Dean Foods Co (NYSE:DF) declared a quarterly dividend on Thursday, November 8th, RTT News reports. Stockholders of record on Monday, November 19th will be paid a dividend of 0.03 per share on Tuesday, December 4th. This represents a $0.12 annualized dividend and a dividend yield of 2.01%.
Dean Foods has raised its dividend payment by an average of 8.7% annually over the last three years. Dean Foods has a payout ratio of 90.0% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Analysts expect Dean Foods to earn $0.61 per share next year, which means the company should continue to be able to cover its $0.36 annual dividend with an expected future payout ratio of 59.0%.
Shares of NYSE DF traded down $0.03 during mid-day trading on Thursday, hitting $5.97. The company had a trading volume of 5,490,750 shares, compared to its average volume of 1,682,468. The stock has a market cap of $703.58 million, a PE ratio of 7.46, a price-to-earnings-growth ratio of 1.54 and a beta of 0.02. Dean Foods has a 1 year low of $5.62 and a 1 year high of $12.09. The company has a debt-to-equity ratio of 1.39, a quick ratio of 1.04 and a current ratio of 1.47.
Several equities research analysts have issued reports on DF shares. ValuEngine lowered Dean Foods from a “sell” rating to a “strong sell” rating in a research note on Tuesday, July 24th. Zacks Investment Research raised Dean Foods from a “hold” rating to a “buy” rating and set a $11.00 price target for the company in a research note on Tuesday, July 31st. Vertical Group lowered Dean Foods from a “buy” rating to a “hold” rating in a research note on Tuesday, August 7th. Deutsche Bank raised Dean Foods from a “sell” rating to a “hold” rating and set a $8.00 price target for the company in a research note on Wednesday, August 8th. Finally, BMO Capital Markets dropped their price target on Dean Foods from $10.00 to $9.00 and set a “market perform” rating for the company in a research note on Wednesday, August 8th. Four equities research analysts have rated the stock with a sell rating and eight have given a hold rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $7.56.
About Dean Foods
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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