Dole (NYSE:DOLE) Rating Lowered to “Hold” at Wall Street Zen

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

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

Dole Price Performance

NYSE:DOLE opened at $15.29 on Friday. Dole has a one year low of $12.52 and a one year high of $16.57. 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 stock has a market cap of $1.45 billion, a PE ratio of 28.84, a P/E/G ratio of 1.24 and a beta of 0.64. The stock has a 50 day moving average price of $15.38 and a 200 day moving average price of $14.43.

Dole (NYSE:DOLE) last announced its quarterly earnings data on Wednesday, February 25th. The company reported $0.14 EPS for the quarter, topping analysts’ consensus estimates of $0.12 by $0.02. The firm had revenue of $2.37 billion for the quarter, compared to the consensus estimate of $2.32 billion. Dole had a return on equity of 7.81% and a net margin of 0.56%.The firm’s revenue was up 9.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.16 earnings per share. Equities research analysts expect that Dole will post 1.19 EPS for the current fiscal year.

Dole declared that its Board of Directors has authorized a stock repurchase program on Monday, November 10th that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the company to repurchase up to 8.3% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its stock is undervalued.

Institutional Investors Weigh In On Dole

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. River Road Asset Management LLC grew its holdings in shares of Dole by 12.9% during the 4th quarter. River Road Asset Management LLC now owns 4,617,435 shares of the company’s stock worth $69,215,000 after purchasing an additional 525,801 shares during the period. Invesco Ltd. raised its holdings in Dole by 103.9% in the 4th quarter. Invesco Ltd. now owns 264,074 shares of the company’s stock valued at $3,958,000 after buying an additional 134,558 shares during the period. Vident Advisory LLC raised its holdings in Dole by 1.6% in the 4th quarter. Vident Advisory LLC now owns 42,190 shares of the company’s stock valued at $632,000 after buying an additional 678 shares during the period. Mackenzie Financial Corp lifted its position in Dole by 10.8% in the fourth quarter. Mackenzie Financial Corp now owns 13,462 shares of the company’s stock valued at $201,000 after buying an additional 1,314 shares during the last quarter. Finally, Voloridge Investment Management LLC boosted its stake in Dole by 19.4% during the fourth quarter. Voloridge Investment Management LLC now owns 512,064 shares of the company’s stock worth $7,676,000 after buying an additional 83,368 shares during the period.

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.