Dole PLC (DOLE) To Go Ex-Dividend on September 16th

Dole PLC (NYSE:DOLE) declared a quarterly dividend on Friday, August 7th. Stockholders of record on Wednesday, September 16th will be given a dividend of 0.085 per share on Wednesday, October 7th. This represents a c) dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date is Wednesday, September 16th.

Dole has a payout ratio of 22.7% meaning its dividend is sufficiently covered by earnings. Research analysts expect Dole to earn $1.45 per share next year, which means the company should continue to be able to cover its $0.34 annual dividend with an expected future payout ratio of 23.4%.

Dole Stock Performance

Shares of DOLE opened at $13.38 on Monday. Dole has a 1 year low of $12.52 and a 1 year high of $16.57. The company’s 50 day simple moving average is $13.82 and its 200 day simple moving average is $14.33. The company has a market capitalization of $1.26 billion, a price-to-earnings ratio of 21.57, a PEG ratio of 1.40 and a beta of 0.61. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.98 and a current ratio of 1.28.

Dole (NYSE:DOLE) last released its earnings results on Monday, August 10th. The company reported $0.46 EPS for the quarter, hitting the consensus estimate of $0.46. Dole had a net margin of 0.63% and a return on equity of 7.06%. The firm had revenue of $2.50 billion during the quarter, compared to analysts’ expectations of $2.53 billion. During the same period in the previous year, the company earned $0.55 EPS. Dole’s revenue for the quarter was up 2.9% on a year-over-year basis. On average, sell-side analysts predict that Dole will post 1.4 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. AQR Capital Management LLC increased its stake in Dole by 28.5% during the first quarter. AQR Capital Management LLC now owns 48,685 shares of the company’s stock worth $703,000 after acquiring an additional 10,793 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Dole by 4.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 44,593 shares of the company’s stock valued at $644,000 after purchasing an additional 1,879 shares in the last quarter. Millennium Management LLC acquired a new position in shares of Dole in the 1st quarter valued at about $6,749,000. Jane Street Group LLC grew its holdings 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 purchasing an additional 99,842 shares during the period. Finally, Legal & General Group Plc grew its holdings in shares of Dole by 96.4% during the 2nd quarter. Legal & General Group Plc now owns 22,106 shares of the company’s stock worth $309,000 after purchasing an additional 10,849 shares during the period.

About Dole

Dole plc (NYSE: DOLE) is a global producer, marketer and distributor of fresh fruits and vegetables. The company’s portfolio includes bananas, pineapples, grapes, berries, avocados, melons, salads, packaged vegetables and other fresh produce. It supplies retail, foodservice and wholesale customers through sourcing, farming, processing, distribution and marketing operations.

The company serves customers across North America, Europe, Latin America, Asia and other international markets. Its vertically integrated operations include agricultural production, procurement from independent growers, fresh-cut processing, cold storage, transportation and distribution.