Paycom Software Inc (PAYC) And Dean Foods Co (DF) Running On Fumes Heading Into Trading Session

Dean Foods Co (NYSE:DF) was another company whose shares fell in the extended-hour trading session, by 2.4%, with no noteworthy news behind their fall. It has been a difficult year so far for the company, with its shares dropping by 11.62% year-to-date. The largest milk producer in the country has an average analysts’ rating of ‘Buy’, along with a short-term price target of $18.75, representing an upside potential of 9.60%. Dean Foods Co (NYSE:DF) missed the market’s revenue expectations for its second quarter of 2015 earnings, reporting revenues of $2.01 billion, $50 million lower than estimates.  Further, its revenues dropped by 23.31% against the previous-year quarter, though the earnings per share of $0.33 was up by 135% year-over-year and $0.07 higher than Wall Street’s expectations.

The milk packaging and distribution company has made efforts to cut its logistics costs and improve volume margins for the past several months. The smart money agreed with the cost productivity agenda put forward by the company, as the aggregate hedge fund holdings in Dean Foods Co was up by 33.55% to $173.18 million during the second quarter. The growth in total holdings becomes even more significant, as the stock of the company was down by 2.18% in the selected period. In addition to the increase in net holdings, the number of hedge funds having long positions in the company was up re4by three to 23 hedge funds.  Millennium Management and Joel Greenblatt’s Gotham Asset Management were among the top stakeholders of the firm, owning 2.30 million shares and 2.09 million shares, respectively.

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