Normally insiders are quick to sell when a stock pops big. Not so with Dole. Murdoch who controls the company, stepped up and bought about $50 million dollars worth of Dole stock after the Company announced the sale of some of their businesses to Itochu for $1.7 billion. When this deal concludes this year, the new Dole will be essentially debt free. I thought this article from Seeking Alpha was one of the better pieces I’ve read regarding the value of Dole.
Earlier this year I completely dedicated myself to learning the techniques, process, and proper mind set to become an excellent value investor. I wrote my first full article back in June about Dole Food Company DOLE. Here are my thoughts on Dole back in June, and my conclusion thoughts after comparing Dole to Chiquita CQB and Fresh Del Monte FDP. Due to its big change since that time I have been asked by a reader what my thoughts about New Dole are now that it has eliminated what was its biggest problem; its debt. Here is just one of the many articles outlining the sale to Itochu for $1.7 billion that is expected to close by the end of the year.
via Dole Is Still Undervalued: Updated Valuation And Analysis After Sale To Itochu – Seeking Alpha.