Pinnacle Foods Inc. (PF) Hits New 52-Week High at $48.02
Pinnacle Foods Inc. (NYSE:PF) shares reached a new 52-week high during trading on Friday . The company traded as high as $48.02 and last traded at $47.78, with a volume of 523,686 shares trading hands. The stock had previously closed at $47.10.
A number of research analysts have recently commented on PF shares. Zacks Investment Research cut Pinnacle Foods from a “buy” rating to a “hold” rating in a research note on Monday, March 28th. DA Davidson reaffirmed a “hold” rating on shares of Pinnacle Foods in a research report on Thursday, March 24th. Royal Bank Of Canada reaffirmed a “buy” rating and set a $52.00 price objective on shares of Pinnacle Foods in a research report on Wednesday, March 23rd. Finally, Bank of America Corp. reaffirmed a “buy” rating on shares of Pinnacle Foods in a research report on Tuesday, May 24th. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Pinnacle Foods presently has an average rating of “Buy” and an average target price of $48.14.
The company has a 50 day moving average price of $43.67 and a 200-day moving average price of $43.37. The firm has a market capitalization of $5.58 billion and a price-to-earnings ratio of 28.63.
Pinnacle Foods (NYSE:PF) last released its earnings results on Thursday, April 28th. The company reported $0.40 EPS for the quarter, meeting analysts’ consensus estimates of $0.40. The business had revenue of $754.30 million for the quarter, compared to the consensus estimate of $771.50 million. The company’s quarterly revenue was up 13.4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.39 EPS. On average, equities research analysts expect that Pinnacle Foods Inc. will post $2.11 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, July 8th. Investors of record on Tuesday, June 7th will be issued a $0.255 dividend. The ex-dividend date of this dividend is Friday, June 3rd. This represents a $1.02 dividend on an annualized basis and a dividend yield of 2.17%.
In other Pinnacle Foods news, CFO Craig D. Steeneck sold 20,683 shares of the company’s stock in a transaction on Wednesday, June 8th. The stock was sold at an average price of $43.58, for a total transaction 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 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 value of $231,700.00. Following the sale, the executive vice president now owns 70,951 shares of the company’s stock, valued at approximately $3,287,869.34. The disclosure for this sale can be found here.
A number of hedge funds recently bought and sold shares of the company. BHF Kleinwort Benson Group S.A. raised its stake in Pinnacle Foods by 278.5% in the fourth quarter. BHF Kleinwort Benson Group S.A. now owns 37,495 shares of the company’s stock worth $1,792,000 after buying an additional 27,589 shares in the last quarter. Janus Capital Management bought a new stake in Pinnacle Foods during the third quarter worth $2,023,000. Principal Financial Group Inc. raised its stake in Pinnacle Foods by 8.5% in the fourth quarter. Principal Financial Group Inc. now owns 27,405 shares of the company’s stock worth $1,164,000 after buying an additional 2,146 shares in the last quarter. Marshall Wace LLP bought a new stake in Pinnacle Foods during the fourth quarter worth $6,490,000. Finally, American Century Companies Inc. raised its stake 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.
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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