Pinnacle Foods Inc. (PF) Sets New 52-Week High at $51.50
Pinnacle Foods Inc. (NYSE:PF) reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $51.50 and last traded at $51.34, with a volume of 498,584 shares changing hands. The stock had previously closed at $50.75.
Several research analysts recently commented on PF shares. RBC Capital Markets reiterated an “outperform” rating and issued a $56.00 target price (up previously from $54.00) on shares of Pinnacle Foods in a report on Monday, August 1st. Deutsche Bank AG set a $48.00 target price on shares of Pinnacle Foods and gave the stock a “hold” rating in a report on Sunday, July 24th. Rowe upgraded shares of Pinnacle Foods from a “hold” rating to a “buy” rating and set a $55.00 target price on the stock in a report on Friday, July 29th. DA Davidson lifted their target price 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. Finally, Stifel Nicolaus upgraded shares of Pinnacle Foods from a “hold” rating to a “buy” rating and set a $55.00 target price on the stock in a report on Friday, July 29th. Three research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. Pinnacle Foods currently has an average rating of “Buy” and an average target price of $52.27.
The firm’s 50 day moving average price is $49.65 and its 200-day moving average price is $45.42. The firm has a market cap of $6.07 billion and a price-to-earnings ratio of 30.64.
Pinnacle Foods (NYSE:PF) last announced its earnings results on Thursday, July 28th. The company reported $0.42 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.39 by $0.03. During the same quarter in the previous year, the company posted $0.36 EPS. The business had revenue of $756.40 million for the quarter, compared to analyst estimates of $754.89 million. The business’s revenue for the quarter was up 19.7% compared to the same quarter last year. Equities analysts expect that Pinnacle Foods Inc. will post $2.14 EPS for the current year.
The firm also recently announced 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 represents a $1.14 annualized dividend and a yield of 2.22%. The ex-dividend date of this dividend is Friday, August 26th. This is a positive change from Pinnacle Foods’s previous quarterly dividend of $0.26.
In other Pinnacle Foods news, CFO Craig D. Steeneck sold 20,683 shares of the 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 in the company, valued at $7,714,270.12. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Michael Kelley Maggs sold 5,000 shares of the stock in a transaction on Thursday, June 9th. The shares were sold at an average price of $44.00, for a total transaction of $220,000.00. Following the completion of the sale, the executive vice president now owns 75,951 shares of the company’s stock, valued at approximately $3,341,844. 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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