Algert Global LLC Raises Holdings in Dole PLC $DOLE

Algert Global LLC increased its stake in shares of Dole PLC (NYSE:DOLE) by 2,173.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 595,869 shares of the company’s stock after buying an additional 569,661 shares during the quarter. Algert Global LLC owned about 0.63% of Dole worth $8,008,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. AQR Capital Management LLC raised its position in 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 period. Millennium Management LLC acquired a new position in shares of Dole in the first quarter worth about $6,749,000. Jane Street Group LLC raised its stake in shares of Dole by 87.6% during the 1st quarter. Jane Street Group LLC now owns 213,786 shares of the company’s stock worth $3,089,000 after buying an additional 99,842 shares during the period. Finally, Envestnet Asset Management Inc. raised its stake in shares of Dole by 10.4% during the 2nd quarter. Envestnet Asset Management Inc. now owns 89,561 shares of the company’s stock worth $1,253,000 after buying an additional 8,418 shares during the period.

Dole Stock Up 0.5%

Shares of NYSE:DOLE opened at $14.42 on Tuesday. The company has a market capitalization of $1.37 billion, a price-to-earnings ratio of 27.20, a PEG ratio of 1.17 and a beta of 0.64. Dole PLC has a 12-month low of $12.52 and a 12-month high of $16.57. The business has a 50-day moving average price of $15.35 and a 200 day moving average price of $14.42. The company has a current ratio of 1.17, a quick ratio of 0.83 and a debt-to-equity ratio of 0.54.

Dole (NYSE:DOLE) last posted its earnings results on Wednesday, February 25th. The company reported $0.14 EPS for the quarter, beating analysts’ consensus estimates of $0.12 by $0.02. Dole had a net margin of 0.56% and a return on equity of 7.81%. The company had revenue of $2.37 billion for the quarter, compared to analysts’ expectations of $2.32 billion. During the same quarter in the prior year, the company posted $0.16 earnings per share. Dole’s revenue for the quarter was up 9.2% compared to the same quarter last year. Sell-side analysts expect that Dole PLC will post 1.19 EPS for the current year.

Dole Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 8th. Shareholders of record on Wednesday, March 18th will be paid a $0.085 dividend. The ex-dividend date is Wednesday, March 18th. This represents a $0.34 annualized dividend and a dividend yield of 2.4%. Dole’s payout ratio is 64.15%.

Analyst Ratings Changes

Several research firms recently commented on DOLE. Wall Street Zen downgraded Dole from a “buy” rating to a “hold” rating in a research note on Saturday, March 7th. Weiss Ratings reissued a “hold (c-)” rating on shares of Dole in a research note on Monday, December 29th. Two equities research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $16.00.

Dole 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.