Pinnacle Foods Inc. (PF) Sets New 1-Year High at $51.50
Pinnacle Foods Inc. (NYSE:PF) hit a new 52-week high during mid-day trading on Friday . The company traded as high as $51.50 and last traded at $51.34, with a volume of 498,584 shares traded. The stock had previously closed at $50.75.
A number of equities research analysts recently issued reports on the stock. Deutsche Bank AG set a $48.00 price objective on shares of Pinnacle Foods and gave the stock a “hold” rating in a report on Sunday, July 24th. BMO Capital Markets reiterated a “” rating and set a $56.00 price target (up previously from $50.00) on shares of Pinnacle Foods in a report on Thursday, July 14th. DA Davidson upped their price objective on shares of Pinnacle Foods from $42.00 to $47.00 and gave the stock a “neutral” rating in a report on Friday, July 29th. RBC Capital Markets reiterated an “outperform” rating and issued a $56.00 price objective (up from $54.00) on shares of Pinnacle Foods in a report on Monday, August 1st. Finally, Rowe upgraded shares of Pinnacle Foods from a “hold” rating to a “buy” rating and set a $55.00 price objective for the company in a report on Friday, July 29th. Three investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. Pinnacle Foods presently has a consensus rating of “Buy” and a consensus target price of $52.27.
The company has a market capitalization of $6.06 billion and a price-to-earnings ratio of 30.5915. The company’s 50-day moving average price is $49.62 and its 200 day moving average price is $45.42.
Pinnacle Foods (NYSE:PF) last issued its quarterly earnings data on Thursday, July 28th. The company reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of $0.39 by $0.03. During the same quarter in the previous year, the business earned $0.36 earnings per share. The company had revenue of $756.40 million for the quarter, compared to analyst estimates of $754.89 million. The company’s revenue was up 19.7% on a year-over-year basis. On average, equities research analysts forecast that Pinnacle Foods Inc. will post $2.14 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 10th. Investors of record on Tuesday, August 30th will be issued a dividend of $0.285 per share. This is an increase from Pinnacle Foods’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend is Friday, August 26th. This represents a $1.14 dividend on an annualized basis and a dividend yield of 2.25%.
In related news, EVP Christopher J. Boever sold 50,000 shares of the firm’s stock in a transaction on Thursday, August 18th. The shares were sold at an average price of $50.15, for a total value of $2,507,500.00. Following the completion of the transaction, the executive vice president now owns 51,129 shares of the company’s stock, valued at $2,564,119.35. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Christopher J. Boever sold 3,664 shares of the firm’s stock in a transaction on Wednesday, August 24th. The shares were sold at an average price of $51.01, for a total transaction of $186,900.64. Following the completion of the transaction, the executive vice president now directly owns 49,729 shares of the company’s stock, valued at approximately $2,536,676.29. The disclosure for this sale can be found here.
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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