An issue of Dean Foods Co (NYSE:DF) bonds fell 2.2% against their face value during trading on Thursday. The high-yield issue of debt has a 6.5% coupon and will mature on March 15, 2023. The bonds in the issue are now trading at $69.06 and were trading at $75.13 one week ago. Price moves in a company’s bonds in credit markets sometimes anticipate parallel moves in its share price.
Several brokerages have commented on DF. ValuEngine upgraded shares of Dean Foods from a “hold” rating to a “buy” rating in a research note on Tuesday, November 13th. BMO Capital Markets decreased their price objective on shares of Dean Foods from $7.00 to $5.00 and set a “market perform” rating for the company in a research note on Thursday, February 28th. Credit Suisse Group set a $3.00 price objective on shares of Dean Foods and gave the company a “sell” rating in a research note on Thursday, February 28th. TheStreet cut shares of Dean Foods from a “c-” rating to a “d+” rating in a research note on Wednesday, November 21st. Finally, JPMorgan Chase & Co. upgraded shares of Dean Foods from an “underweight” rating to a “neutral” rating in a research note on Friday. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $6.29.
Shares of DF traded down $0.17 during trading hours on Friday, hitting $2.88. The stock had a trading volume of 4,338,087 shares, compared to its average volume of 1,876,039. The company has a debt-to-equity ratio of 1.52, a current ratio of 1.45 and a quick ratio of 1.05. Dean Foods Co has a fifty-two week low of $2.81 and a fifty-two week high of $11.14. The stock has a market cap of $278.77 million, a P/E ratio of -6.13 and a beta of 0.43.
Dean Foods (NYSE:DF) last posted its earnings results on Wednesday, February 27th. The company reported ($0.50) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.26) by ($0.24). Dean Foods had a negative net margin of 0.19% and a positive return on equity of 4.01%. The firm had revenue of $1.93 billion during the quarter, compared to analyst estimates of $1.91 billion. During the same quarter in the prior year, the firm earned $0.25 earnings per share. The business’s revenue for the quarter was down .3% on a year-over-year basis. Equities analysts expect that Dean Foods Co will post -0.34 EPS for the current year.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Commonwealth Bank of Australia acquired a new position in shares of Dean Foods in the 3rd quarter valued at $325,000. Putnam Investments LLC raised its position in Dean Foods by 93.3% during the third quarter. Putnam Investments LLC now owns 152,345 shares of the company’s stock worth $1,082,000 after acquiring an additional 73,545 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its position in Dean Foods by 175.4% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 259,450 shares of the company’s stock worth $1,842,000 after acquiring an additional 165,225 shares during the period. CWM Advisors LLC raised its position in Dean Foods by 42.0% during the fourth quarter. CWM Advisors LLC now owns 21,162 shares of the company’s stock worth $81,000 after acquiring an additional 6,254 shares during the period. Finally, Dynamic Technology Lab Private Ltd acquired a new position in Dean Foods during the third quarter worth $300,000. Hedge funds and other institutional investors own 84.42% of the company’s stock.
About Dean Foods (NYSE:DF)
Dean Foods Company, a food and beverage company, processes and distributes milk, and other dairy and dairy case products in the United States. The company manufactures, markets, and distributes various branded and private label dairy, and diary case products, such as fluid milk, ice creams, cultured dairy products, creamers, ice cream mixes, and other dairy products; and juices, teas, bottled water, and other products.
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