Dean Foods Company (DF) Bond Prices Fall 1.8% Earnings
An issue of Dean Foods Company (NYSE:DF) debt fell 1.8% as a percentage of its face value during trading on Tuesday following a weaker than expected earnings announcement. The debt issue has a 6.5% coupon and is set to mature on March 15, 2023. The bonds in the issue are now trading at $102.63 and were trading at $104.61 one week ago. Price changes in a company’s debt in credit markets often predict parallel changes in its stock price. The company reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.30 by $0.09. Dean Foods had a return on equity of 19.34% and a net margin of 0.91%. The company had revenue of $1.93 billion for the quarter, compared to analyst estimates of $1.94 billion. During the same quarter in the prior year, the company earned $0.38 earnings per share. The business’s revenue was up 4.2% compared to the same quarter last year.
Several research firms have issued reports on DF. Vertical Research lowered Dean Foods from a “buy” rating to a “hold” rating in a research note on Tuesday. J P Morgan Chase & Co lowered Dean Foods from an “overweight” rating to a “neutral” rating in a research note on Tuesday. Stephens lowered Dean Foods from an “overweight” rating to an “equal weight” rating in a research note on Tuesday. Jefferies Group LLC set a $20.00 price objective on Dean Foods and gave the stock a “buy” rating in a research note on Saturday, July 29th. Finally, Zacks Investment Research upgraded Dean Foods from a “strong sell” rating to a “hold” rating in a research note on Thursday, July 27th. Four investment analysts have rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $18.71.
Several hedge funds have recently made changes to their positions in DF. IFP Advisors Inc raised its stake in shares of Dean Foods by 205.0% in the first quarter. IFP Advisors Inc now owns 14,020 shares of the company’s stock worth $276,000 after buying an additional 9,424 shares during the period. Shell Asset Management Co. acquired a new stake in shares of Dean Foods during the first quarter worth $557,000. First Citizens Bank & Trust Co. raised its stake in shares of Dean Foods by 20.6% in the first quarter. First Citizens Bank & Trust Co. now owns 14,684 shares of the company’s stock worth $289,000 after buying an additional 2,509 shares during the period. Sigma Planning Corp acquired a new stake in shares of Dean Foods during the first quarter worth $207,000. Finally, Dalton Greiner Hartman Maher & Co. raised its stake in shares of Dean Foods by 3.3% in the first quarter. Dalton Greiner Hartman Maher & Co. now owns 649,496 shares of the company’s stock worth $12,769,000 after buying an additional 20,587 shares during the period.
The firm has a market capitalization of $1.08 billion, a P/E ratio of 15.34 and a beta of 0.54. The firm’s 50 day moving average price is $16.16 and its 200 day moving average price is $18.39.
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Dean Foods Company Profile
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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