Traders Sell Pinnacle Foods Inc. (PF) on Strength (PF)
Traders sold shares of Pinnacle Foods Inc. (NYSE:PF) on strength during trading on Thursday. $12.98 million flowed into the stock on the tick-up and $25.38 million flowed out of the stock on the tick-down, for a money net flow of $12.40 million out of the stock. Of all stocks tracked, Pinnacle Foods had the 0th highest net out-flow for the day. Pinnacle Foods traded up $0.16 for the day and closed at $47.10
Several research analysts have commented on PF shares. Royal Bank Of Canada reissued a “buy” rating and issued a $52.00 price objective on shares of Pinnacle Foods in a research report on Wednesday, March 23rd. DA Davidson reissued a “hold” rating on shares of Pinnacle Foods in a research report on Thursday, March 24th. Zacks Investment Research lowered Pinnacle Foods from a “buy” rating to a “hold” rating in a research report on Monday, March 28th. Finally, Bank of America Corp. restated a “buy” rating on shares of Pinnacle Foods in a research note on Tuesday, May 24th. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $48.14.
The company has a 50-day moving average price of $43.84 and a 200-day moving average price of $43.41. The stock has a market capitalization of $5.61 billion and a price-to-earnings ratio of 28.80.
Pinnacle Foods (NYSE:PF) last posted its quarterly earnings results on Thursday, April 28th. The company reported $0.40 EPS for the quarter, meeting the consensus estimate of $0.40. The company had revenue of $754.30 million for the quarter, compared to analysts’ expectations of $771.50 million. The company’s revenue was up 13.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.39 earnings per share. Analysts anticipate that Pinnacle Foods Inc. will post $2.11 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, July 8th. Stockholders of record on Tuesday, June 7th were issued a dividend of $0.255 per share. This represents a $1.02 annualized dividend and a dividend yield of 2.12%. The ex-dividend date was Friday, June 3rd.
In related news, CFO Craig D. Steeneck sold 20,683 shares of Pinnacle Foods stock in a transaction on Wednesday, June 8th. The shares were sold at an average price of $43.58, for a total value of $901,365.14. Following the completion of the sale, the chief financial officer now owns 177,014 shares of the company’s stock, valued at approximately $7,714,270.12. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Michael Kelley Maggs sold 5,000 shares of Pinnacle Foods stock in a transaction on Friday, July 1st. The shares were sold at an average price of $46.34, for a total transaction of $231,700.00. Following the completion of the sale, the executive vice president now directly owns 70,951 shares of the company’s stock, valued at approximately $3,287,869.34. The disclosure for this sale can be found here.
Other large investors have added to or reduced their stakes in the company. American Century Companies Inc. raised its stake in Pinnacle Foods by 87.8% in the fourth quarter. American Century Companies Inc. now owns 43,272 shares of the company’s stock valued at $1,837,000 after buying an additional 20,231 shares during the last quarter. California State Teachers Retirement System raised its stake in Pinnacle Foods by 1.6% in the fourth quarter. California State Teachers Retirement System now owns 222,846 shares of the company’s stock valued at $9,462,000 after buying an additional 3,600 shares during the last quarter. Nationwide Fund Advisors raised its stake in Pinnacle Foods by 1.0% in the fourth quarter. Nationwide Fund Advisors now owns 138,735 shares of the company’s stock valued at $5,891,000 after buying an additional 1,360 shares during the last quarter. State Board of Administration of Florida Retirement System raised its stake in Pinnacle Foods by 39.9% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 52,074 shares of the company’s stock valued at $2,211,000 after buying an additional 14,853 shares during the last quarter. Finally, Janus Capital Management acquired a new stake in Pinnacle Foods during the third quarter valued at about $2,023,000.
Pinnacle Foods Inc is a manufacturer, marketer and distributor of branded food products in North America. The Company operates through three segments: the Birds Eye Frozen segment, the Duncan Hines Grocery segment and the Specialty Foods segment. The Birds Eye Frozen segment manages its brands in the United States retail frozen vegetables (Birds Eye), frozen complete bagged meals (Birds Eye Voila!), and frozen seafood (Van de Kamp’s and Mrs.
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