Stock question about DOLE?

I have been dabbling all over for about a year with descent profits. I bought in on 570 shares of DOLE about a week or two ago. Now, the deal closed with dole and ITOCHO Corp to sell it's packaging plant for Asia also opening the market their. I am wondering sell now and take the 7% profit and buy back in later or tomorrow or wait??? I have never dealt with buy backs of shares or dividends and have no clue what that will mean. They say the stock could easily shoot to 20$ a share this year. Here are some news letters ...

Dole Food Company, Inc. (NYSE:DOLE) Dole Food Company Inc will sell two businesses to Itochu Corp for $1.7 billion in cash — a deal that will help the world's largest fruit and vegetable producer pay down its heavy debt load while expanding Itochu's food presence in new markets such as China. Given the news, the stock jumped +0.58 (5.71%) bringing the intraday trade price up to $14.40 with about 1.78 million shares exchanged. Stick around

SBWire (http://s.tt/1z2R1)

n David Englander's "Dole's Sweet Outlook," the stage could be set for a special dividend or share buybacks following a recent deal between Dole Food (NYSE: DOLE) and Japan's Itochu. The article says the future could be bright for Dole shareholders.

Read more: http://www.benzinga.com/media/barrons/13/01/327723...

Update:

They are saying though with the 120,000 acres of prime land in the islands which is not considered in the companies money. Could make for HUGE gains.

2 Answers

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  • JoeyV
    Lv 7
    7 years ago
    Favorite Answer

    Paying down debt and doing a stock buyback are pretty much polar opposites of what they could do with the cash. I seriously doubt that Dole is planning a stock buyback with that cash. How much leverage do you think a fruit company should have?

  • nivens
    Lv 4
    3 years ago

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