Investors Sell Shares of Pinnacle Foods Inc. (PF) on Strength (PF)
Traders sold shares of Pinnacle Foods Inc. (NYSE:PF) on strength during trading hours 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 equities 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
PF has been the topic of several analyst 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 research report on Tuesday, April 19th. Royal Bank Of Canada reiterated a “buy” rating and set a $52.00 target price on shares of Pinnacle Foods in a research report on Wednesday, March 23rd. Bank of America Corp. reiterated a “buy” rating on shares of Pinnacle Foods in a research report on Tuesday, May 24th. Finally, DA Davidson reiterated a “hold” rating on shares of Pinnacle Foods in a research report on Thursday, March 24th. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $48.14.
The firm has a market cap of $5.50 billion and a price-to-earnings ratio of 28.22. The company’s 50 day moving average price is $43.67 and its 200-day moving average price is $43.37.
Pinnacle Foods (NYSE:PF) last released its earnings results on Thursday, April 28th. The company reported $0.40 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.40. During the same period in the previous year, the company earned $0.39 earnings per share. The firm earned $754.30 million during the quarter, compared to analyst estimates of $771.50 million. Pinnacle Foods’s revenue was up 13.4% on a year-over-year basis. Equities analysts predict that Pinnacle Foods Inc. will post $2.11 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, July 8th. Investors of record on Tuesday, June 7th will be given a $0.255 dividend. This represents a $1.02 annualized dividend and a dividend yield of 2.17%. The ex-dividend date is Friday, June 3rd.
In related news, 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 value of $231,700.00. Following the transaction, the executive vice president now directly owns 70,951 shares of the company’s stock, valued at approximately $3,287,869.34. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, 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 in the company, valued at $7,714,270.12. The disclosure for this sale can be found here.
Several institutional investors have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP increased its position in Pinnacle Foods by 10.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,787,059 shares of the company’s stock valued at $118,343,000 after buying an additional 270,038 shares during the last quarter. OppenheimerFunds Inc. increased its position in Pinnacle Foods by 57.6% in the fourth quarter. OppenheimerFunds Inc. now owns 1,884,482 shares of the company’s stock valued at $80,015,000 after buying an additional 688,689 shares during the last quarter. Wells Fargo & Company MN increased its position in Pinnacle Foods by 19.2% in the fourth quarter. Wells Fargo & Company MN now owns 1,262,146 shares of the company’s stock valued at $53,592,000 after buying an additional 202,961 shares during the last quarter. UBS Oconnor LLC increased its position in Pinnacle Foods by 89.1% in the fourth quarter. UBS Oconnor LLC now owns 1,019,364 shares of the company’s stock valued at $43,282,000 after buying an additional 480,413 shares during the last quarter. Finally, First Trust Advisors LP increased its position in Pinnacle Foods by 11.5% in the fourth quarter. First Trust Advisors LP now owns 647,233 shares of the company’s stock valued at $27,482,000 after buying an additional 66,843 shares during 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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