Dole (NYSE:DOLE) Stock Price Crosses Above Two Hundred Day Moving Average – What’s Next?

Dole PLC (NYSE:DOLE) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $14.04 and traded as high as $14.92. Dole shares last traded at $14.8950, with a volume of 414,494 shares.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on DOLE shares. Weiss Ratings reiterated a “hold (c-)” rating on shares of Dole in a research note on Monday, December 29th. Wall Street Zen raised shares of Dole from a “hold” rating to a “buy” rating in a report on Saturday, December 13th. Two analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $16.00.

Dole Stock Up 1.7%

The firm has a fifty day simple moving average of $14.59 and a 200-day simple moving average of $14.04. The company has a market capitalization of $1.42 billion, a PE ratio of 99.30, a P/E/G ratio of 1.79 and a beta of 0.64. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.90 and a current ratio of 1.21.

Dole (NYSE:DOLE) last released its quarterly earnings results on Monday, November 10th. The company reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.01). The company had revenue of $2.28 billion for the quarter, compared to analyst estimates of $2.25 billion. Dole had a return on equity of 7.98% and a net margin of 0.17%.The firm’s quarterly revenue was up 10.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.19 EPS. Equities research analysts anticipate that Dole PLC will post 1.19 EPS for the current fiscal year.

Dole Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, January 6th. Stockholders of record on Tuesday, December 9th were given a $0.085 dividend. The ex-dividend date of this dividend was Tuesday, December 9th. This represents a $0.34 annualized dividend and a dividend yield of 2.3%. Dole’s payout ratio is presently 226.67%.

Dole announced that its Board of Directors has initiated a share repurchase plan on Monday, November 10th that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 8.3% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

Hedge Funds Weigh In On Dole

A number of hedge funds have recently bought and sold shares of the company. Osaic Holdings Inc. lifted its holdings in Dole by 120.8% during the 2nd quarter. Osaic Holdings Inc. now owns 1,835 shares of the company’s stock worth $26,000 after buying an additional 1,004 shares during the last quarter. Westfuller Advisors LLC acquired a new stake in shares of Dole during the 3rd quarter valued at approximately $49,000. NewEdge Advisors LLC lifted its stake in Dole by 269.0% during the second quarter. NewEdge Advisors LLC now owns 3,716 shares of the company’s stock worth $52,000 after purchasing an additional 2,709 shares during the last quarter. State of Alaska Department of Revenue acquired a new position in Dole in the third quarter worth $50,000. Finally, CWM LLC increased its stake in Dole by 39.5% during the second quarter. CWM LLC now owns 6,234 shares of the company’s stock valued at $87,000 after purchasing an additional 1,765 shares during 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.