NEW YORK (TheStreet) -- Shares of Dean Foods Co. (DF) are down -1.96% to $17.04 on heavy volume trading after a U.S. insider trading investigation of Carl Icahn's (IEP) attempt to buy The Clorox Co. (CLX) in 2011 has been hampered by reports tying it and trades in Dean Foods to golfer Phil Mickelson and sports gambler William Walters, sources told Bloomberg.
Investigators are reviewing large option trades ahead of Icahn's $10.2 billion offer for Clorox, as well as trading by Mickelson and Walters in Dean Foods in 2012, the source said.
None of the three individuals has been accused of any wrongdoing.
TheStreet Ratings team rates DEAN FOODS CO as a Hold with a ratings score of C-. TheStreet Ratings Team has this to say about their recommendation:
"We rate DEAN FOODS CO (DF) a HOLD. The primary factors that have impacted our rating are mixed some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its revenue growth, notable return on equity and reasonable valuation levels. However, as a counter to these strengths, we also find weaknesses including deteriorating net income, poor profit margins and a generally disappointing performance in the stock itself."