share. On average, sell-side analysts predict that Dole PLC will post 1.19 earnings per share for the current fiscal year.

Dole Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 6th. Investors of record on Tuesday, December 9th will be paid a dividend of $0.085 per share. This represents a $0.34 annualized dividend and a yield of 2.4%. The ex-dividend date is Tuesday, December 9th. Dole’s dividend payout ratio is presently 226.67%.

Dole announced that its Board of Directors has approved a share buyback program on Monday, November 10th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the company to buy up to 8.3% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s management believes its shares are undervalued.

Analyst Upgrades and Downgrades

DOLE has been the topic of a number of research analyst reports. Stephens initiated coverage on Dole in a report on Friday, September 12th. They set an “equal weight” rating and a $16.00 price target on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of Dole in a research note on Wednesday, November 5th. Finally, Wall Street Zen lowered shares of Dole from a “buy” rating to a “hold” rating in a research note on Saturday. Two equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Dole has a consensus rating of “Hold” and a consensus price target of $16.00.

About Dole

Dole Food Company, Inc (Dole) is a producer, marketer and distributor of fresh fruit and fresh vegetables. The Company is a producer of bananas and pineapples, and packaged fruit products, packaged salads and fresh-packed vegetables. The Company has three business segments: fresh fruit, fresh vegetables and packaged foods.