Dole (NYSE:DOLE) Shares Pass Above 200-Day Moving Average – Time to Sell?

Dole PLC (NYSE:DOLE)’s stock price crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $14.07 and traded as high as $15.44. Dole shares last traded at $15.3450, with a volume of 611,546 shares traded.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Dole in a research note on Monday, December 29th. Wall Street Zen upgraded shares of Dole from a “hold” rating to a “buy” rating in a report on Saturday, December 13th. Two analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $16.00.

Dole Trading Up 0.2%

The firm has a market cap of $1.46 billion, a price-to-earnings ratio of 102.30, a price-to-earnings-growth ratio of 1.87 and a beta of 0.64. The company has a quick ratio of 0.90, a current ratio of 1.21 and a debt-to-equity ratio of 0.60. The business has a 50 day moving average price of $14.74 and a 200-day moving average price of $14.07.

Dole (NYSE:DOLE) last released its quarterly earnings results on Monday, November 10th. The company reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.01). Dole had a return on equity of 7.98% and a net margin of 0.17%.The company had revenue of $2.28 billion during the quarter, compared to analysts’ expectations of $2.25 billion. During the same quarter in the prior year, the company earned $0.19 EPS. The firm’s revenue was up 10.5% compared to the same quarter last year. As a group, research analysts expect that Dole PLC will post 1.19 EPS for the current fiscal year.

Dole Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, January 6th. Stockholders of record on Tuesday, December 9th were paid a $0.085 dividend. The ex-dividend date was Tuesday, December 9th. This represents a $0.34 annualized dividend and a dividend yield of 2.2%. Dole’s dividend payout ratio is 226.67%.

Dole declared that its board has authorized a share repurchase plan on Monday, November 10th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the company to purchase up to 8.3% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its stock is undervalued.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Signaturefd LLC boosted its holdings in Dole by 190.2% in the fourth quarter. Signaturefd LLC now owns 1,680 shares of the company’s stock valued at $25,000 after purchasing an additional 1,101 shares during the last quarter. Osaic Holdings Inc. raised its position in shares of Dole by 120.8% in the 2nd 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. Westfuller Advisors LLC purchased a new position in shares of Dole during the 3rd quarter valued at approximately $49,000. State of Alaska Department of Revenue acquired a new stake in shares of Dole during the third quarter worth approximately $50,000. Finally, NewEdge Advisors LLC grew its position in shares of Dole by 269.0% during the second quarter. NewEdge Advisors LLC now owns 3,716 shares of the company’s stock worth $52,000 after buying an additional 2,709 shares in the last quarter.

Dole Company 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.