Dole (NYSE:DOLE) Stock Crosses Above Two Hundred Day Moving Average – Here’s What Happened

Dole PLC (NYSE:DOLE)’s share price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $14.43 and traded as high as $14.49. Dole shares last traded at $14.4710, with a volume of 515,082 shares changing hands.

Analysts Set New Price Targets

DOLE has been the subject of several recent analyst reports. Weiss Ratings reiterated a “hold (c-)” rating on shares of Dole in a research note on Monday, December 29th. Wall Street Zen downgraded Dole from a “buy” rating to a “hold” rating in a research note on Saturday, March 7th. Two equities research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $16.00.

Dole Stock Performance

The firm’s fifty day moving average price is $15.35 and its 200-day moving average price is $14.43. The company has a market cap of $1.38 billion, a P/E ratio of 27.30, a P/E/G ratio of 1.16 and a beta of 0.64. 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 released its quarterly earnings data on Wednesday, February 25th. The company reported $0.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.12 by $0.02. The business had revenue of $2.37 billion for the quarter, compared to analysts’ expectations of $2.32 billion. Dole had a return on equity of 7.81% and a net margin of 0.56%.Dole’s quarterly revenue was up 9.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.16 earnings per share. As a group, research analysts forecast that Dole PLC will post 1.19 EPS for the current fiscal year.

Dole Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 8th. Investors of record on Wednesday, March 18th will be issued a $0.085 dividend. This represents a $0.34 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend is Wednesday, March 18th. Dole’s payout ratio is currently 64.15%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Victory Capital Management Inc. grew its holdings in shares of Dole by 1.0% in the 4th quarter. Victory Capital Management Inc. now owns 4,987,681 shares of the company’s stock valued at $74,765,000 after buying an additional 48,710 shares during the period. River Road Asset Management LLC increased its position in shares of Dole by 12.9% in the 4th quarter. River Road Asset Management LLC now owns 4,617,435 shares of the company’s stock valued at $69,215,000 after buying an additional 525,801 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Dole by 13.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,339,203 shares of the company’s stock worth $65,044,000 after buying an additional 523,287 shares during the period. American Century Companies Inc. raised its stake in Dole by 13.6% during the 3rd quarter. American Century Companies Inc. now owns 2,078,957 shares of the company’s stock worth $27,941,000 after buying an additional 248,703 shares during the period. Finally, Impax Asset Management Group plc lifted its holdings in Dole by 9.8% during the third quarter. Impax Asset Management Group plc now owns 1,675,545 shares of the company’s stock worth $22,519,000 after acquiring an additional 148,896 shares in the last quarter.

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.