Dole (NYSE:DOLE) Stock Price Passes Above 200-Day Moving Average – Here’s What Happened

Dole PLC (NYSE:DOLE)’s share price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $14.43 and traded as high as $14.49. Dole shares last traded at $14.4710, with a volume of 515,082 shares trading hands.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Dole in a report on Monday, December 29th. Wall Street Zen lowered Dole from a “buy” rating to a “hold” rating in a research report on Saturday, March 7th. Two analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $16.00.

Dole Stock Performance

The firm’s fifty day moving average price is $15.34 and its 200-day moving average price is $14.43. The company has a current ratio of 1.17, a quick ratio of 0.83 and a debt-to-equity ratio of 0.54. The firm has a market cap of $1.40 billion, a price-to-earnings ratio of 27.76, a PEG ratio of 1.18 and a beta of 0.64.

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

Dole Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 8th. Investors of record on Wednesday, March 18th will be given a $0.085 dividend. The ex-dividend date of this dividend is Wednesday, March 18th. This represents a $0.34 dividend on an annualized basis and a dividend yield of 2.3%. Dole’s dividend payout ratio is 64.15%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in DOLE. River Road Asset Management LLC boosted its holdings in shares of Dole by 12.9% in the fourth quarter. River Road Asset Management LLC now owns 4,617,435 shares of the company’s stock valued at $69,215,000 after acquiring an additional 525,801 shares during the period. Invesco Ltd. increased its holdings in shares of Dole by 103.9% in the 4th quarter. Invesco Ltd. now owns 264,074 shares of the company’s stock valued at $3,958,000 after acquiring an additional 134,558 shares during the period. Vident Advisory LLC increased its holdings in shares of Dole by 1.6% in the 4th quarter. Vident Advisory LLC now owns 42,190 shares of the company’s stock valued at $632,000 after acquiring an additional 678 shares during the period. Mackenzie Financial Corp raised its position in Dole by 10.8% in the 4th quarter. Mackenzie Financial Corp now owns 13,462 shares of the company’s stock valued at $201,000 after purchasing an additional 1,314 shares during the last quarter. Finally, Voloridge Investment Management LLC raised its position in Dole by 19.4% in the 4th quarter. Voloridge Investment Management LLC now owns 512,064 shares of the company’s stock valued at $7,676,000 after purchasing an additional 83,368 shares during the last quarter.

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.