Pinnacle Foods Inc. (NYSE:PF)’s share price dropped 1.2% on Monday . The stock traded as low as $47.40 and last traded at $47.47, with a volume of 175,693 shares trading hands. The stock had previously closed at $48.06.

PF has been the topic of several recent research reports. Zacks Investment Research upgraded Pinnacle Foods from a “hold” rating to a “buy” rating and set a $50.00 target price on the stock in a report on Tuesday, April 19th. Royal Bank Of Canada restated a “buy” rating and set a $52.00 target price on shares of Pinnacle Foods in a report on Wednesday, March 23rd. DA Davidson restated a “hold” rating on shares of Pinnacle Foods in a report on Thursday, March 24th. Bank of America Corp. restated a “buy” rating on shares of Pinnacle Foods in a report on Tuesday, May 24th. Finally, Goldman Sachs Group Inc. upgraded Pinnacle Foods from a “neutral” rating to a “buy” rating and raised their target price for the company from $48.00 to $57.00 in a report on Tuesday. Four research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Pinnacle Foods has an average rating of “Buy” and an average target price of $49.25.

The firm has a 50 day moving average price of $44.17 and a 200-day moving average price of $43.48. The stock has a market cap of $5.67 billion and a price-to-earnings ratio of 29.06.

Pinnacle Foods (NYSE:PF) last announced its earnings results on Thursday, April 28th. The company reported $0.40 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.40. The company earned $754.30 million during the quarter, compared to analyst estimates of $771.50 million. Pinnacle Foods’s revenue for the quarter was up 13.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.39 earnings per share. On average, analysts anticipate that Pinnacle Foods Inc. will post $2.11 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, July 8th. Investors of record on Tuesday, June 7th were paid a $0.255 dividend. This represents a $1.02 dividend on an annualized basis and a yield of 2.12%. The ex-dividend date was Friday, June 3rd.

In related news, CFO Craig D. Steeneck sold 20,683 shares of the company’s 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 transaction, the chief financial officer now directly owns 177,014 shares of the company’s stock, valued at approximately $7,714,270.12. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Michael Kelley Maggs sold 5,000 shares of the company’s stock in a transaction on Friday, July 1st. The stock was sold at an average price of $46.34, for a total transaction of $231,700.00. Following the completion of the transaction, the executive vice president now directly owns 70,951 shares of the company’s stock, valued at $3,287,869.34. The disclosure for this sale can be found here.

Other institutional investors have bought and sold shares of the company. State Board of Administration of Florida Retirement System increased its position 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 worth $2,211,000 after buying an additional 14,853 shares in the last quarter. Nationwide Fund Advisors increased its position in Pinnacle Foods by 1.0% in the fourth quarter. Nationwide Fund Advisors now owns 138,735 shares of the company’s stock worth $5,891,000 after buying an additional 1,360 shares in the last quarter. American Century Companies Inc. increased its position in Pinnacle Foods by 87.8% in the fourth quarter. American Century Companies Inc. now owns 43,272 shares of the company’s stock worth $1,837,000 after buying an additional 20,231 shares in the last quarter. Rhumbline Advisers increased its position in Pinnacle Foods by 2.4% in the fourth quarter. Rhumbline Advisers now owns 71,362 shares of the company’s stock worth $3,030,000 after buying an additional 1,695 shares in the last quarter. Finally, Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp increased its position in Pinnacle Foods by 153.0% in the fourth quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 250,580 shares of the company’s stock worth $10,640,000 after buying an additional 151,520 shares in the last quarter.

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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