Dole (NYSE:DOLE) Receives Hold Rating from Deutsche Bank Aktiengesellschaft

Deutsche Bank Aktiengesellschaft reiterated their hold rating on shares of Dole (NYSE:DOLE) in a research note published on Monday, Marketbeat.com reports. They currently have a $15.00 price objective on the stock, down from their previous price objective of $18.00.

DOLE has been the subject of a number of other reports. Weiss Ratings reaffirmed 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. Three equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Dole currently has an average rating of “Hold” and an average price target of $15.50.

Dole Stock Performance

Shares of DOLE stock opened at $14.37 on Monday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.83 and a current ratio of 1.17. The company has a market capitalization of $1.37 billion, a P/E ratio of 27.11, a price-to-earnings-growth ratio of 1.20 and a beta of 0.64. The company’s 50 day moving average price is $15.34 and its two-hundred day moving average price is $14.45. Dole has a 52 week low of $12.52 and a 52 week high of $16.57.

Dole (NYSE:DOLE) last released its quarterly earnings results on Wednesday, February 25th. The company reported $0.14 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts’ expectations of $2.32 billion. During the same quarter in the prior year, the company earned $0.16 earnings per share. The business’s quarterly revenue was up 9.2% compared to the same quarter last year. On average, analysts expect that Dole will post 1.19 earnings per share for the current fiscal year.

Dole Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 8th. Investors of record on Wednesday, March 18th will be given a $0.085 dividend. The ex-dividend date of this dividend is Wednesday, March 18th. This represents a $0.34 dividend on an annualized basis and a dividend yield of 2.4%. Dole’s payout ratio is currently 64.15%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. AQR Capital Management LLC increased its position 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 purchasing an additional 10,793 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of 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 buying an additional 1,879 shares in the last quarter. Millennium Management LLC bought a new position in shares of Dole in the first quarter valued at $6,749,000. Jane Street Group LLC increased its holdings 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 buying an additional 99,842 shares during the last quarter. Finally, Creative Planning raised its position in Dole by 66.5% during the second quarter. Creative Planning now owns 49,218 shares of the company’s stock worth $689,000 after acquiring an additional 19,660 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.