Dean Foods Company (DF) Bonds Trading 1.8% Lower Earnings

An issue of Dean Foods Company (NYSE:DF) bonds fell 1.8% against their face value during trading on Tuesday following a dissappointing earnings announcement. The debt issue has a 6.5% coupon and will mature on March 15, 2023. The debt is now trading at $102.63 and was trading at $104.61 one week ago. Price changes in a company’s bonds in credit markets often anticipate parallel changes in its share price. The company reported $0.21 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.30 by $0.09. The firm had revenue of $1.93 billion during the quarter, compared to analyst estimates of $1.94 billion. Dean Foods had a return on equity of 16.63% and a net margin of 0.70%. The firm’s revenue was up 4.2% on a year-over-year basis. During the same period last year, the business earned $0.38 EPS.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 30th. Shareholders of record on Monday, August 21st will be paid a dividend of $0.09 per share. The ex-dividend date of this dividend is Thursday, August 17th. This represents a $0.36 annualized dividend and a yield of 3.05%. Dean Foods’s payout ratio is 60.00%.

DF has been the subject of several research reports. Jefferies Group LLC restated a “buy” rating and set a $24.00 price objective on shares of Dean Foods in a research report on Wednesday, April 26th. Zacks Investment Research upgraded shares of Dean Foods from a “sell” rating to a “hold” rating and set a $22.00 target price for the company in a report on Monday, April 24th. TheStreet lowered shares of Dean Foods from a “b” rating to a “c+” rating in a research report on Tuesday, May 9th. ValuEngine lowered shares of Dean Foods from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Finally, Wells Fargo & Company reissued an “outperform” rating and issued a $25.00 price target (up previously from $24.50) on shares of Dean Foods in a research report on Monday, May 15th. Five equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the stock. Dean Foods has a consensus rating of “Hold” and an average price target of $15.40.

Institutional investors have recently added to or reduced their stakes in the company. Flinton Capital Management LLC increased its position in Dean Foods by 60.6% in the second quarter. Flinton Capital Management LLC now owns 6,448 shares of the company’s stock worth $110,000 after buying an additional 2,432 shares during the period. PNC Financial Services Group Inc. boosted its stake in shares of Dean Foods by 13.8% in the first quarter. PNC Financial Services Group Inc. now owns 5,670 shares of the company’s stock worth $111,000 after buying an additional 686 shares in the last quarter. Riverhead Capital Management LLC boosted its stake in shares of Dean Foods by 62.0% in the second quarter. Riverhead Capital Management LLC now owns 7,128 shares of the company’s stock worth $121,000 after buying an additional 2,728 shares in the last quarter. LS Investment Advisors LLC boosted its stake in Dean Foods by 17.5% in the second quarter. LS Investment Advisors LLC now owns 7,275 shares of the company’s stock worth $124,000 after buying an additional 1,081 shares during the period. Finally, Advisor Group Inc. boosted its position in Dean Foods by 40.7% in the second quarter. Advisor Group Inc. now owns 7,857 shares of the company’s stock valued at $133,000 after buying an additional 2,271 shares during the last quarter.

The firm has a 50-day moving average of $14.56 and a 200-day moving average of $17.82. The stock has a market cap of $1.07 billion, a PE ratio of 19.33 and a beta of 0.54.

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About Dean Foods

Dean Foods Company is a food and beverage company. The Company processes and distributes fluid milk, and other dairy and dairy case products in the United States. It is engaged in manufacturing, marketing, selling and distributing a range of branded and private label dairy and dairy case products. It offers branded and private label dairy case products, including fluid milk, ice cream, cultured dairy products, creamers, ice cream mix and other dairy products to retailers, distributors, foodservice outlets, educational institutions and governmental entities across the United States.

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