Invenomic Capital Management LP Raises Position in Dole PLC $DOLE

Invenomic Capital Management LP lifted its position in shares of Dole PLC (NYSE:DOLE) by 24.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,540,959 shares of the company’s stock after acquiring an additional 301,319 shares during the quarter. Invenomic Capital Management LP owned 1.62% of Dole worth $20,710,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in DOLE. New York State Common Retirement Fund raised its stake in shares of Dole by 46.4% during the 3rd quarter. New York State Common Retirement Fund now owns 233,867 shares of the company’s stock worth $3,143,000 after buying an additional 74,096 shares in the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd boosted its stake in shares of Dole by 117.4% in the third quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 207,086 shares of the company’s stock valued at $2,783,000 after buying an additional 111,829 shares in the last quarter. Waterfront Wealth Inc. lifted its holdings in Dole by 76.1% in the third quarter. Waterfront Wealth Inc. now owns 167,380 shares of the company’s stock valued at $2,188,000 after acquiring an additional 72,346 shares during the period. American Century Companies Inc. boosted its position in shares of Dole by 13.6% during the 3rd quarter. American Century Companies Inc. now owns 2,078,957 shares of the company’s stock worth $27,941,000 after purchasing an additional 248,703 shares in the last quarter. Finally, Impax Asset Management Group plc boosted its position in shares of Dole by 9.8% during the 3rd quarter. Impax Asset Management Group plc now owns 1,675,545 shares of the company’s stock worth $22,519,000 after purchasing an additional 148,896 shares in the last quarter.

Dole Stock Down 0.3%

DOLE stock opened at $14.36 on Monday. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.17 and a quick ratio of 0.83. The company’s 50 day simple moving average is $15.35 and its 200-day simple moving average is $14.42. Dole PLC has a 12 month low of $12.52 and a 12 month high of $16.57. The firm has a market capitalization of $1.37 billion, a PE ratio of 27.09, a P/E/G ratio of 1.17 and a beta of 0.64.

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

Dole Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 8th. Stockholders of record on Wednesday, March 18th will be given a $0.085 dividend. This represents a $0.34 annualized dividend and a dividend yield of 2.4%. The ex-dividend date is Wednesday, March 18th. Dole’s dividend payout ratio is currently 64.15%.

Analyst Upgrades and Downgrades

Several analysts recently commented 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 downgraded shares of Dole from a “buy” rating to a “hold” rating in a research report on Saturday, March 7th. Two investment analysts have rated the stock with a Hold rating, According to MarketBeat.com, Dole has a consensus rating of “Hold” and an average target price of $16.00.

Dole 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.