October Purchases Lift Bayle Fire Capital’s Dole Stake to 10,282,620 Shares

Key Facts

Bayle Fire Capital increased its reported holding in Dole to 10,282,620 shares after buying shares on October 20, 21 and 22, according to filings with the U.S. Securities and Exchange Commission. The total follows an earlier filing on October 14 showing the company owned 9,634,264 shares, equal to about 10.2% of the shares outstanding. The 10.2% figure therefore does not represent the latest holding after the subsequent transactions. Dole shares closed at $13.07 on October 30, according to EL7 data. The company is scheduled to report third-quarter results on November 9 before the market opens.

The 10.2% figure dates to an amendment to an ownership filing tied to an October 9 event and submitted on October 14. The amendment said Bayle Fire Capital SICAV directly owned 9,634,264 Dole shares. The percentage was calculated using the 94,458,807 shares outstanding at the company on July 29, according to its quarterly report filed on August 10. That basis defines the period reflected by the percentage, so it should not automatically be linked to the share count reported after purchases in the following days. The filing also showed that the other entities and individuals named shared voting and dispositive power over the same block, while direct ownership belonged to the SICAV.

In the October 20 transaction, Bayle Fire Capital bought 45,676 shares at $13.2364 each, bringing its reported holding afterward to 9,679,940 shares. It then bought 438,900 shares on October 21 at $13.1166 each, taking the total holding after that transaction to 10,118,840 shares. The following day, it added 163,780 shares at $13.3896 each. That brought the reported total after the final transaction to 10,282,620 shares. The filings document each transaction separately, including its date, price and resulting balance.

In its October 14 filing, the SICAV estimated the total price paid for 9,634,264 shares at about $112,043,544, including brokerage commissions. It said the purchases were funded from working capital. That amount covers the full holding reported in that filing, not the total shares after the October 20 to 22 purchases. The filing also identified direct ownership and shared voting and dispositive power over the same shares. The filing by itself does not establish an intention to change the company’s strategy or seek a specific role in it.

The ownership activity comes ahead of Dole’s third-quarter results. Its second-quarter results, published on August 10, showed revenue of $2,499 million, compared with $2,428 million in the corresponding period of 2025. Net income was $35.1 million, compared with $18.0 million, while diluted earnings per share reached $0.27, up from $0.10. The company said profitability was affected by expected cost pressures in the Fresh Fruit segment. It added that strong performance in the Diversified Fresh Produce Americas and ROW segment partly offset the lower result in Fresh Fruit. These results provide operating context for the upcoming third-quarter announcement.

In the first quarter of 2026, Dole revenue rose 11.6% to $2,342 million, compared with $2,099 million in the corresponding period of 2025, while net income fell to $37.7 million from $44.2 million. Executive Chairman Carl McCann said strong consumer demand was supporting revenue growth, and the company maintained its full-year adjusted EBITDA target of at least $400 million. Dole had warned of higher freight and fuel costs in the second quarter, particularly in Fresh Fruit, while expecting later benefits from contract price adjustments and pricing strategies. It also reported repurchasing 306,570 shares in the first quarter at an average price of $15.13 per share, with $95.4 million remaining available under its repurchase program. The board approved a cash dividend of $0.085 per share for the first quarter, payable to shareholders of record on June 17 and due for payment on July 8.

Dole set November 9 as the date for reporting third-quarter 2026 results before the market opens. Management will host a webcast that day at 8 a.m. Eastern Time. The date follows the series of purchases that filings show was completed on October 22, and the stock’s close at $13.07 on October 30. The results announcement will therefore be the next operating development specified in the company’s filings during this period. The report is expected to present third-quarter performance, while the available filings do not state the purpose of the purchases or Bayle Fire Capital’s intentions toward the company.