Will Dole’s Sale Of Their Packaged Foods Division Appease These Top Institutional Shareholders?

Dole Food Company, Inc. (NYSE:DOLE) is up almost 5% in response to an article in Barrons that claims the company stock is an investment opportunity after falling 26% on news of the sale of the company’s packaged foods and Asian food operations to the Japanese company Itochu. According to the article, the sale proceeds could make Dole debt free and also release capital which could be returned to shareholders. What’s more, the company’s current valuation is 6.7 times their 2013 earnings before taxes, interest, depreciation and amortization (EBTIDA) and in line with historical multiples relating to fruit companies, and could fall to just four times if one accounted for the farmland owned by the company which is valued at about $500 million.

Will Dole Food Company Inc.’s shareholders increase their holdings? They reported owning a total of 3.147 million shares on 12/31/2012. The shares closed at $11.47 on 12/31/2012.

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Here are the ten largest positions in Dole Food Company Inc. at the end of December 31st, 2012.

Scott & Stringfellow LLC. held 2,460,146 shares on 12/31/2012 worth $28,217,875. This brought the portfolio total to 0.51%.

California Public Employees Retirement System held 245,500 shares on 12/31/2012 worth $2,815,885. This brought the portfolio total to 0.01%.

BB&T Corp. held 185,013 shares on 12/31/2012 worth $2,122,099. This brought the portfolio total to 0.09%.

Capstone Investment Advisors LLC. held 87,500 shares on 12/31/2012 worth $1,003,625. This brought the portfolio total to 0.01%.

New Jersey Better Educational Savings Trust held 70,000 shares on 12/31/2012 worth $802,900. This brought the portfolio total to 0.49%.

Capstone Investment Advisors LLC. held 53,000 shares on 12/31/2012 worth $607,000. This brought the portfolio total to 0.0%.

Metropolitan Life Insurance Co./NY held 31,846 shares on 12/31/2012 worth $365,274. This brought the portfolio total to 0.0%.

Sei Trust Co. held 6,800 shares on 12/31/2012 worth $77,996. This brought the portfolio total to 0.0%.

Livforsakringsaktiebolaget Skandia (Publ) held 6,200 shares on 12/31/2012 worth $71,114. This brought the portfolio total to 0.06%.

DA Davidson & Co. held 793 shares on 12/31/2012 worth $9,096. This brought the portfolio total to 0.0%.

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