Wall Street Zen Downgrades Dole (NYSE:DOLE) to Hold

Dole (NYSE:DOLE) was downgraded by Wall Street Zen from a “buy” rating to a “hold” rating in a report issued on Saturday.

Separately, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Dole in a report on Monday, December 29th. Two investment analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $16.00.

Dole Stock Performance

DOLE opened at $15.29 on Friday. Dole has a twelve month low of $12.52 and a twelve month high of $16.57. The firm has a market capitalization of $1.45 billion, a PE ratio of 28.84, a PEG ratio of 1.22 and a beta of 0.64. The company has a current ratio of 1.17, a quick ratio of 0.90 and a debt-to-equity ratio of 0.54. The firm’s 50-day moving average price is $15.38 and its 200 day moving average price is $14.42.

Dole (NYSE:DOLE) last released its quarterly earnings data on Wednesday, February 25th. The company reported $0.14 EPS for the quarter, beating analysts’ consensus estimates of $0.12 by $0.02. The company had revenue of $2.37 billion during the quarter, compared to the consensus estimate of $2.32 billion. Dole had a net margin of 0.56% and a return on equity of 7.81%. Dole’s quarterly revenue was up 9.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.16 EPS. As a group, sell-side analysts expect that Dole will post 1.19 EPS for the current fiscal year.

Dole announced that its board has initiated a stock buyback program on Monday, November 10th that permits the company to buyback $100.00 million in shares. This buyback authorization permits the company to purchase up to 8.3% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are undervalued.

Hedge Funds Weigh In On Dole

Several institutional investors and hedge funds have recently bought and sold shares of the company. AQR Capital Management LLC increased its holdings in shares of Dole by 28.5% during the 1st quarter. AQR Capital Management LLC now owns 48,685 shares of the company’s stock worth $703,000 after buying an additional 10,793 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Dole by 4.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 44,593 shares of the company’s stock valued at $644,000 after acquiring an additional 1,879 shares during the last quarter. Millennium Management LLC purchased a new position in Dole in the first quarter worth approximately $6,749,000. Jane Street Group LLC increased its stake in Dole by 87.6% during the first quarter. Jane Street Group LLC now owns 213,786 shares of the company’s stock worth $3,089,000 after acquiring an additional 99,842 shares during the last quarter. Finally, Envestnet Asset Management Inc. increased its stake in Dole by 10.4% during the second quarter. Envestnet Asset Management Inc. now owns 89,561 shares of the company’s stock worth $1,253,000 after acquiring an additional 8,418 shares during 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.