Dole PLC (NYSE:DOLE) Short Interest Update

Dole PLC (NYSE:DOLE) was the target of a large increase in short interest during the month of January. As of January 15th, there was short interest totaling 1,251,498 shares, an increase of 22.7% from the December 31st total of 1,020,184 shares. Approximately 1.3% of the company’s shares are sold short. Based on an average daily trading volume, of 609,783 shares, the short-interest ratio is currently 2.1 days. Based on an average daily trading volume, of 609,783 shares, the short-interest ratio is currently 2.1 days. Approximately 1.3% of the company’s shares are sold short.

Dole Stock Up 1.4%

Shares of NYSE DOLE opened at $16.36 on Thursday. The stock has a fifty day moving average price of $15.04 and a 200 day moving average price of $14.18. The company has a current ratio of 1.21, a quick ratio of 0.90 and a debt-to-equity ratio of 0.60. Dole has a 12-month low of $12.52 and a 12-month high of $16.50. The company has a market cap of $1.56 billion, a P/E ratio of 109.07, a P/E/G ratio of 1.97 and a beta of 0.64.

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

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

Dole Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 6th. Shareholders 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 yield of 2.1%. Dole’s dividend payout ratio (DPR) is 226.67%.

Institutional Investors Weigh In On Dole

Large investors have recently added to or reduced their stakes in the company. Victory Capital Management Inc. grew its stake in Dole by 30.6% during the 3rd quarter. Victory Capital Management Inc. now owns 4,938,971 shares of the company’s stock valued at $66,380,000 after purchasing an additional 1,155,983 shares in the last quarter. Balyasny Asset Management L.P. acquired a new position in shares of Dole in the 3rd quarter valued at approximately $10,924,000. Acadian Asset Management LLC boosted its stake in shares of Dole by 147.3% during the 2nd quarter. Acadian Asset Management LLC now owns 1,350,546 shares of the company’s stock valued at $18,878,000 after buying an additional 804,471 shares during the last quarter. Panview Capital Ltd acquired a new stake in shares of Dole during the third quarter worth approximately $9,408,000. Finally, Algert Global LLC increased its stake in shares of Dole by 2,173.6% in the third quarter. Algert Global LLC now owns 595,869 shares of the company’s stock worth $8,008,000 after buying an additional 569,661 shares during the last quarter.

Analyst Upgrades and Downgrades

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

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.