Dean Foods Company
Introducing Dean Foods (NYSE:DF), The Stock That Tanked 94%
on July 11, 2019 at 7:28 pm
Every investor on earth makes bad calls sometimes. But really big losses can really drag down an overall portfolio. So... […]
Dean Foods Down 56% in 3 Months: Can Efforts Aid Revival?
on July 5, 2019 at 12:27 pm
Dean Foods (DF) is grappling with cost inflation and soft volumes. However, the company is on track with its comprehensive productivity program, including OPEX 2020 and company-wide initiatives. […]
Dean Foods Successfully Increases Availability Under Its Revolving Credit Facility
on July 1, 2019 at 10:45 am
DALLAS, July 1, 2019 /PRNewswire/ -- Dean Foods Company (DF) today announced it has successfully increased the Company's borrowing base availability to $265 million under its senior secured revolving credit facility by completing post-closing appraisal work. Chief Executive Officer Ralph Scozzafava said, "During the first quarter, we stated that we expected to expand our revolving credit facility to $265 million by the end of the second quarter and today marks the achievement of that goal. This increases our financial flexibility and further enhances our liquidity. Additional details can be found in the Form 8-K that the Company has filed with the U.S. Securities and Exchange Commission. […]
America's Biggest Milk Processor Is Trading Under a Buck
on June 27, 2019 at 10:01 pm
(Bloomberg) -- The biggest U.S. milk processor is now a penny stock.On Tuesday, Dean Foods Co. shares closed at less than $1 for the first time since they started trading more than two decades ago. The destruction of market value, which has whittled down to about $90 million, is as simple to explain as it is dramatic: Americans aren’t drinking as much milk.Amid fierce competition to supply grocery stores’ own brands, Dean’s margins are razor thin -- averaging about 3.8% over the past five years. The company’s situation deteriorated further after Walmart Inc., a key customer, built its own milk processing plant last year.While the Dallas-based company is looking to sell assets, much of the interest is in possible debt restructuring. Its bonds have been trading at distressed levels, and that’s led its equity to trade at “nuisance” levels, said Hoai Ngo, senior credit analyst at Bloomberg Intelligence. In other words, the way bonds are trading, there wouldn’t be enough value left in a bankruptcy proceeding to pay equity shareholders.Dean declined to comment, referring to previously stated expectations of generating positive cash flow in 2019 and securing additional liquidity by the end of the second quarter. In its first-quarter earnings call, the company said it refinanced its “debt capital structure in February, which provides us with the resources necessary to drive our commercial agenda and execute our enterprise-wide cost productivity plan.”Stocks that trade below $1 on the New York Stock Exchange for too long also run the risk of being delisted, said Jennifer Bartashus, an analyst for Bloomberg Intelligence. That can be a cause of concern to investors and make it difficult for the company to bring its share price back up, she said.“In bankruptcy proceedings, all the classes of shareholders have a right to say ‘I deserve something,”’ Ngo said. For equity shareholders, though, “they’ll just give them a little something to go away.”That may help explain why the shares keep falling even as Dean’s bonds have recovered a little ground in the past month. The notes due 2023 are trading at 58 cents on the dollar, up from a low of 51 cents. Still, at a 24 percent yield, the bonds are well into distressed levels.(Adds company's previous comments on liquidity in fifth paragraph)To contact the reporters on this story: Lydia Mulvany in Chicago at firstname.lastname@example.org;Katherine Doherty in New York at email@example.comTo contact the editors responsible for this story: James Attwood at firstname.lastname@example.org, Millie MunshiFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P. […]
Can Dean Foods Gain on Cost Saving & Diversification Plans?
on June 13, 2019 at 11:20 am
Dean Foods (DF) is battling input cost inflation and soft volumes. However, the company is strongly focused on cost-productivity measures and efforts to strengthen portfolio. […]
Is Dean Foods Company (DF) Going to Burn These Hedge Funds?
on June 11, 2019 at 11:37 pm
Before we spend days researching a stock idea we'd like to take a look at how hedge funds and billionaire investors recently traded that stock. S&P 500 Index ETF (SPY) lost 2.6% in the first two months of the second quarter. Ten out of 11 industry groups in the S&P 500 Index lost value in […]
Steve's Ice Cream® Enlists Contemporary Artists To Celebrate Unique And Creative Experiences
on June 6, 2019 at 5:58 pm
DALLAS, June 6, 2019 /PRNewswire/ -- Steve's Ice Cream®, a Dean Foods Company (DF), is joining forces with art and artists this summer to curate immersive consumer activations that celebrate and encourage the unexpected. Go to www.SweetToothHotel.com for more details. […]
See what the IHS Markit Score report has to say about Dean Foods Co.
on May 30, 2019 at 12:01 pm
Dean Foods Co NYSE:DFView full report here! Summary * Perception of the company's creditworthiness is negative * ETFs holding this stock are seeing positive inflows but are weakening * Bearish sentiment is high Bearish sentimentShort interest | NegativeShort interest is extremely high for DF with more than 20% of shares on loan. This means that investors who seek to profit from falling equity prices are currently targeting DF. Money flowETF/Index ownership | NegativeETF activity is negative and may be weakening. The net inflows of $1.63 billion over the last one-month into ETFs that hold DF are among the lowest of the last year and appear to be slowing. Economic sentimentPMI by IHS Markit | NeutralAccording to the latest IHS Markit Purchasing Managers' Index (PMI) data, output in the Consumer Goods sector is rising. The rate of growth is weak relative to the trend shown over the past year, however. Credit worthinessCredit default swap | NegativeThe current level displays a negative indicator. DF credit default swap spreads are rising towards their highest levels for the past 1 year, which indicates the market's more negative perception of the company's credit worthiness.Please send all inquiries related to the report to email@example.com.Charts and report PDFs will only be available for 30 days after publishing.This document has been produced for information purposes only and is not to be relied upon or as construed as investment advice. To the fullest extent permitted by law, IHS Markit disclaims any responsibility or liability, whether in contract, tort (including, without limitation, negligence), equity or otherwise, for any loss or damage arising from any reliance on or the use of this material in any way. Please view the full legal disclaimer and methodology information on pages 2-3 of the full report. […]
There Are Worrisome Trends in the Riskiest Parts of the Junk-Bond Market
on May 24, 2019 at 6:04 pm
High-yield bond investors are shying away from the riskiest companies again, says Bank of America Merrill Lynch. […]
Dean Foods Company -- Moody's downgrades Dean Foods CFR to Caa1; outlook negative
on May 17, 2019 at 5:44 pm
Moody's Investors Service ("Moody's") today downgraded Dean Foods Company's ("Dean") Corporate Family Rating (CFR) to Caa1 from B3 and its Probability of Default Rating to Caa1-PD from B3-PD. Moody's also downgraded the company's senior unsecured notes to Caa2 from Caa1. At the same time Moody's affirmed the company's Speculative Grade Liquidity Rating at SGL-3. […]