Dole gets the call-up to join two Russell indexes
Dole plc (NYSE:DOLE) will join the broad-market Russell 3000 Index and the small-cap Russell 2000 Index as part of the annual reconstitution of the indexes. The food stock will join the two indexes effective after the market opens on June 26.
Membership in the US all-cap Russell 3000 Index, which remains in place for one year, means automatic inclusion in the large-cap Russell 1000 Index or small-cap Russell 2000 Index as well as the appropriate growth and value style indexes. FTSE Russell is noted to determine membership for its Russell indexes primarily by objective, market-capitalization rankings and style attributes. Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies.
Shares of Ddole (DOLE) are up more than 38% on a year-to-date basis and carved out a new 52-week high of $13.41 on Thursday. As part of its outlook given alongside the recent earnings report, the company said that the operating environment so far in 2023 continues to bring with it both new opportunities and new challenges as supply chain improvements have been balanced by adverse weather impacts.
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