Federated Hermes Inc. Cuts Stock Holdings in Dole PLC $DOLE

Federated Hermes Inc. reduced its stake in Dole PLC (NYSE:DOLE) by 90.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,186 shares of the company’s stock after selling 84,153 shares during the quarter. Federated Hermes Inc.’s holdings in Dole were worth $123,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of DOLE. Osaic Holdings Inc. raised its position in shares of Dole by 120.8% during the 2nd 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 in the last quarter. Waterfront Wealth Inc. raised its position in Dole by 1.3% during the second quarter. Waterfront Wealth Inc. now owns 95,034 shares of the company’s stock valued at $1,330,000 after purchasing an additional 1,241 shares in the last quarter. Engineers Gate Manager LP raised its position in Dole by 1.0% during the second quarter. Engineers Gate Manager LP now owns 185,475 shares of the company’s stock valued at $2,595,000 after purchasing an additional 1,756 shares in the last quarter. CWM LLC lifted its stake in Dole by 39.5% during the second 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. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Dole by 4.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 44,593 shares of the company’s stock worth $644,000 after purchasing an additional 1,879 shares in the last quarter.

Dole Stock Down 2.4%

DOLE stock opened at $15.84 on Tuesday. Dole PLC has a fifty-two week low of $12.52 and a fifty-two week high of $16.57. The company has a market capitalization of $1.51 billion, a price-to-earnings ratio of 105.60, a price-to-earnings-growth ratio of 1.98 and a beta of 0.64. The business’s 50 day moving average price is $15.13 and its two-hundred day moving average price is $14.22. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.90 and a current ratio of 1.21.

Dole (NYSE:DOLE) last announced its quarterly earnings data 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 business had revenue of $2.28 billion during the quarter, compared to analysts’ expectations of $2.25 billion. During the same quarter last year, the company posted $0.19 EPS. Dole’s revenue for the quarter was up 10.5% compared to the same quarter last year. As a group, analysts forecast that Dole PLC will post 1.19 earnings per share for the current fiscal year.

Dole declared that its Board of Directors has initiated a share buyback plan on Monday, November 10th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the company to reacquire up to 8.3% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

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

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.