Dole plc (DOLE): A Bull Case Theory

We came across a bullish thesis on Dole plc on Investing subreddit by InformationOk4114. In this article, we will summarize the bulls’ thesis on DOLE. Dole plc's share was trading at $13.06 as of October 15th. DOLE’s trailing and forward P/E were 11.14 and 7.63 respectively according to Yahoo Finance.

Dole plc (DOLE) has experienced a 10% decline following the announcement of a secondary offering at $13.25 per share, representing a discount to its September 3rd closing price of $14.70. The sell-off, however, is unrelated to business fundamentals and stems from the estate of David Murdock, the company’s 13% legacy shareholder, who passed away in June 2025 at age 102. The offering reflects a tax-efficient divestment by his heirs, seeking to liquidate the position with a step-up in cost basis.

 Murdock and his family had no operational involvement in the business and had long signaled their intent to exit, making this a purely technical overhang rather than a reflection of deteriorating company performance. The McCann family, which leads Dole and owns 7.7% of the equity, has not sold any shares, signaling continued confidence in the company’s long-term outlook. The market’s reaction appears sentiment-driven, typical of “fake insider” selling events that often create short-term mispricing.

Near term, a recovery toward pre-announcement levels of around $14.70 seems likely as selling pressure abates. From a long-term perspective, the removal of a large legacy shareholder simplifies Dole’s ownership structure and broadens its potential investor base, setting the stage for improved liquidity and institutional participation. Fundamentally, Dole remains a profitable and stable business with attractive valuation metrics, trading at roughly 6x EV/EBITDA and under 10x free cash flow, offering solid value for investors positioned for both recovery and sustained performance.

Previously we covered a bullish thesis on Cal-Maine Foods, Inc. (CALM) by Charly AI in April 2025, which highlighted the company’s strong growth driven by elevated egg prices, operational efficiency, and strategic acquisitions. The company’s stock price has been flat since our coverage. This is because the thesis didn’t fully play out amid natural volatility in egg prices. The thesis still stands as CALM’s fundamentals remain solid. InformationOk4114 shares a similar but emphasizes on Dole plc’s undervalued position and temporary market mispricing.

Dole plc is not on our list of the 30 Most Popular Stocks Among Hedge Funds. As per our database, 24 hedge fund portfolios held DOLE at the end of the second quarter which was 26 in the previous quarter. While we acknowledge the potential of DOLE as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

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Disclosure: None.