Invenomic Capital Management LP Purchases 56,492 Shares of Dole PLC $DOLE

Invenomic Capital Management LP grew its position in shares of Dole PLC (NYSE:DOLE) by 3.7% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,597,451 shares of the company’s stock after buying an additional 56,492 shares during the quarter. Dole accounts for approximately 1.1% of Invenomic Capital Management LP’s investment portfolio, making the stock its 24th biggest holding. Invenomic Capital Management LP owned 1.68% of Dole worth $23,946,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Tudor Investment Corp ET AL boosted its position in Dole by 254.6% in the third quarter. Tudor Investment Corp ET AL now owns 332,609 shares of the company’s stock worth $4,470,000 after purchasing an additional 238,819 shares during the last quarter. Atlantic Investment Management Inc. purchased a new position in shares of Dole in the 3rd quarter worth about $4,435,000. SG Americas Securities LLC bought a new position in Dole during the fourth quarter valued at about $5,567,000. American Century Companies Inc. grew its position in Dole by 13.6% during the third quarter. American Century Companies Inc. now owns 2,078,957 shares of the company’s stock valued at $27,941,000 after buying an additional 248,703 shares during the period. Finally, Ghisallo Capital Management LLC purchased a new stake in Dole during the third quarter worth about $3,360,000.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on DOLE shares. Wall Street Zen downgraded shares of Dole from a “buy” rating to a “hold” rating in a research report on Saturday, March 7th. Weiss Ratings lowered Dole from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, April 29th. Zacks Research lowered Dole from a “hold” rating to a “strong sell” rating in a research note on Tuesday, May 12th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $15.00 price target (down from $18.00) on shares of Dole in a research note on Monday, March 30th. Three investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Dole presently has a consensus rating of “Reduce” and a consensus target price of $15.50.

Dole Price Performance

Dole stock opened at $14.13 on Thursday. The firm has a market capitalization of $1.34 billion, a P/E ratio of 31.39, a PEG ratio of 1.60 and a beta of 0.63. Dole PLC 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 0.59, a current ratio of 1.25 and a quick ratio of 0.91. The business has a fifty day moving average price of $14.62 and a 200-day moving average price of $14.93.

Dole (NYSE:DOLE) last issued its quarterly earnings data on Monday, May 11th. The company reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.03). Dole had a return on equity of 7.63% and a net margin of 0.46%.The company had revenue of $2.34 billion for the quarter, compared to analysts’ expectations of $2.23 billion. During the same period last year, the company posted $0.35 EPS. The business’s revenue for the quarter was up 11.6% on a year-over-year basis. As a group, equities research analysts forecast that Dole PLC will post 1.39 EPS for the current year.

Dole Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 8th. Shareholders of record on Wednesday, June 17th will be paid a $0.085 dividend. The ex-dividend date is Wednesday, June 17th. This represents a $0.34 annualized dividend and a yield of 2.4%. Dole’s dividend payout ratio is currently 75.56%.

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.