Pinnacle Foods Inc. (PF) EVP Michael Kelley Maggs Sells 5,000 Shares
Pinnacle Foods Inc. (NYSE:PF) EVP Michael Kelley Maggs sold 5,000 shares of the stock in a transaction dated Monday, October 3rd. The stock was sold at an average price of $50.10, for a total transaction of $250,500.00. Following the completion of the transaction, the executive vice president now directly owns 55,951 shares of the company’s stock, valued at $2,803,145.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.
Michael Kelley Maggs also recently made the following trade(s):
- On Monday, August 1st, Michael Kelley Maggs sold 5,000 shares of Pinnacle Foods stock. The stock was sold at an average price of $50.15, for a total transaction of $250,750.00.
Shares of Pinnacle Foods Inc. (NYSE:PF) opened at 50.50 on Wednesday. The stock has a market cap of $5.96 billion, a PE ratio of 30.08 and a beta of 0.35. Pinnacle Foods Inc. has a one year low of $39.15 and a one year high of $52.00. The firm has a 50-day moving average of $50.35 and a 200-day moving average of $46.47.
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. Pinnacle Foods had a net margin of 6.90% and a return on equity of 13.01%. The business earned $756.40 million during the quarter, compared to analysts’ expectations of $754.89 million. During the same period last year, the company posted $0.36 EPS. The business’s revenue was up 19.7% on a year-over-year basis. On average, equities research analysts expect that Pinnacle Foods Inc. will post $2.14 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 10th. Investors of record on Tuesday, August 30th will be paid a dividend of $0.285 per share. The ex-dividend date of this dividend is Friday, August 26th. This is a boost from Pinnacle Foods’s previous quarterly dividend of $0.26. This represents a $1.14 dividend on an annualized basis and a dividend yield of 2.26%. Pinnacle Foods’s payout ratio is currently 67.86%.
Several institutional investors have recently added to or reduced their stakes in the company. Metropolitan Life Insurance Co. NY boosted its position in Pinnacle Foods by 0.6% in the second quarter. Metropolitan Life Insurance Co. NY now owns 3,417 shares of the company’s stock worth $158,000 after buying an additional 19 shares in the last quarter. YHB Investment Advisors Inc. boosted its position in Pinnacle Foods by 0.3% in the second quarter. YHB Investment Advisors Inc. now owns 15,070 shares of the company’s stock worth $698,000 after buying an additional 50 shares in the last quarter. FNY Managed Accounts LLC boosted its position in Pinnacle Foods by 3.9% in the second quarter. FNY Managed Accounts LLC now owns 3,600 shares of the company’s stock worth $167,000 after buying an additional 136 shares in the last quarter. Utah Retirement Systems boosted its position in Pinnacle Foods by 1.0% in the second quarter. Utah Retirement Systems now owns 21,000 shares of the company’s stock worth $972,000 after buying an additional 200 shares in the last quarter. Finally, State of Alaska Department of Revenue boosted its position in Pinnacle Foods by 5.3% in the second quarter. State of Alaska Department of Revenue now owns 4,511 shares of the company’s stock worth $208,000 after buying an additional 227 shares in the last quarter. 97.03% of the stock is owned by hedge funds and other institutional investors.
A number of research firms recently issued reports on PF. Deutsche Bank AG set a $48.00 price target on shares of Pinnacle Foods and gave the stock a “hold” rating in a research note 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 research note on Thursday, July 14th. DA Davidson increased their price target on shares of Pinnacle Foods from $42.00 to $47.00 and gave the stock a “neutral” rating in a research note on Friday, July 29th. RBC Capital Markets reissued an “outperform” rating and issued a $56.00 price target (up from $54.00) on shares of Pinnacle Foods in a research note on Monday, August 1st. Finally, Rowe raised shares of Pinnacle Foods from a “hold” rating to a “buy” rating and set a $55.00 price target for the company in a research note on Friday, July 29th. Three investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $52.27.
Pinnacle Foods Company Profile
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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