Y Intercept Hong Kong Ltd Makes New $452,000 Investment in Dole PLC $DOLE

Y Intercept Hong Kong Ltd purchased a new stake in shares of Dole PLC (NYSE:DOLE) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 33,605 shares of the company’s stock, valued at approximately $452,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Acadian Asset Management LLC raised its stake in Dole by 147.3% during the 2nd quarter. Acadian Asset Management LLC now owns 1,350,546 shares of the company’s stock valued at $18,878,000 after acquiring an additional 804,471 shares in the last quarter. Millennium Management LLC bought a new stake in shares of Dole during the first quarter valued at about $6,749,000. Cubist Systematic Strategies LLC raised its stake in shares of Dole by 951.9% during the second quarter. Cubist Systematic Strategies LLC now owns 500,997 shares of the company’s stock valued at $7,009,000 after purchasing an additional 453,371 shares in the last quarter. Qube Research & Technologies Ltd lifted its holdings in Dole by 75.9% in the second quarter. Qube Research & Technologies Ltd now owns 582,402 shares of the company’s stock worth $8,148,000 after purchasing an additional 251,396 shares during the period. Finally, American Century Companies Inc. grew its position in Dole by 15.8% in the 2nd quarter. American Century Companies Inc. now owns 1,830,254 shares of the company’s stock valued at $25,605,000 after buying an additional 249,842 shares in the last quarter.

Dole Stock Up 1.4%

DOLE stock opened at $16.36 on Thursday. The firm has a market cap of $1.56 billion, a PE ratio of 109.07, a P/E/G ratio of 1.97 and a beta of 0.64. Dole PLC has a 12 month low of $12.52 and a 12 month high of $16.50. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.21 and a quick ratio of 0.90. The firm has a 50 day simple moving average of $15.04 and a 200 day simple moving average of $14.18.

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

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

Dole Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, January 6th. Investors of record on Tuesday, December 9th were paid a $0.085 dividend. The ex-dividend date of this dividend was Tuesday, December 9th. This represents a $0.34 dividend on an annualized basis and a yield of 2.1%. Dole’s dividend payout ratio (DPR) is currently 226.67%.

Analysts Set New Price Targets

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

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.