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Dole said on March 7, 2023 that its board of directors declared a regular
quarterly dividend of $0.08 per share ($0.32 annualized).
Previously, the company paid $0.08 per share.
Shares must be purchased before the ex-div date of March 30, 2023 to qualify for the dividend.
Shareholders of record as of March 31, 2023
will receive the payment on April 24, 2023.
At the current share price of $11.83 / share,
the stock’s dividend yield is 2.70%.
Looking back five years and taking a sample every week, the average dividend yield has been
2.89%,
the lowest has been 1.99%,
and the highest has been 4.23%.
The standard deviation of yields is 0.65 (n=66).
The current dividend yield is
0.29 standard deviations
below
the historical average.
Additionally, the company’s dividend payout ratio is 0.35.
The payout ratio tells us how much of a company’s income is paid out in dividends. A payout ratio of one (1.0)
means 100% of the company’s income is paid in a dividend.
A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend – not a
healthy situation.
Companies with few growth prospects are expected to pay out most of their income in dividends, which typically
means a payout ratio between 0.5 and 1.0.
Companies with good growth prospects are expected to retain some earnings in order to invest
in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company’s 3-Year dividend growth rate is 8.17%,
demonstrating that it has increased its dividend over time.
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Analyst Price Forecast Suggests 20.19% Upside
As of March 8, 2023,
the average one-year price target for Dole is $14.22.
The forecasts range from a low of $9.09 to a high of $17.85.
The average price target represents an increase of 20.19% from its latest reported closing price of $11.83.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Dole
is $9,578MM, an increase of 3.78%.
The projected annual non-GAAP EPS
is $1.22.
What is the Fund Sentiment?
There are 109 funds or institutions reporting positions in Dole.
This is a decrease
of
12
owner(s) or 9.92% in the last quarter.
Average portfolio weight of all funds dedicated to DOLE is 0.36%,
an increase
of 43.47%.
Total shares owned by institutions increased
in the last three months by 19.06% to 34,117K shares.
The put/call ratio of DOLE is 0.06, indicating a
bullish
outlook.
What are Large Shareholders Doing?
Pale Fire Capital SE
holds 7,363K shares
representing 7.76% ownership of the company.
Rubric Capital Management
holds 4,500K shares
representing 4.74% ownership of the company.
In it’s prior filing, the firm reported owning 3,250K shares, representing
an increase
of 27.79%.
The firm
increased
its portfolio allocation in DOLE by 58.44% over the last quarter.
Impax Asset Management Group
holds 4,377K shares
representing 4.61% ownership of the company.
In it’s prior filing, the firm reported owning 4,198K shares, representing
an increase
of 4.07%.
The firm
increased
its portfolio allocation in DOLE by 19.96% over the last quarter.
Redwood Capital Management
holds 2,558K shares
representing 2.70% ownership of the company.
No change in the last quarter.
Gmt Capital
holds 1,650K shares
representing 1.74% ownership of the company.
In it’s prior filing, the firm reported owning 1,806K shares, representing
a decrease
of 9.48%.
The firm
decreased
its portfolio allocation in DOLE by 10.24% over the last quarter.
Dole Background Information
(This description is provided by the company.)
Dole plc produces and distributes food products. The Company offers fresh fruit, vegetables, and food products such as bananas, pineapples, berries, avocados, and other organic produce. Dole serves customers worldwide.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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